USA's Visa requirements for foreign investors
The United States does have a way for foreign investors to obtain a green card, by investing in a US business that creates jobs for US citizens. This program is known as the EB-5 Investor Visa.
To be eligible for the EB-5 Investor Visa, foreign investors must meet the following requirements:
- Invest at least $800,000 in a new commercial enterprise in the United States that creates or preserves at least 10 full-time jobs for US citizens or lawful permanent residents. The investment amount can be reduced to $500,000 if the investment is made in a Targeted Employment Area (TEA), which is a rural area or an area with high unemployment.
- Have a net worth of at least $1 million, excluding the value of the investment.
- Demonstrate that the investment is not at risk of failing.
- Be able to travel to the United States for interviews and other visa processing procedures.
Once the investor has met all of the requirements, they can file an I-526 petition with the US Citizenship and Immigration Services (USCIS). If the petition is approved, the investor and their family members will be eligible to receive green cards.
Benefits of the EB-5 Investor Visa
The EB-5 Investor Visa offers a number of benefits to foreign investors, including:
- A green card that allows the investor and their family members to live and work permanently in the United States.
- The ability to travel freely in and out of the United States.
- Access to the US education system for the investor's children.
- The ability to start or invest in a business in the United States.
Drawbacks of the EB-5 Investor Visa
The EB-5 Investor Visa also has some drawbacks, including:
- The high investment requirement.
- The complex application process.
- The risk of the investment failing.
- The possibility of having to wait several years for the green card to be processed.
Percentage of EB-5 visas issued to Central and South American countries (2022)
Colombia (10)%
Brazil (8%)
Mexico (7%)
Argentina (5%)
Peru (4%)
Ecuador (3%)
Panama (2%)
Costa Rica (1%)
Other Central and South American countries (1%)
Foreign Buyers of U.S. Real Estate
Foreign investment in real estate is something that the National Association of REALTORS® likes to keep track of. While most real estate professionals don’t deal frequently with foreign investors, certain states tend to have a larger share of these clients than others. NAR's 2020 Profile of International Transactions in U.S. Residential Real Estate notes that the top five states for foreign investors are:
Florida (22%)
California (15%)
Texas (9%)
New York (5%)
New Jersey (5%)
Impact on Miami's Economy
The increasing interest of Central and South American investors, particularly from countries like Colombia, in Miami's real estate market through the EB-5 Investor Visa program has had a notable impact on the city's economy. Here are some key ways in which this trend has influenced Miami's economic landscape:
1. Real Estate Market Growth: The influx of foreign investments, including substantial sums from Central and South American investors, has driven growth in Miami's real estate sector. This has led to an increase in property values, construction projects, and housing developments.
2. Job Creation: The EB-5 program's requirement to create or preserve a minimum of 10 full-time jobs for U.S. citizens or lawful permanent residents has directly contributed to job creation in Miami. New businesses and real estate projects have generated employment opportunities, benefitting the local workforce.
3. Construction and Development: The demand for new commercial enterprises and real estate developments, fueled by foreign investments, has boosted the construction and development industries in Miami. This includes the construction of residential complexes, commercial properties, and infrastructure projects.
4. Increased Tourism: As more foreign investors engage with Miami's real estate market, there has been an indirect increase in tourism from these countries. Investors, their families, and business associates often visit Miami, leading to greater tourism-related revenue for the city.
5. Retail and Hospitality Sector Growth: With an increase in visitors and investors, Miami's retail and hospitality sectors have experienced growth. Hotels, restaurants, and retail establishments have catered to the needs and preferences of these international visitors, leading to increased economic activity.
6. Local Business Opportunities: Miami's thriving real estate market has opened doors for local businesses, from real estate agencies and legal firms specializing in immigration to property management companies and interior design services. The economic ecosystem surrounding real estate has expanded to accommodate the growing demand.
7. Investment in Education: The families of foreign investors often seek educational opportunities for their children. This has led to an increase in enrollment in Miami's schools and universities, further contributing to the local economy.
8. Long-term Economic Impact: While the immediate impact of foreign investments is visible, the long-term economic benefits are equally significant. As these investments continue to grow and generate returns, Miami's economy stands to benefit for years to come.
Conclusion
Colombia, Brazil, Mexico, Argentina, and Peru are the top five Central and South American countries of origin for EB-5 investors. These countries receive a significant percentage of EB-5 visas each year.
There are a number of reasons why Central and South American investors are attracted to the EB-5 program. One reason is that these countries have strong economies and growing middle classes. This means that investors have the financial resources to invest in the US.
Another reason is that Central and South America has a close relationship with the US. This makes it easier for investors to navigate the EB-5 program and to invest in US businesses. The surge in Central and South American investments in Miami's real estate market, facilitated by the EB-5 Investor Visa program, has made a substantial impact on the city's economy. It has driven growth, job creation, increased economic activity in various sectors, and solidified Miami's position as a global real estate investment destination. This trend is expected to continue shaping the city's economic landscape for the foreseeable future.
Finally, Central and South American investors are attracted to the benefits of the EB-5 program, such as the opportunity to obtain a green card for themselves and their family members.
Additional information
It is important to note that the EB-5 program is a limited program. There is a cap of 10,000 EB-5 visas issued each year. This means that the wait time for a green card can be several years.
Central and South American investors who are interested in the EB-5 program should be aware of the investment requirements and the possibility of having to wait several years for a green card.
If you are a Central or South American investor who is interested in the EB-5 program, you should consult with an immigration attorney to discuss your eligibility and to get help with the application process.
If you are a foreign investor who is interested in the EB-5 visa program, I encourage you to contact me. I am connected to a team of experienced immigration attorneys who can offer you world-class guidance and service.
Our attorneys have a deep understanding of the EB-5 visa program and can help you navigate the complex application process. They will work with you to choose the right investment and to develop a strong business plan. They will also represent you before USCIS and ensure that your application is complete and accurate.
We understand that the EB-5 visa process can be daunting. That's why we are here to help you every step of the way. We will provide you with the support and guidance you need to achieve your goal of living and working permanently in the United States.
Contact me today to learn more about how our team of EB-5 visa experts can help you achieve your immigration goals.
