The EB-5 Program: a smart investment into your family’s future
Residency by investment in the U.S. is available through one program: the EB-5 Immigrant Investor Program. Created in 1992 as an employment-based immigration program, the EB-5 is a mutually beneficial system in which high-net worth foreign investors can obtain a U.S. Green Card and simultaneously create jobs to boost the economy within a community. However, it is important to note that applicants are not obligated to reside in the location of their investment, but can instead enjoy the freedom of residency in any U.S. state.
Although the EB-5 program was initially set to expire on September 30th 2016, it has twice been extended since that date. Earlier this month, U.S. Congress once again voted for another extension in addition to proposing much-needed reform in the coming months. The EB-5 program will now expire on April 28th 2017, after which the new regulations will come into effect. However, individuals are still able to apply to the EB-5 under the current guidelines.
At present, the EB-5 program offers two options: a US $1 million investment into a new enterprise, or a reduced US $500,000 investment in a government-approved Regional Center or Targeted Employment Area (TEA).*
Since the creation of the EB-5 program, state and federally approved Regional Centers and TEAs have cropped up across the U.S. resulting in an overwhelming number of investment opportunities. Choosing where to go and how to invest is an important decision for EB-5 applicants, and the sheer number of investment opportunities available can be daunting. An applicant must not only find a permitted area to invest their capital, but he or she must also find an area in which to reside with his or her immediate family.
Immigration planning can be a stressful process as it is. As mentioned before, EB-5 applicants have plenty of personal and professional decisions to make, including what type of investment best suits their immigration needs, and where. While all fifty states have their merit, there is one state that consistently ranks well in quality of living and economic performance: Florida.
*As of 2017, U.S. Citizenship and Immigration Services Department of Homeland Security (DHS) has proposed to amend several current EB-5 regulations, including investment amounts. The new reforms would increase the new enterprise US $ 1 million investment to US $1.8 million and the US $500,000 investment in TEAs to US $1.35 million.
Excellent family and socio-economic opportunities in Florida
Known as the “Sunshine State,” Florida has ranked 1st in the U.S. for workforce, 3rd for employment and industry growth, and ranks in the top 10 for technological innovation and access to capital. Even more, Florida outranks the U.S. national average in projected and recent job growth, and is one of only two states in the U.S. with 0.00% state income tax. These statistics alone makes Florida a popular destination for EB-5 hopefuls.
In terms of lifestyle, Florida is one of the most family-friendly and dynamic states in the U.S. Home to Disney World: Orlando, scenic beaches, and Miami’s famed social scene, Florida offers a vibrant and comfortable lifestyle. Costs of childcare, taxes, and transportation across the state all fall below the U.S. national average. Regional Centers and TEAs approved by the state and federal governments include metropolitan centers like Miami, as well as more family-oriented rural areas.
For educational opportunities, Charter Schools in Florida offer potential EB-5 applicants a fast-growing and innovative school system to consider for their children. Many of Florida’s Charter Schools take a global approach to education, which serves a diverse student population that is unmatched in public schools throughout the nation.
Indeed, Charter Schools have become a popular alternative for education throughout Florida and the broader United States. These tuition-free public schools generally rank in the top 10 in the U.S. and have seen a steady increase in enrollment and test scores over the last decade. Today, Florida’s Charter Schools number over 640 and are home to more than 250,000 students in 46 districts. The ongoing construction and expansion of Charter Schools are largely due to the financial contributions of EB-5 investors and sponsors. For applicants and their families, Florida’s Charter Schools offer a long-lasting investment into a child’s education and future.
QICMS recognizes that smart financial decisions and family-friendly environments are of the utmost importance to EB-5 applicants and their families, which is why we like Florida: it offers the best of both worlds.
Our staff of professional immigration consultants will not only help you find a legitimate Regional Center to maximize your probability of success through the EB-5 program, but will guide you through every step of the application process.
For more information on the U.S. EB-5 Immigrant Investor Program, please click here.
For more information on Florida’s Charter School projects, please click here.
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