Some Interesting Facts About EB5 in 2013
The EB5 immigration program allows foreign nationals to invest $500,000 or $1 million in US-based projects designed to create at least 10 full-time jobs in order to receive a conditional EB5 green card. Hotel developers love the program because hotel projects tend to easily produce the jobs - including desk personnel, valets, managers, and housekeeping workers - that allow investors to keep their visas. Though hotel growth in the US is still sluggish after a prolonged economic downturn, EB5 is expected to account for one-quarter of a percentage point of hotel industry growth from 2012 to 2013. Industry analysts expect hotel growth of 1.1% in 2013, up from 0.9% in 2012.
Vermont Has a Statewide EB5 Program
Vermont currently has the only statewide EB5 Regional Center in the country, with the state government approving and reviewing investment projects. So far the state has plowed $500 million into its Northeast Kingdom development project. With the state acting as an overseer to the program, investors feel more confident that their EB5 investment in Vermont will be a solid investment. The Vermont government and local developers with experience in EB5 funding have actively sought out investors in other countries who are interested in obtaining an EB5 green card.
Florida Is a Magnet for EB5 Immigrants and Projects
The state of Florida is also a magnet for EB5 projects. Florida has long been attractive to immigrants under all immigration programs, and EB5 is no exception. Hotel and real estate developments in the Sunshine State have kept EB5 immigration lawyers and consultants busy over the past couple of years. While most EB5 investors in recent years have come from China and Korea, foreign nationals of other countries are starting to develop increased interest in the program. For example, Mexico is sending more investors to the US under the program, and Central and South American countries are also seeing more investors move to the US under the EB5 immigration program.
EB5 Grew Much More Popular in 2012
The EB5 program has been around since 1990, but until 2012, few knew about it. The program picked up traction after the 2008 world economic downturn, as developers and other entrepreneurs searched for financing in an era when bank lending for businesses was tight. In 2006, there were only 502 EB5 visas granted, a number that jumped to 3,463 in 2011 and 7,641 in 2012. Some speculate that the limit of 10,000 EB5 visas will be reached in 2013 or 2014.
Since 1990, Billions in Investment Capital through EB5
Since the beginning of the EB5 immigration program around 50,000 jobs have been created due to EB5 investment, and nearly $7 billion in investment capital has been raised under the program. With numbers rapidly increasing in the past two years, the role of EB5 consultants and immigration attorneys with EB5 experience has increased dramatically. Like any type of immigration, EB5 is complex, with the added requirements of proving funds used for the program came from lawful means and placing capital in escrow as applications work their way through the system. There is no reason to expect a lull in EB5 enthusiasm any time soon.
Vermont Has a Statewide EB5 Program
Vermont currently has the only statewide EB5 Regional Center in the country, with the state government approving and reviewing investment projects. So far the state has plowed $500 million into its Northeast Kingdom development project. With the state acting as an overseer to the program, investors feel more confident that their EB5 investment in Vermont will be a solid investment. The Vermont government and local developers with experience in EB5 funding have actively sought out investors in other countries who are interested in obtaining an EB5 green card.
Florida Is a Magnet for EB5 Immigrants and Projects
The state of Florida is also a magnet for EB5 projects. Florida has long been attractive to immigrants under all immigration programs, and EB5 is no exception. Hotel and real estate developments in the Sunshine State have kept EB5 immigration lawyers and consultants busy over the past couple of years. While most EB5 investors in recent years have come from China and Korea, foreign nationals of other countries are starting to develop increased interest in the program. For example, Mexico is sending more investors to the US under the program, and Central and South American countries are also seeing more investors move to the US under the EB5 immigration program.
EB5 Grew Much More Popular in 2012
The EB5 program has been around since 1990, but until 2012, few knew about it. The program picked up traction after the 2008 world economic downturn, as developers and other entrepreneurs searched for financing in an era when bank lending for businesses was tight. In 2006, there were only 502 EB5 visas granted, a number that jumped to 3,463 in 2011 and 7,641 in 2012. Some speculate that the limit of 10,000 EB5 visas will be reached in 2013 or 2014.
Since 1990, Billions in Investment Capital through EB5
Since the beginning of the EB5 immigration program around 50,000 jobs have been created due to EB5 investment, and nearly $7 billion in investment capital has been raised under the program. With numbers rapidly increasing in the past two years, the role of EB5 consultants and immigration attorneys with EB5 experience has increased dramatically. Like any type of immigration, EB5 is complex, with the added requirements of proving funds used for the program came from lawful means and placing capital in escrow as applications work their way through the system. There is no reason to expect a lull in EB5 enthusiasm any time soon.