Saturday, November 23, 2024

EB-5 is the most popular golden visa program in the world

The EB-5 immigrant investor program  dubbed as ‘US golden visa’ is the world’s most popular scheme to immigrate to the United States for wealthy foreigners.

The EB-5 was created by Congress in 1992 with the intent of stimulating economic development across U.S. communities through capital investment by foreign entrepreneurs.  Currently foreign investors are required to $500,000 and create jobs to receive a green card despite long waiting times of over 20 months, with over 24,000 EB-5 petitions pending with USCIS. The EB-5 scheme has been extended until Sep 30, 2018.

Here is the economic impact of EB-5 in the US, according to IIUSA. From FY2010 to 2015

  • $16.54 Billion in capital investment has been generated by the EB-5 Program
  • 276,210 U.S. Jobs created for American workers across the country.
  • $37.09 Billion contributed to U.S. economy in terms of gross domestic products (GDP).
  • $5.22 Billion in U.S. tax revenues for federal, state, and local governments.

EB-5 job creation by state

  •  CALIFORNIA – 72,600 U.S. jobs
  • NEW YORK – 66,100 U.S. jobs
  • FLORIDA – 24,600 U.S. jobs
  • TEXAS – 18,600 U.S. jobs
  • WASHINGTON – 17,600 U.S. jobs
  • OTHER – 15,500 U.S. jobs

Comparison of EB-5 to other golden visa programs in the world based on total investment received

  • United States – $16.5 billion
  • Canada – $15.2 billion
  • Australia – A$ 10.05 billion
  • Cyprus – €4 billion
  • Portugal – €3.9 billion
  • Spain – €3 billion
  • United Kingdom – £2.8 billion
  • St Kitts and Nevis – EC$2.1 billion
  • Greece – €1.5 billion
  • Malta – €650m
  • Ireland – €209m (2012-2016)
Prabhu Balakrishnan
Prabhu Balakrishnan
Founder of Citizenship by Investment News. Chief Editor with over 15 years experience in PR and News publishing. He Loves writing about citizenship, residency and wealth migration. CIP Journal is a Leading publication founded in 2017 bringing latest news from CBI/RBI market.

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