With the uncertainty of Brexit, many South Africans are considering the USA as a possible country to immigrate to. One of the popular ways to gain permanent residency in the United States is through the EB-5 Investor Green Card program.

More South Africans head to the USA

Industry data has revealed that there has been a massive 486% increase in the number of EB-5 applications filed by South Africans over the past three years. South Africans are not alone in their consideration of the USA as a possible expat destination. Residents from the Middle East and Europe are also eyeing the country with interest due to its excellent educational facilities – the USA currently dominates the QS World University Rankings – the stable and growing economy and the quality of life the country offers.

The criteria for the EB-5 Investor

In order to qualify for the Eb-5 Investor program, you will need to invest $500 000 in a project that creates 10 full-time jobs for Americans. The visa will give you as the investor, your spouse and unmarried children under the age of 21 permanent residency in the USA. The EB-5 program has already provided a huge boost to the American economy and helped create thousands of jobs for US workers.

Investment projects for the EB-5 Visa

There are a wide variety of projects you can invest in if you are considering the EB-5 Visa. Many investors aim for real estate development projects, but whatever project you decide on, you should do your research diligently before choosing an EB-5 investment

If you want to take advantage of this visa, you might have to hurry as there are proposals on the table to increase the minimum investment from $500 000 to $ 1 350 000 and these proposals are just waiting for final implementation and could come into effect early in 2019! If you attain your American green card, you and your spouse will be able to live, work and study in the USA permanently.

Unlike sponsored green cards, the EB-5 visa gives you the widest scope and flexibility in terms of your career options. Children who receive their green cards along with their parents can study at American universities with the same rights in place as an American citizen and often quickly find jobs after graduation.

How long does an EB-5 Visa take?

If you are looking to move to the USA in the near future, you should consider applying as soon as possible for the EB-5 program as current waiting times indicate that it can take as long as two and a half years before an application is processed. Once your green card has been issued, you will need to make the USA your primary residence, but you will still be able to travel freely outside the USA.

If you are a South African moving to the USA, we wish you all the best with your journey. While we cannot assist you with your visas, we recommend that you have all your paperwork in place prior to your move. If you would like to know how you can maximise your finances through financial emigration, accessing your South African retirement annuity and our tailor-made tax solutions for South Africans around the world, contact FinGlobal today.