After reading a few case studies on couples from foreign countries who have chosen to retire in the United States, and who used the EB-5 "investors" entry as a means to gain entry, this story outlines some of the main considerations that some have made, and the possible outcomes obtained.
Our fictitious couple for the purpose of this article will be the Songlants. They had traveled in the United States over a period of twenty years for business, and grew accustomed to the small city way-of-life in North Carolina. They sought ways to come to the United States in their retirement years, and establish permanent residence here. However, the choices for entry through specialized employment did not offer the possibility of permanent residence status.
After seeking legal advice, they choose to look into the EB-5 immigration program. This visa program allows entry into the United States for those individuals who are able to form a business, such as a sole proprietorship or corporation, and hire at least 10 workers within a 2-year period. This program also requires a capital investment of at least 1 million dollars, in general, or a minimum of $500,000 in a rural area or area of high unemployment.
That is the general outline of the visa that they were considering. In order to make the minimum capital investment, they could sell their existing property and use the money to invest in a real estate property with rental potential. The property could also be used as a conference center, and house one or more store fronts.
After considering the options and evaluating the risks, the couple applied for their EB-5 and received approval within 6 weeks. They were able relocate and establish their business within 6 months, and began filling the rental properties soon after.
This story is a conglomeration of several actual occurrences where couples have entered the United States under the EB-5 for the purpose of retiring here. Some of the positive aspects of this program are the ability to gain status in the United States, and the relatively short period before approval.
Some of the negatives to this program are the risks involved in entering into a business venture, especially if one is not familiar with the small city culture in the United States. Being able to meet the minimal capital requirements may also present a challenge to those seeking this type of entry.
All-in-all, the EB-5 presents a reasonable option for foreigners to retire in the United States, and to obtain status in this country. With proper planning and a familiarity with the culture, this program has great value to attracting successful business investors into the country.
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Great article. Some quality information provided here. Immigration is such a difficult and bureaucratic process particularly as the US policies seem to change perpetually. Will be sure to let people know about your services as this comes from time to time amongst my friends.
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