Starting roughly in 2007, the U.S. investment immigration program suddenly began to flourish. On one hand, following the financial crisis, the U.S. faced severe unemployment, a tightening financial market, and difficulty in obtaining loans, forcing localities and businesses to rely more heavily on capital from overseas investors. On the other hand, after the financial crisis, the Chinese government injected 4 trillion yuan to rescue the market, leading to a massive influx of capital into real estate and skyrocketing housing prices. Chinese people suddenly realized that selling one property was more than enough to fund an investment immigration application. Coupled with the continuous appreciation of the RMB, "moving money to the U.S." became very worthwhile and affordable. Initially, South Koreans were the largest group of investment immigrants, but the Chinese later caught up and firmly occupied the top spot.
Since 2009, the number of applicants for investment immigration has grown rapidly, nearly doubling every year, with the majority being wealthy Chinese individuals. According to statistics from the immigration authorities, there were 6,434 applications for the EB-5 investment immigration program in 2013, with 3,696 cases approved. Approximately 80% of these were Chinese. Including immediate family members accompanying the immigrants, a total of 6,895 Chinese people were issued immigration visas, ranking first among foreign investment immigrants; South Korea ranked second with only 384 people.
Will the United States follow Canada's lead and close its doors to investment immigrants, especially the Chinese investment immigrants who make up the majority? On February 19, Bentley, a press officer at the U.S. Citizenship and Immigration Services (USCIS) headquarters in Washington, stated definitively in an interview with a reporter from the U.S.-based "China Press": "The EB-5 investment immigration program is beneficial to the U.S. economy." According to statistics from Invest In the USA (IIUSA), the EB-5 program has brought $6.7 billion in investment to the U.S. since 2005 and created 95,000 jobs.
The United States has always been the top choice for Chinese immigrants. In 2013, China became the second-largest source of new immigrants to the U.S., with 2.2 million immigrants born in mainland China, accounting for 17% of the total number of new immigrants, second only to Mexico (13 million). As Canada's immigration threshold continues to rise, it is expected that more Chinese applicants will shift their focus to the United States. For example, Chinese investors who originally intended to invest in Vancouver are now considering Seattle. It is close by, the climate and environment are similar, and housing prices are much cheaper than in Vancouver, while rental yields are significantly higher.
Media reports reveal that due to factors such as an excessive number of applicants, the U.S. Congress is currently considering increasing the investment amount for the EB-5 investment immigration program. The U.S. Department of State has also issued a warning that due to the rise in investment immigration applications, applicants for the program may face a green card backlog for the first time later in 2014. When the backlog will appear and how long it will last will depend on the specific number of applicants.
In light of the current situation, Starryland immigration experts remind investors to select their investment projects as early as possible and expedite their applications to take advantage of the "high-quality and affordable" opportunities offered by U.S. investment immigration. Faced with the current large number of EB-5 projects of varying quality, many investors do not know how to distinguish between them. As a leading institution in U.S. investment immigration, Starryland's professional project selection capability has been highly recognized by the industry and investors, achieving the impressive record of having 12 major projects receive I-526 approval within 10 months in 2013. In 2014, Starryland continues to uphold the "selected projects" philosophy and grandly launches the exclusive first-agency "Kroker City Square Expansion Project." All previous projects in the regional center have been successfully approved, featuring a low EB-5 investment ratio, a three-fold employment surplus, and dual repayment guarantees. Project seminars will be held this Saturday and Sunday in Shenzhen, Shanghai, and Beijing. Please call to reserve your spot at 400-138-2929
Shenzhen March 8 (Saturday) 14:30 Rome Hall, 1st Floor, The Venice Hotel, Nanshan District, Shenzhen
Shanghai March 9 (Sunday) 14:30 Jin Hai Hall, 3rd Floor, Four Seasons Hotel Pudong, Shanghai
Beijing March 9 (Sunday) 14:30 Banquet Hall A, 1st Floor, China World Hotel
