The U.S. Department of Homeland Security (DHS) has released its immigration-related statistics for the fiscal year. Through this data, we can observe certain development trends in the structure of U.S. immigration.
Total Volume Increases with Significant Growth in Asian and Investment Immigration
Data shows that in 2009, a total of 1,130,818 people obtained U.S. green cards, an increase of 2.1% over 2008. Notably, 394,874 of these were Asian immigrants, accounting for approximately 35% of the total. Even more unexpectedly, the number of EB-5 investment immigration approvals jumped from 1,360 in 2008 to 3,688 in 2009, achieving a more than twofold increase and demonstrating very strong growth momentum.
Strong Economic Power of Chinese Immigrants Suggests Future Surge in Investment Immigration
With the massive emergence of high-net-worth individuals, the impulse to invest capital is also increasing. In recent years, China's real estate market has been booming, and supported by strong financial resources, housing prices in China have been driven to "sky-high" levels. Capital operation is inseparable from investment, and in the current uncertain investment environment in China, capital is seeking an exit.
Most wealthy Chinese individuals possess significant economic strength. Currently, the investment prospects for China's stock and property markets are unclear, and the real estate market has recently been hit by strict government policies. At this moment, investment immigration has become an excellent choice, as immigration is an investment in one's own future and represents a very stable form of investment. In fact, most of those who obtained U.S. green cards through investment in 2009 began their applications several years prior and were only approved in 2009, which is why the number was not excessively high. However, since 2008, the number of Chinese applicants for U.S. investment immigration has already begun to surge, and it is believed that in the coming years, the number of people obtaining U.S. green cards through investment will increase significantly, potentially even doubling."
EB-5 Investment Immigration Act Expires in 2013; Immigration Reform May Have an Impact
Currently, U.S. investment immigration is primarily conducted through the EB-5 program. This act was originally scheduled to expire in 2009; however, due to the impact of the financial crisis and the sluggish U.S. economy in 2009, the act was extended until 2013.
Because President Obama did not fulfill his promise to "conduct immigration reform within one year of taking office," calls for U.S. immigration reform have grown increasingly loud. Although Congress has indicated that immigration reform is unlikely to take place this year, it is very likely to be placed on the agenda next year. At that time, the reform policies may also affect the EB-5 investment immigration act.
