U.S. media CNN reports that a large number of wealthy individuals from China are applying for U.S. investment immigration, and this trend is profoundly affecting the U.S. EB-5 program.
The U.S. EB-5 program is now well-known, allowing any non-U.S. citizen (foreign national) who is willing to invest $500,000 to directly or indirectly create 10 jobs in the U.S. to apply for U.S. investment immigration, known as EB-5. Due to the large number of applicants, especially the enthusiasm of residents from mainland China for the EB-5 program, the U.S. government has issued warnings that there may be a backlog in U.S. investment immigration this summer.
According to statistics released by the government, CNN's Wealth Channel shows that 10 years ago, only 13% of green cards issued in the U.S. were for Chinese applicants, but this figure has now risen to over 80%. In 2013 alone, nearly 6,900 people changed their status, compared to only 16 in 2004, indicating a remarkable growth rate.
Currently, there is news causing panic among Chinese investors: with such high demand for EB-5 in China, future applications may face queueing.
The U.S. EB-5 program only offers 10,000 visas each year, including those for spouses and children of investors. Currently, there are over 7,000 I-526 applications submitted globally, and if only a portion pass the review, calculating two family members per investor, the program could easily exceed the annual limit.
For the wealthy class in China, U.S. investment immigration is quite attractive. A green card can provide children with better university education, escape pollution, and live in a higher quality and more secure environment. Additionally, investing in the U.S. EB-5 program is relatively inexpensive; for example, Australia requires an investment of $4.5 million, which is at least nine times that of U.S. investment immigration.
