Known for being "wealthy," Chinese investment immigrants to the U.S. have increased significantly.
As the new affluent class in mainland China initiates a new wave of immigration, the number of applicants for U.S. investment immigration has grown rapidly. The economic downturn in the United States led to a nearly threefold increase in EB-5 investment immigration visa applications last year, with many of these investors coming from Asia, particularly China. These investment immigration regulations require applicants to invest at least $500,000 in high-unemployment areas to establish new enterprises.
The U.S. Citizenship and Immigration Services (USCIS) has recently accelerated the review process for investment immigration, eliminating the need for interviews. Temporary green cards are granted four months after the application is submitted, with the fastest approvals occurring in as little as five weeks. However, the key lies in whether a permanent green card can be obtained after two years. It is exceptionally important that the investment project and procedures meet all requirements and can withstand scrutiny.
The U.S. has relaxed its investment immigration policies, accelerated processing speeds, simplified procedures, and eased the verification of the source of funds, all of which have caused the popularity of Chinese investment immigration to rise rapidly. Meanwhile, Canada raised its threshold for investment immigration starting June 26 of this year, causing many to turn to the United States. Most Chinese people traveling to the U.S. through the EB-5 investment visa program are the wives or adult children of wealthy families.
Since the investment immigration category was introduced in 1990, the immigration authorities have allocated 10,000 spots annually, and the number of applicants had "never reached the quota" until now; however, the situation may change this year. Industry insiders believe that if this trend continues, the number of applications next year may exceed 10,000.
Regional centers are agencies approved by the immigration authorities to act on behalf of investment immigrants and assist investors in submitting immigration applications. There are 99 regional centers across the United States, nearly 30 more than in 2009. Furthermore, in the $500,000 investment projects, investors have much greater initiative because they can control the operation of the company themselves.
The EB-5 investment visa program provides a convenient channel for entrepreneurs preparing to immigrate to the United States. Investors must prove that their assets were obtained legally, which means they are required to demonstrate that their investment funds were acquired through salary income, investments, property sales, inheritance, gifts, loans, or other legal means. If the funds are derived from corporate assets, they do not meet the requirements.
