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EB-5 visas particularly appealing to Chinese

Depending on one's background, there may be multiple ways to obtain a visa a move to the United States. For individuals who have money to invest, an EB-5 visa may be a possibility. Individuals who come to the U.S. on one of these visas may be able to obtain a permanent green card and maybe even citizenship.

There are of course certain qualifications that an investor must meet. These qualifications include having $500,000 to invest and an approved regional center to invest in. The regional center must be in a location that is economically challenged and the investment must create at least 10 jobs for individuals who reside in that area. Each year a total of 10,000 of these visas can be granted. This number refers not only to the investor, but his or her children and spouse as well.

While this program is open to residents of any country who meet the qualifications, one country in particular is showing great interest. That country is China. There are multiple reasons why this visa is appealing to rich Chinese, including:

  • A better quality of life.
  • An escape from pollution.
  • The opportunity to send their children to college in the U.S.
  • The reasonable price associated with these visas as compared to other countries.
  • The recent elimination of a similar program in Canada.

The program is proving to be so popular with individuals from China that the year’s cap could be reached soon. According to one attorney, at this point 7,000 applications are pending. Because of competition for these visas it is important that applicants complete the process correctly. Since this can be complicated most would probably benefit from working with an immigration lawyer.

Source: CNN Money, “Rich Chinese overwhelm U.S. visa program,” Sophia Yan, March 25, 2014

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