Why the EB-5 visa program is so popular with the Chinese
EB-5 visa applications are on the rise and have shown to be consistently doubling for the better part of 5 years. For 2012, the top 5 applying countries for EB-5 visas are: China, South Korea, Taiwan, Iran and Venezuela. Chinese investors account for an overwhelming 70% of the total EB5 investment, followed by 9% from South Korea, with the remaining countries in the top 5 each amounting to 3% or less. But why are Chinese people so eager to move?
According to the 2012 World Wealth Report, the Asian Pacific geographic surpassed North America and Europe in the HNWI population. In layman’s terms, Asia, or more specifically China, had the highest amount of people with a wealth of at least one million U.S. dollars. Population boosts in nations like China and India have severely contributed to the pollution crisis currently existing in already densely populated areas. This is just one example of a geographic circumstance that results in a lower quality of life for themselves and their families.
The attractiveness of the EB-5 program is the potential for a green card and eventual citizenship eligibility simply for making an investment; this is something that the Wall Street Journal sites as occurring within 90 percent of wealthy individuals around the world anyway. The program requires that the applicant make an investment of at least $1 million in a project in the United States, the point being that jobs are created or conserved. However, the most popular option utilized by the Chinese, with an overwhelming 90-95% of all Chinese applicants, is the regional center investment option. This program only requires a $500,000 investment in an economically starved area. As mentioned above, Chinese investors make up an overwhelming majority of these applications, but the maximum number of visas allocated by the USCIS has yet to reach fruition.
Why the United States though? There are several factors that make the option of residing in the United States more attractive than other parts of the world. Furthermore, the most selfless reason must surely be the opportunity to have access to a higher quality of education. According to Forbes, few Chinese are able to test into the top-tier of Chinese Universities due to an overwhelming statistical variance in competition in contrast to the western world. Adding to the mathematical improbability, the high tuition costs that provide small returns on investment force wealthy Chinese individuals to turn elsewhere. Education is just one of several benefits that the United States has to offer, but an easy way to summarize the motivation of these wealthy Chinese individuals may exist in a few words from our constitutional bill of rights: The pursuit of happiness.
John B. Buda
Buda Law Group
Please note that Buda Law Group has served many families interested in the EB5 Investor Visa Program, always with successful results. At Buda Law Group, we speak English, Chinese, Spanish, and Russian!
Originally posted at: http://www.articlesbase.com/immigration-articles/why-the-eb-5-visa-program-is-so-popular-with-the-chinese-6474515.html