Steep Rise in Russian EB-5 applications for 2014
The EB-5 Investment Program was created by the US federal government in 1990. With this program, foreign nationals have an opportunity to obtain U.S. green card eligibility by investing $1 million (or $500,000 if the EB-5 investment is made in the project located in a Targeted Employment Area) in the USA project or company that allows either to maintain or to create at least 10 full-time jobs.
The following is a statistics chart regarding EB-5 filings for fiscal year 2014 from the U.S. Department of the Visa Office.
Please note that in 2013 Buda Law Group posted a blog similar to this titled, “EB5 and Russia”, where Russia’s EB-5 prospects were discussed. The number of applications in 2011 from that report was listed at 30. In just three years, as can be seen in the chart above, Russia has increased its EB-5 applications for direct and regional target investments by more than three times, at a staggering 100 applications for the 2014 year.
This rising trend for Russian EB-5 applications can certainly be attributed to Russia’s intense attempts to become a more modern, open economy that more actively participates in the global economy. Recently Russia has hit a bit of a Public Relations fallback with its “aggressive” behavior with the Ukraine, causing a very large consensus of worry and apprehension amongst its millionaire elites. Currently, Russia is well on its way to exceeding 1,000 millionaire households and will certainly accomplish this before 2020. Therefore it comes as no surprise that EB-5 application and investment numbers have tripled in the recent 2014 year.
With all of this being said, the United States and Russia have come far in the last 20 years, so it is quite refreshing to see these strides in immigration with countries that used to be at each other’s throats. Unfortunately, there still exist many myths and misinterpretations surrounding the EB-5 program in Russia. This is why it is vital that individuals interested in making an EB-5 investment in order to attain a U.S. visa be properly educated to understand the EB-5 program and its requirements, benefits, and risks.
Buda Law Group has had years of successful experience serving families interested in the EB-5 Investor Visa Program and always had successful results. We would be happy to answer any and all questions related to this complex yet exciting visa, so please contact us and get a free consultation regarding any of your immigration needs.
John B. Buda, Esq.www.budalawgroup.net office: 626-796-1422 [email protected] 1201 W. Huntington Dr. Suite 209 Arcadia, CA 91007