The EB-5 investment program is an excellent option for foreign nationals who are planning to relocate permanently to the United States. In the decades since its creation, the program has helped thousands of investors and their families gain U.S. permanent residency. In 2022, there has been a rising trend of Canadian citizens planning to make the United States their new home. In its history, Canada has been a country with a very high quality of life. However, its most promising and attractive characteristics have experienced challenges in recent months and appear to be disappearing. Because of this, many wealthy Canadian citizens have chosen to immigrate, and the EB-5 visa has been the perfect program to facilitate that.
The Advantages of the EB-5 Investment Program
In comparison to other visa options, such as the H-1B lottery, the EB5 investment visa has been a historically safe and efficient pathway to permanent resident status in the United States. The EB-5 visa is straightforward, and if investors comply with the regulations of United States Citizenship and Immigration Services (USCIS), they are very likely to have their I-526 petitions approved.
The way the EB-5 program works is simple—foreign nationals are granted U.S. permanent resident status if they invest at least $500,000 in a U.S. business. There are, of course, other requirements that need to be met. For example, the new commercial enterprise (NCE) must create at least 10 jobs. The type of jobs that are counted will differ depending on whether the project follows the direct EB-5 investment model or is part of the regional center program. As of February 2022, the direct investment program has become the most commonly used, as the regional center program has been suspended since June 2021. Once an investor provides USCIS with evidence that the funds have been irrevocably committed and that the job creation requirement has been met, they and their immediate family are granted a conditional residency of two years. At the end of that time, the investment project is reviewed by USCIS to ensure it still meets all of the entity’s regulations, and then the investor and their family are granted permanent residency.
For Canadian investors looking to make this a permanent move, there is an even greater benefit. After five years of receiving their permanent resident status, investors and their families are eligible to apply for citizenship in the United States.
Canadian nationals who intend to apply for an EB-5 investment visa should begin the process as soon as possible. As of February 2022, the investment threshold of $500,000 is expected to increase to $750,000. More information is expected to be available after Congress meets on March 11 to vote on a potential reform bill. This only gives foreign nationals a short window in which to begin the EB-5 investment process with a guaranteed investment threshold of $500,000.
Choosing the Right Investment Project
It is essential for foreign nationals to seek the help of an immigration attorney to guide them throughout the EB5 investment process. In order for an EB-5 visa to be adjudicated, USCIS has strict regulations that must be followed. As such, investors would do well to seek the help of legal counsel to ensure that they find a qualified project to invest in. Doing so will greatly increase their chances of being granted permanent resident status.
To learn more about finding a qualifying investment project and other information about the EB-5 program, Canadian nationals are able to attend in-person seminars free of charge. EB-5 Affiliate Network (EB5AN), a top consulting firm in the industry, will host these in Toronto and Montreal in March and April 2022. EB5AN has helped nearly 2,000 investors and their families begin the EB-5 process.
It’s possible that there will be significant changes in the future for Canada, which makes this the right time to consider immigrating. The EB-5 investment visa is a safe opportunity for Canadian citizens to relocate and start fresh in the United States.