International travel has become significantly more difficult during the COVID-19 pandemic. However, while travel and immigration to the United States remain challenging during the pandemic, immigration remains a great option in a post-pandemic world. The EB-5 program is considered the most efficient path to obtain U.S. permanent residency. This article explains the benefits to immigrating the United States under the EB-5 investment program.
You Will Be Able to Be with Your Family
Whether your family resides mostly in the United States or in your home country, they are a dominant factor in your decision to move to the United States. If you have family that lives in the United States, this is a great opportunity to spend time with them.
To maintain conditional permanent residency status, you must reside predominantly in the United States without taking extended international trips. If you are the first of your relatives to relocate to the United States, this requirement may seem daunting, but after five years of permanent residency you may apply for U.S. citizenship. Once you have citizenship, there are no international travel restrictions. When an investor receives an EB-5 visa, their spouse and unmarried children under the age of 21 are also eligible for U.S. green card status.
Invaluable Access to American Education
Colleges and colleges worldwide have moved to online learning to minimize the spread of COVID-19. However, U.S. universities have not lost their prestige during their shift to virtual classes. It is difficult to be accepted to these prestigious universities, such as Harvard, Stanford, and Yale, and international students often have to battle for the few spots open to them.
Attaining a U.S. green card, however, opens up many academic opportunities for students. With a green card, EB-5 visa holders will have an easier time getting into these competitive universities. Green card holders and U.S. citizens have a 4.5 percent chance of being accepted to Harvard, whereas international applicants have only a 0.1% chance of admission. EB-5 visa holders applying to public universities could also be eligible to benefit from in-state tuition savings. In addition, many U.S. students work during their time at a university and EB-5 visa holders would be eligible to do so as well.
The U.S. Economy Is Already Recovering from COVID-19
In order to keep small businesses running during the financial downturn caused by the pandemic, the U.S. government has provided extensive aid. However, this downturn was not due to diminished consumer demand, which is often the case during recessions. Consequently, many expect a quick recovery following the pandemic. We may also see an influx in innovation in industries that have become prominent during the past year, such as health care, technology, and e-commerce businesses.
The Pandemic Has Created an Ideal Environment for EB-5 Projects
The coronavirus hit many cities hard, and places where rents were high, such as New York City, have seen significant vacancies and drops in property values. As unemployment rates have increased in many parts of the country, different parts of the United States could qualify as targeted employment areas (TEAs). This would result in EB-5 investors having a lower minimum investment amount for projects in these areas.
An accumulation of all these factors and the end of the pandemic may make this the ideal time for investors to make an EB-5 investment.
The COVID-19 Pandemic Should Not Deter Prospective EB-5 Investors
Immigrating to the United States during the pandemic has been difficult, to say the least. Despite the closure of U.S. embassies and consulates, EB-5 applications have continued. In fact, I-526 petitions have the potential to be processed faster than they were before the pandemic, making this a great time to make an EB-5 investment for those who are able to.