*This article is based on information shared in a BizNews webinar sponsored by Sable International.
With professional immigration advisors and reputable investment partners, moving to the US is easy for those with money.
However, as with any investment, do your research, and ensure the opportunity is suitable to your family needs and budget.
Sable International – immigration and wealth advisors – reports that a large number of South African families want to relocate to the US. “The first-world amenities and low employment levels make the country attractive,” says Sandra Woest, senior director for Southern Africa. She was speaking at a Sable-sponsored BizNews webinar (see below).
What is the EB-5 program all about?
The EB-5 visa is a permanent residency program offered by the US government. Its aim is to stimulate the economy through job creation and capital investment while offering a Green Card and citizenship to investors. This extends to the spouse and children under 21 years old. Retirees are also eligible for this visa.
“Unlike other visas, the EB-5 is not restrictive – you can live anywhere in the United States of America. The only thing one cannot do is vote until the citizenship application process is complete,” says Kirk D. Eicholtz, Christian Tyler Properties CEO and President.
Over 750 people from 30 countries have successfully relocated to the US through this program since its inception.
However, for children over 21 and other families, there is the E2 investor visa. Substantial investment is required but is far less than the EB-5. For example, through the Grenada passport, an investor could buy a franchise thus creating two jobs for Americans. Sable International offers many visa programs designed to match investor needs, says Woest.
Capital investment
The required capital investment into any project is US$900,000. This can be either cash, loans from financial institutions or family contributions. Only legal source of funds are accepted. This money is then invested into projects to create employment. Investors get all the lump sum back with interest after five years.
In dollar terms, returns are quite attractive at 50 basis points, says Christian Taulbee, EB-5 investor liaison at Christian Tyler Properties. Low US interest rates also bode well for investors.
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- How to move to the UK: The best visa routes in 2020
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Apart from capital, upfront additional costs are in the region of approximately US$70,000 for legal fees and related administration costs. This is based on a family of four.
On approval, an investor can move to the US. There is flexibility of up to a year which allows for proper planning of the move. It can take up to five years to obtain citizenship.
Find reputable partners
In South Africa, Sable International has assisted many families emigrate to the US via this program. Together with partners Christian Tyler Properties in the US, they offer tailor-made packages for investors.
They provide all the information and advice from accounting, tax affairs to immigration putting investors’ minds at ease.
According to Andrew Rissik, commercial director for international projects, partnering with the right professionals is key to avoid investment risks. The US is a big economy, and anyone managing your investment need to manage and mitigate any risk well during the five year period. “Relocating is expensive, especially if you move and find that you don’t like it once there.”
Listen to the BizNews webinar recording, sponsored by Sable, on EB-5 visa program.
