One of the attractive options for South Africans to get into the USA – the USA EB-5 Visa Programme – is set to expire on 30 June.<\/p>\n
While there is growing support to reauthorize the programme, there are no guarantees at this stage, said Nadia Read Thaele, director of LIO Global, a specialist firm in Residence and Citizenship by investment programs.<\/p>\n
Thaele said that the required investment was raised considerably last year, and it is possible that the US may look to tighten up despite the more immigration-friendly Biden administration.<\/p>\n
She added that the route is particularly popular for wealthy South Africans and that demand for the EB-5 programme has more than doubled over the last three years.<\/p>\n
“The programme was established to attract capital from foreign individuals who meet specific investment and job creation requirements. It requires an investment of $900,000 (R14.4 million) and there are essentially two options for South African investors, she said.<\/p>\n
“The first is to invest $1 million (about R15 million) in a new commercial enterprise, or $900,000 in a targeted employment area (TEA) which employs 10 US workers directly. The applicant must actively manage the policy formation and day-to-day activities of the enterprise.<\/p>\n
“The second, and more popular route, also requires $900,000 but in an at-risk approved US job-creating centre which creates employment for at least 10 US workers. ”<\/p>\n
Thaele said that there is no requirement to be involved at all, which is why about 90% of all applicants choose this option.<\/p>\n
“The program offers a relatively easy route to citizenship. After five years from receiving a conditional Green Card, the main applicant and his\/her family become eligible to apply for citizenship.<\/p>\n
“Candidates can retain their South Africa citizenship as the US permits dual citizenship. She says further there is no language, age, education, managerial or skill requirements.”<\/p>\n
Where a South African passport is quite restricted, a US passport is literally a passport to the world, offering visa-free travel to over 180 countries including the Eurozone, UK, Australia and more.<\/p>\n
“Many families also opt for the EB-5 program as a means to offer their children access to education in the USA as your children can attend the US schools and universities,” she said.<\/p>\n