United States grants Green Cards to foreign investors who are capable of investing in US business ventures. This is the Immigrant Investor Program of the United States which brings many wealthy foreign nationals to the United States, who are willing to invest significant amounts in the country. Through this investment, a foreign national is also able to get a permanent place in the United States. People who are well aware of the EB-5 visa program of the United States, say that many innovative projects in South Florida have been established, through this immigrant investor program and many foreign nationals are found to invest in the businesses in South Florida.
Innovative projects include the University of Miami’s Life Science & Technology Park and many more projects. New jobs are created through these projects and this also results in economic development. Through this immigrant investor program, investors are not only granted Green Cards, but the investment made by them is being used to create jobs without making use of the taxes paid by the people in the country, according to an attorney, Maralyn Leaf.
To become eligible for a Green Card through this program, a foreign national must invest $1 million or at least $500,000 in existing businesses or in new businesses. However, there is also a restriction in the areas where they must invest and the foreign nationals will have to invest only in targeted employment areas. This program was planned in order to boost up the US economy through the investment made by foreign investors as their investment creates new jobs. And the investment made by a foreign investor must create a minimum of ten full-time jobs to Americans.
Many new businesses have been established in Florida through this program. New businesses include, hotels, restaurants and other enterprises. As this program is found to be beneficial, the local government wishes to set up a regional center for the EB-5 program, at City Hall. A regional center at Greater Miami generated around $20 million from 40 foreign investors. This investment was utilized to develop the Life Science & Technology Park. Some investors have also started their own businesses.