Successful EB5 visa application provides foreign nationals an opportunity to obtain a U.S. green card “in return” for making a “job-creating investment” within the United States. Thus it is different from investing in property in some countries such as Cyprus.
A Regional Center is an area designated by the USCIS (United States Citizenship & Immigration Services) as eligible to receive immigrant investor capital. They are especially attractive because investors may rely on indirect job creation rather than directly hiring ten employees, which carries greater risk.
For immigration purposes, ‘immediate family’ is defined as the investor, the investor’s spouse, and all their unmarried children under the age of 21 at the time of the visa application. That is, if the EB-5 application is filed before the child is 21 – even though he or she turns 21 during the process – your child is eligible for the EB5 Visa. Adopted children are also eligible.
Funds may come from any legal foreign or US source; including gifts, loans, executive pension funds (SIPPS), trusts and divorce settlements. Whoever receives the visa must make the investment. Borrowed investment funds qualify as long as they are not secured by the assets of the EB-5 investment.
The minimum period for an American Life EB-5 investment is approximately four years. This is the time between making the investment and ‘conditions’ removal (permanent residency). Once conditions are removed investor is free to sell the investment.
This green card is ‘conditional’. Once you have emigrated, must apply to have ‘conditions’ removed from this green card after 1 year and 9 months in the USA. Processing takes six or eight months. ‘Conditions’ removal means that all family members have permanent residency and the visa is no longer tied to the investment.
The PRP is granted for Lifetime.
Although by virtue of the acquis communautaire EU countries are bound to respect PRP issued by EU member countries, the individual countries can have their own restrictions and hence, need to check that country’s regulation before visiting that country.
A holder of a PRP who eventually wishes to be granted Citizenship has an advantage in that he may legally reside in the Republic for five consecutive years prior to filing an application for Citizenship by naturalization in the traditional way.
There are no residency prerequisites either prior to filing the Citizenship application or following the granting of Citizenship. This is one of the many benefits of the Cypriot Citizenship by Investment program.
To maintain Cyprus Citizenship acquired via the Investment Program, the investor must always honor the conditions on which citizenship was granted. This includes maintaining possession of a residential property in Cyprus of a minimum value of €500,000. The relevant investment (i.e. real estate, government bonds, etc.) can only be disposed of/liquidated after the expiration of the three year period.
Yes, it does, which is very beneficial for many reasons, including:
Since the Investor is not required to reside in Cyprus, it is possible to rent out their privately owned residence. It is also possible to replace the residential property with another residential property of the same or higher value than €500,000 at any time.