On June 18th, Mr. Kraft hosted “Opportunities and Risk Assessment”, a USA Immigration Investor (EB-5) seminar. The wildly successful, standing room only event was hold in conjunction with AmCham China. Bob Kraft is Chairman, President, and CEO of FirstPathway Partners, a firm investing money on behalf of foreign citizens seeking United States permanent green card status and/or citizenship under Homeland Security’s EB-5 Regional Center Program.
During the seminar, Mr. Kraft covered several key topics, including merits, challenges, and pitfalls of the EB-5 program.
Pitfalls
Some of the pitfalls of the EB-5 program include quota retrogression, a 10,000 applicant cap placed on the EB-5 program by the United States government. This limits the amount of applications allowed, as it monitors the volume of new immigrants entering the country. If retrogression hits, an applicant would still be able to submit an application, but they must wait until visas become available in order to receive a Conditional Green Card. Another pitfall for some is that Green Card holders must declare their worldwide income and assets in the United States. It’s important to understand that filing a tax return does not necessarily indicate that the U.S. government will tax all of an investor’s worldwide income. Additionally, there’s a high chance the investor will receive a U.S. tax credit for income taxes paid in other countries. The final noteworthy pitfall of the program is the requirement that Green Card holders must enter the country at least once every 180 days.
Challenges
There are a couple of challenges associated with the program. There is an initial monetary investment of $500,000, and the application process itself can take up to one year, although wait times have been steadily improving. The investor is challenged with creating ten new jobs within the chosen investment.
Merits
Of course the program has numerous advantages and benefits. Some key merits include the investor having the ability to choose exactly where to live in the United States and the ability to work for any employer in any position. The investor may choose to operate their own business or even retire. The investor should know that the program covers Green Cards for the entire family (children up to 21 years of age are included). There are a growing number of investors choosing America for its vast number of educational opportunities. Investors should feel at ease knowing that they are eligible to receive in-state tuition, with easy access to some of the highest-rated educational facilities in the world. Another advantage of the U.S. program is that the nation ranks 2nd on Henley & Partners Vista Restriction Index, a global ranking of countries according to the travel freedom that their citizens enjoy. The U.S.’ high ranking indicates that its citizens can travel without a visa to numerous other countries, with easier access into territories compared to other countries.
The United States has exceptional environmental conditions (clean air, low indoor and outdoor pollutants, unlimited water supply, wide, open space, and extensive power infrastructure). Also, investors have the power to strengthen the United States’ economy, with meeting the job creation requirement.
Why FirstPathway Partners?
As you can see, there are many benefits to participating in the EB-5 program and becoming a United States citizen. FirstPathway Partners will assist you throughout your application process to ensure DHS acceptance and help qualify you for a green card and citizenship. FirstPathway Partners has extensive experience in immigration application processing and approval and carefully vets projects for EB-5 sustainability, risk, and capital preservation. The company has assisted hundreds of immigrant investors through the EB-5 program since 2008, raising millions in EB-5 funds for job-creating enterprises. It remains one of the few regional centers to have obtained I-829 approval, placing it in the highest category of EB-5 industry achievement.