Historically, Canada has been considered a prosperous developed country with economic stability and a high quality of life. These factors have all helped Canada build a strong worldwide image. However, as of 2022, Canada’s previously attractive qualities have rather diminished due to unprecedented fissures appearing in the country’s once relatively balanced socioeconomic temperament. Affluent Canadians are now seeking to leave behind these new circumstances, and using the EB-5 investment visa route to move to the United States has proven to be a highly viable option.
The Advantages of the EB-5 Visa for Canadian Nationals
Amongst the many risky and prolonged immigration routes that offer the potential for attaining a U.S. Green Card, the EB-5 visa is a highly viable route for Canadians. Unlike the H-1B visa, which involves substantial unreliability, the EB-5 investment program is comparatively a much faster method of obtaining permanent residency in the United States. Granted a prospective EB5 investor adheres to the relevant rules and guidelines, their project will be plausibly granted approval by United States Citizenship and Immigration Services (USCIS).
The EB-5 program’s essential give and take is to grant U.S. Green Cards to foreign nationals who invest a minimum of $800,000 in a legitimate business. In terms of legitimizing documentation, USCIS needs proof that investment capital has been definitively committed and that the funding will go towards the generation of a minimum of 10 jobs. When all these qualifications are met, the investor is given a two-year conditional residency period. After the period has passed, USCIS adjudicates the investor’s project to see if the employment criteria and other qualifications have been fulfilled– granted they have, the investor is then given permanent residency. Permanent residency entails the right to live and work anywhere in the United States.
For Canadian investors with families, including spouses and dependents, the members of their family also qualify for U.S. Green Cards. Visa sponsors are not necessary. Moreover, Canadian EB-5 investors and their families are eligible to apply for U.S. citizenship after five years of being permanent residents.
How to Begin an EB-5 Investment
Finding a venture that adheres to USCIS requirements can be difficult, as the government agency has stringent measures on the criteria for employment generation as well as the way EB-5 ventures can be managed. Therefore, prospective investors are advised to consult with an industry expert to navigate the initial challenges of securing a dependable and profitable EB-5 investment project.
For Canadians looking to learn more about the EB5 investment process, educational tools include the upcoming seminars by EB5 Affiliate Network (EB5AN). EB5AN is one of the foremost advisory experts in the industry. The network has assisted over 1,900 families in beginning the EB5 investment process. During these seminars, prospective investors can seek answers and counsel through the firm’s managing partner.
Many changes have taken place in Canada and these changes indicate new unforeseen challenges to come. For Canadians looking to leave behind the struggles and move to the United States, the EB-5 visa route is a highly reputed and promising option.