EB-5 investors from Pennsylvania seeking an EB-5 investment should consider the benefits of investing in an EB5 Affiliate Network (EB5AN) EB-5 visa project.
Why Do Most EB-5 Investors Use Regional Centers?
EB-5 regional centers streamline the EB-5 investment process for potential EB-5 applicants and make it easier to demonstrate required job creation. Specifically, only regional centers may use the indirect method of calculating jobs through an approved economic methodology. This means that EB-5 investors must show only that their invested funds were spent according to the business plan rather than documenting that full time (W-2) employees were hired and remained employed for at least two full years.
EB5AN maintains multiple USCIS-approved regional centers with broad geographic coverage, enabling it to immediately sponsor strong EB-5 projects across the United States, including Pennsylvania.
The EB5AN Commonwealth of Pennsylvania Regional Center
Potential EB-5 investors may select EB-5 investments located anywhere in the United States. Those living in Pennsylvania, however, may simply want to invest in projects located within the state, and EB5AN already has a USCIS-approved regional center in Pennsylvania.
The EB5 Affiliate Network Commonwealth of Pennsylvania Regional Center covers all counties in Pennsylvania, including the largest cities in the state. Pittsburgh is home to eight Fortune 500 companies, including U.S. Steel, PPG Industries, and H.J. Heinz. In all, Pennsylvania is home to fifty Fortune 500 companies. Erie is also home to GE Transportation Systems, which is the largest producer of train locomotives in the United States.
Green Card Benefits for Pennsylvania EB-5 Investors
The direct benefits of making an EB-5 investment in Pennsylvania include the following:
Residency and Citizenship Benefits
- EB-5 is one of the fastest methods to gain permanent residency in the United States for the EB-5 investor, his or her spouse, and their unmarried children under 21 years of age.
- Retired green card holders can access their pensions earned abroad and in the United States. They may also qualify for Medicare and other social welfare programs.
- Green card holders may apply for U.S. citizenship after a minimum of five years of established permanent residency in the United States.
- Green card holders are free to live and work anywhere in the United States, without restriction.
- Live anywhere, from the beaches of California and Hawaii to the mountains of Colorado, from a quiet, rural town to the hustle and bustle of New York City.
- Live in states such as Pennsylvania and Texas with no state income tax.
- The EB-5 program does not require a visa sponsor or employer sponsor
- Green card holders do not need H-1B work visa in order to work
- Green card holders can leave and enter the country without being denied reentry, although some travel restrictions apply.
- Green card holders are free to travel to any part of the United States.
- In the event of a political change or significant event in the investor’s home country, the investor and his or her family can immediately gain entry to the United States.
- Green card holders have free access to public elementary, middle, and high schools and lower-cost in-state tuition at public colleges and universities.
- U.S. residency improves the likelihood of U.S. university admission by as much as 350%.
- Green card holders qualify for in-state tuition, financial aid, and scholarships.
- Permanent residents can also work while studying, complete internships, and apply for postgraduate positions.
Primary EB-5 Investment Requirements
The primary EB-5 investment requirements can be summarized as follows:
- Investing a minimum of $900,000 for EB-5 investments made in rural or high unemployment areas designated as targeted employment areas (TEAs). Projects outside of TEAs require an investment of $1,800,000, but all of EB5AN’s EB-5 investment projects are located in TEAs and qualify for the lower investment threshold of $900,000.
- Creating or preserving at least 10 full-time jobs for qualifying U.S. workers that last a minimum of two years.
- Investing in a new commercial enterprise or a troubled business.
- Maintaining the at-risk status of the investment and using investment funds that have been lawfully sourced.
How to Evaluate EB-5 Investment Projects
EB-5 investors based in Pennsylvania should evaluate both financial and immigration risk when selecting an EB-5 investment project.
One of the requirements of a successful EB-5 visa investment is that the investment capital must be at risk for the duration of the investment. This is to ensure investors actually invest their capital and are not simply “buying” a U.S. green card.
“At risk” does not mean that EB-5 investors are required to invest in “risky” projects. Quite the contrary—EB-5 investors are strongly recommended to conduct thorough due diligence to minimize their exposure to financial and immigration risk.
EB5AN, in collaboration with Klasko Immigration Law Partners, has developed an EB-5 Project Risk Assessment Tool for EB-5 investors. This highly functional, easy-to-use tool guides investors through the initial diligence of EB-5 projects from both financial and immigration risk perspectives.
More Information about Pennsylvania
Pennsylvania: Population and Income Demographics
According to the 2010 U.S. Census, Pennsylvania has a population of approximately 10.3 million people over the age of 16. Of this, there are approximately 6.5 million people in the labor force, with 5.9 million who are employed and 581,000 who are unemployed.
Pennsylvania: General Economic Outlook
Pennsylvania covers an area of 46,055 square miles, with a width of 280 miles and a length of 160 miles. This implies a population density of 285.5 people per square mile, which makes Pennsylvania the ninth-most densely populated state in the United States.
The capital of Pennsylvania is Harrisburg, the largest city is Philadelphia, and the largest metro area is the Delaware Valley. The gross domestic product (GDP) of Pennsylvania in 2010 was $570 billion. This implies a compound annual growth rate from 2000 to 2010 of 3.71% and a per capita GDP of $39,830. Pennsylvania has the sixth-largest economy in the United States by GDP.
If Pennsylvania were an independent country, its economy would rank as the 18th-largest in the world. On a per capita basis, Pennsylvania’s per capita GSP of $47,274 (in chained 2009 dollars) ranks 26th among the 50 states.
EB-5 Investors from Pennsylvania
EB5AN has EB-5 investment projects that are available to Pennsylvania residents. EB-5 investors from Pennsylvania can inquire about EB-5 investment projects that are currently open to investment and are sponsored by an EB5AN EB-5 regional center.
If you are an EB-5 investor wanting to make an EB5 investment in any of the following cities, don’t hesitate to reach out to EB5AN with any questions about us or the EB-5 program:
No matter where you live in Pennsylvania, if you are a foreign national considering making an EB-5 investment, the team at EB5 Affiliate Network can help. Click here to schedule a call to learn more about currently available EB-5 investment opportunities.