Prospective EB-5 investors from Richmond Hill, New York are exploring the benefits of investing in EB5AN State of New York EB-5 Regional Center projects. This USCIS-approved EB-5 regional center boasts geographic coverage spanning all of Southeastern Queens, including the city of Richmond Hill and its surrounding areas.
Below, you’ll learn more about the basic requirements for participating in the EB-5 Immigrant Investor Program, the advantages of a regional center partnership with EB5AN, what successful completion of a program investment can mean for an investor and their qualified family members, and what Richmond Hill, in particular, has to offer local EB-5 investors.
Five Basic Requirements for Success in an EB-5 Investment
Regardless of where a program-approved project is located, or which method of investment a participant chooses, there are five basic requirements every EB-5 investment must meet in order to be considered successful:
- The Minimum Investment Requirement. Projects positioned outside of designated targeted employment areas (TEAs) require a minimum investment of $1.8 million. All EB5AN projects, however, qualify for a lower minimum investment ($900,000) because they are located within TEAs.
- The Source-of-Funds Requirement. EB-5 investors are required to provide evidence that all capital funding was sourced lawfully.
- The Requirement for Program-Approved Investments. Each qualified EB-5 investment participant must invest capital into either a new commercial enterprise or a troubled business.
- The Job Creation Requirement. Every successful EB-5 investment must demonstrate that it has created or preserved a minimum of 10 full-time employment positions for U.S. workers for a minimum of 2 years.
- The At-Risk Requirement. All EB-5 investment capital must maintain at-risk status for the entire investment period.
Qualified EB-5 investors always have two options for participating in an EB-5 investment:
- 1. They can invest directly in a program-approved project.
- 2. They can partner with a USCIS-approved EB-5 Regional Center and make a passive investment.
Most EB-5 Investors Choose to Partner with Regional Centers
Statistics show that the majority of EB-5 investors elect to partner with regional centers on their investments. And there are two main reasons for this. First, they simplify the process for demonstrating required job creation. Specifically, regional centers are allowed to utilize the indirect method of calculating jobs through an approved economic methodology. This is something direct EB-5 investors cannot do. Regional center investment participants only need to show that their invested funds were spent according to the business plan, while direct investors must provide documentation of full time (W-2) employees proving they were hired and remained employed for at least two full years.
Second, EB-5 regional centers have the ability to streamline the EB-5 investment process for EB-5 applicants overall. For instance, EB5AN maintains multiple USCIS-approved regional centers with broad geographic coverage. This not only enables the center to immediately sponsor strong EB-5 projects in cities across the United States (including Richmond Hill, New York), but also means its investors are backed by years of industry knowledge and experience.
Learn more about how working with The EB5AN Richmond Hill, New York Regional Center can benefit you by watching this video:
Prospective EB-5 investors have the option to choose EB5 investment projects located anywhere in the United States. However, anyone living in Richmond Hill may prefer to invest in a project closer to home. If an investor decides to make a local investment, they will be able to affiliate with EB5AN’s State of New York Regional Center which provides project coverage across the entire state, including in Richmond Hill and neighboring areas.
Is Richmond Hill, New York Appropriate for My EB-5 Investment?
Rich in culture and history, Richmond Hill is an area of Queens full of places to worship for people of all faiths. The unusual density of religious sites and private religious schools in Sikh, Muslim, Catholic, Eastern Orthodox, Jewish, and Hindu traditions is testament to the depth of diversity in the area. The neighborhood is often referred to as “Little Punjab” for its large Punjabi population.
Like much of Queens, Richmond Hill is a place where people of similar ethnic subcultures have gathered for common experiences and solidarity, starting businesses, restaurants, and schools to keep their language, traditions, and culture alive.
Richmond Hill: Population and Income Demographics
From an economic standpoint, Richmond Hill is a smaller neighborhood among the Queens communities. Its population is around 85,000. A little over 15% of the population falls below the poverty line and median household income hovers at $70,000 annually. What this means for EB-5 investors is that their capital investment will greatly benefit this targeted employment area.
Evaluating Potential EB-5 Projects in the Richmond Hill Area
Evaluating the potential risks–from both a financial and an immigration perspective–can be a daunting endeavor. Still, it’s a necessary one. As an example, let’s look at the EB-5 at-risk requirement. This was a measure enlisted to help maintain the integrity of this residency-by-investment program. It ensures foreign capital is, in fact, aiding the U.S. economy and that investors are not simply “buying” their way into the United States.
This does not mean, however, that EB-5 investors should invest in a “risky” project. Instead, they must prove that the capital remains susceptible to both losses and gains throughout the entire investment period. EB5AN advises every EB5 investment participant to thoroughly conduct due diligence in order to reduce their chances of exposure to financial and immigration risks.
This core philosophy led to a collaboration between EB5AN and Klasko Immigration Law Partners on the development of an EB-5 Project Risk Assessment Tool available to their EB-5 investors. The easy-to-use tool helps navigate investors through the initial stages of due diligence in evaluating EB-5 projects from both financial and immigration risk perspectives. Test it out for yourself by clicking the link below:
EB-5 Investment Success in Richmond Hill, New York: What’s Next?
The direct benefits for a Richmond Hill-based EB-5 investor making an EB-5 investment include the following:
Resident and Citizen Benefits
- A relatively direct path to U.S. permanent residency.
- Ability to apply for U.S. citizenship after five years as a permanent resident.
- Retired U.S. green card carriers can access both stateside and overseas pensions, and some even qualify for social programs like Medicare.
Foreign and Domestic Travel Benefits
- Eligible to travel anywhere inside the U.S., restriction free.
- Reduced travel restrictions and generally the ability to leave and enter the U.S. without reentry denial.
- EB-5 investors and their families facing political change or other significant events in their home country may be granted immediate U.S. entry.
- Ability to work and live anywhere in the country
- Freedom to enjoy local benefits from local cultural to state tax benefits
- No employer or visa sponsor required and no H-1B work visa required to work.
- The right to free public elementary, middle, and high school education.
- Savings on in-state tuition, access to scholarships and other financial aid available for public university and college expenses.
- Greater likelihood of American university admission (by up to 350%) compared to international students.
- Permission to work while studying, to intern, and/or to apply for employment.
Interested in Investing in Richmond Hill? Call EB5AN and Learn How
EB5AN maintains a number of EB-5 investment projects available to qualified Richmond Hill residents. EB-5 investors from Richmond Hill and the surrounding areas in New York should reach out to EB5AN to learn more about the EB5 investment projects currently open to investment and sponsored by an EB5AN EB-5 regional center.
No matter where you come from, if you are a foreign national in Richmond Hill considering making an EB-5 investment, the team at EB5AN can help. Call us at 1-800-288-9138, or send us an e-mail at info@EB5AN.com.