Those in Connecticut interested in making an EB-5 investment should investigate investing in a project offered by EB5 Affiliate Network (EB5AN).
Why Most EB-5 Investors Invest through Regional Centers
EB-5 regional centers simplify the EB-5 investment process and carry different requirements for job creation. Only regional centers may calculate jobs created indirectly using an approved economic methodology. EB-5 investors who make their EB-5 investment through a regional center are only required to show that their invested funds were spent in accordance with the business plan instead of documenting that full time (W-2) employees were employed and remained so for at least two full years.
EB5AN has multiple regional centers approved by USCIS with broad geographic coverage. This network enables EB5AN to immediately sponsor EB-5 projects around the United States, including in Connecticut.
The EB5AN State of Connecticut Regional Center
EB-5 investors may make their EB-5 investment in a project located anywhere in the United States. Those in Connecticut, however, may find it easier to invest in projects located within Connecticut. Thankfully, EB5AN already has a regional center in Connecticut that is USCIS-approved.
The EB5 Affiliate Network State of Connecticut Regional Center covers many counties in the state of Connecticut, including some of the largest cities in the state. The historic Hartford is just one of the cities covered by EB5AN’s regional center and is filled with economic potential.
Connecticut’s capital is Hartford, its largest city is Bridgeport, and its largest metro area is the Greater Hartford area. Connecticut’s gross domestic product (GDP) in 2010 was $237 billion. This figure implies a compound annual growth rate of 3.77% from 2000 to 2010 and a per capita GDP of $59,132. This makes Connecticut the 23rd-largest economy in the U.S. by GDP.
More Information about Connecticut
Connecticut: Population and Income Demographics
According to the U.S. Census, Connecticut has a population of approximately 2.9 million people over the age of 16. Approximately 2 million people are in the labor force, with 1.8 million employed and 191,000 unemployed.
Connecticut: General Economic Outlook
Connecticut covers an area of 5,543 square miles, with a width of 70 miles and a length of 110 miles. This implies a population density of 739 people per square mile, which makes Connecticut the fourth-most densely populated state in the United States.
The capital of Connecticut is Hartford, its largest city is Bridgeport, and its largest metro area is the Greater Hartford area. The gross domestic product (GDP) of Connecticut in 2010 was $237 billion. This implies a compound annual growth rate from 2000 to 2010 of 3.77% and a per capita GDP of $59,132. Connecticut has the 23rd-largest economy in the United States by GDP.
Connecticut’s per capita personal income was estimated at $60,847 in 2013, the highest of any state. However, there is a great income disparity; after New York, Connecticut had the second-largest gap from the average incomes of the top 1% and the average income of the bottom 99%. New Canaan is Connecticut’s wealthiest town, with a per capita income of $85,459. Darien, Greenwich, Weston, Westport also have per capita incomes over $65,000.
Green Card Benefits for Connecticut EB-5 Investors
There are many reasons to make an EB-5 investment in Connecticut, including the following:
- Green card holders can access public elementary, middle, and high schools and qualify for in-state tuition at public universities.
- Green card status also improves the chance of admission to U.S. universities by as much as 350%.
- Green card holders can qualify for in-state tuition, financial aid, or scholarships.
- Permanent residents are also able to work while studying, participate in internships and, apply for postgraduate positions.
Residency and Citizenship Benefits
- EB-5 is one of the fastest ways to gain green card status in the United States. If granted, this permanent residency status extends to the EB-5 investor, his or her spouse, and any unmarried children who are under 21 years of age.
- Retired green card holders can still access their pensions earned abroad in the United States. Retired green card holders may also qualify for Medicare or other social welfare programs.
- Those with permanent residency may apply for U.S. citizenship following at least five years of established permanent residency spent in the U.S.
- Green card holders are able to live and work in the U.S., without restriction.
- They can also live anywhere, from the beaches of Hawaii to the mountains of Montana, from a quiet, small town to the fast-paced New York City.
- They are also able to live in states like Texas which does not have a state income tax.
- Importantly, the EB-5 program does not require visa or employer sponsorship
- Green card holders also do not need an H-1B work visa to work
- Green card holders are able to leave and enter the U.S., although some travel restrictions apply.
- Those with green card status are also free to travel throughout the United States.
What are the Primary EB-5 Investment Requirements?
The primary EB-5 investment requirements are as follows:
- Investing at least $900,000 as an EB-5 investment in a project located in a rural or high-unemployment area designated as a targeted employment area (TEA). Projects outside of TEAs need an investment of $1,800,000. However, all EB5AN’s EB-5 investment projects qualify for the lower investment threshold of $900,000 as they are located in TEAs.
- Making an investment in a new commercial enterprise (NCE) or a troubled business.
- Creating or maintaining at least 10 full-time jobs for qualified U.S. workers that last at least two years.
- Keeping the investment at-risk and using funds for the investment that have been lawfully sourced.
How Can you Evaluate EB-5 Investment Projects?
EB-5 investors based in Connecticut should evaluate financial and immigration risk when they select an EB-5 investment project.
A successful EB-5 visa investment must have investment capital at risk for the entire duration of the investment. This requirement ensures that investors invest their capital and do not simply “buy” a U.S. green card.
This “at risk” designation does not mean that EB-5 investors must invest in “risky” projects. In fact, EB-5 investors should conduct thorough due diligence in order to minimize their financial and immigration risk.
EB5AN, working with Klasko Immigration Law Partners, has created an EB-5 Project Risk Assessment Tool for EB-5 investors. This easy-to-use tool helps investors conduct the initial diligence from financial and immigration risk perspectives.
EB-5 Investors from Connecticut
EB5AN has several EB-5 investment projects available to residents of the state of Connecticut. EB-5 investors from Connecticut can inquire about which EB-5 investment projects are currently open to investment.
EB-5 investors from the following Connecticut cities and others are encouraged to learn more about the EB-5 investment process:
No matter where you live in Connecticut, if you are a foreign national interested in making an EB-5 investment, the EB5 Affiliate Network team can help. Click here to schedule a call and learn more about currently available opportunities for EB-5 investment.