Residents of Illinois interesting in making an EB-5 investment should examine the benefits of investing with the EB5 Affiliate Network (EB5AN).
EB-5 Investors from Illinois
EB5AN is currently offering several EB-5 investment projects to residents of Illinois. Potential EB-5 investors from Illinois can ask about EB-5 investment projects sponsored by an EB5AN EB-5 regional center that are open to investment.
EB-5 investors from the Illinois cities found below and others are encouraged to reach out to EB5AN to discuss the EB-5 investment process:
- Des Plaines
- Hoffman Estates
If you are a foreign national interested in making an EB-5 investment, the team at EB5 Affiliate Network is here to help. Schedule a call to learn more about what EB-5 investment opportunities are currently available.
More Information about Illinois
What do Illinois’ Population and Income Demographics Look Like?
According to the U.S. Census, Illinois has a population of approximately 10 million people over the age of 16. Of this, approximately 6.7 million people are in the labor force, with 6 million employed and 700,000 million unemployed.
Illinois: General Economic Outlook
Illinois covers an area of 57,914 square miles, with an approximate width of 210 miles and a length of 395 miles. This implies a population density of 232 people per square mile.
The capital of Illinois is Springfield, and its largest city and metro area is Chicago and the Chicago metropolitan area. In 2010, the state’s gross domestic product or GDP was $652 billion. This figure implies that Illinois possesses the fifth-largest economy in the United States according to GDP.
Illinois’ economy is fairly diverse, and the Chicago metropolitan area has some of the nation’s largest companies, including United Airlines, Motorola, Boeing, and McDonald’s. A wide variety of financial institutions also call Chicago home, and the city has one of the world’s largest futures exchanges in the Chicago Mercantile Exchange.
Why Do Most EB-5 Investors Use Regional Centers?
EB-5 regional centers streamline the EB-5 investment process and make it easier to satisfy the program’s job creation requirements. Regional centers make these requirements easier to satisfy because they can use the indirect method of calculating jobs using an economist. This means that EB-5 investors only need to show that their invested funds were spent instead of documenting direct job creation where full time (W-2) employees were hired and then remained employed for a minimum of two full years.
EB5AN has many USCIS-approved regional centers that give it an extensive network of coverage, enabling it to sponsor strong EB-5 projects immediately across the United States, including in Illinois.
The EB5AN State of Illinois Regional Center
Potential EB-5 investors can make their EB-5 investment in a project located anywhere in the United States. For those living in Illinois, however, it might be simpler to invest in projects that are located within the state.
EB5AN already has a regional center in Illinois called the EB5 Affiliate Network State of Illinois Regional Center. This regional center covers all 102 counties in the state of Illinois, including cities like Aurora, Chicago, or Springfield.
Aurora is known for its famous landmarks like the Phillips Park Zoo and is also an attractive destination for students and foreign investors due to its education opportunities and financial promise, respectively. Chicago is one of the most famous U.S. cities and has a number of sights like the Willis Tower and a number of the world’s best universities. Springfield also offers a number of historical landmarks, such as the Abraham Lincoln Presidential Library and Museum, as well as the renowned University of Illinois at Springfield.
What are the Benefits of a Green Card for Illinois EB-5 Investors
The primary benefits of making an EB-5 investment in Illinois include the following:
Residency and Citizenship Benefits
- Green card holders can apply for U.S. citizenship after a period of five years of established permanent residency in the United States.
- EB-5 is also one of the fastest methods for an immigrant to gain permanent residency in the United States. The EB-5 investor, his or her spouse, and their unmarried children under 21 years of age can all qualify under the EB-5 investment program.
- Retired green card holders can still access their pensions earned abroad and in the United States. These individuals may also qualify for Medicare and other social welfare programs.
- Green card holders can live and work anywhere in the United States from the beaches of California and Hawaii to the mountains of Colorado. The EB-5 program also does not require a visa sponsor or employer sponsor and green card holders are not required to hold a H-1B work visa if they want to work.
- Although some travel restrictions may apply, green card holders can leave and enter the country without being denied reentry.
- Green card holders are also free to travel to any part of the United States without restriction.
- In the event of either a political change or a significant event in the investor’s home country, both the investor and their family can immediately gain entry to the United States.
- Green card holders can attend public elementary, middle, and high schools for free and are eligible to receive lower-cost in-state tuition at public colleges and universities.
- U.S. green card status also increases the chance of U.S. university admission by as much as 350%.
- Green card holders can also receive in-state tuition, financial aid, and scholarships.
- Permanent residents can work while completing their studies and apply for internships, jobs, and other postgraduate positions.
What are the Primary EB-5 Investment Requirements?
The primary EB-5 investment requirements are:
- A minimum investment of $900,000 for EB-5 investments made in rural or high unemployment areas considered targeted employment areas (TEAs). Projects outside of these areas require an investment of $1,800,000, although all of EB5AN’s EB-5 investment projects and qualify for the lower investment threshold of $900,000.
- Investors must make their investment in a new commercial enterprise (NCE) or a troubled business and maintain the investment’s “at-risk” status for the duration of the investment.
- The investment must also be lawfully sourced.
- To be successful, an EB-5 investment must either create or preserve a minimum of 10 full-time jobs for qualifying U.S. workers that last at least two years.
How Can Investors Evaluate EB-5 Investment Projects?
EB-5 investors based in Illinois ought to consider both financial and immigration risks when selecting an EB-5 investment project.
A requirement for a successful EB-5 visa investment is that the investment capital must be at risk for the entire duration of the investment. This requirement is made to ensure that investors actually invest their capital and cannot simply “buy” a U.S. green card.
This “at risk” description is misleading as it does not imply that EB-5 investors should invest in “risky” projects. EB-5 investors are in fact strongly recommended to conduct thorough due diligence to minimize possible exposure to financial and immigration risk.
Working with Klasko Immigration Law Partners, EB5AN has developed an EB-5 Project Risk Assessment Tool for EB-5 investors to use. This easy-to-use, highly functional tool guides investors through their initial diligence considering both financial and immigration risk perspectives.