EB-5 Investors from Rhode Island Seeking EB-5 Investment

EB-5 investors from Rhode Island seeking an EB-5 investment should consider the benefits of investing in an 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 Rhode Island.

The EB5AN State of Rhode Island Regional Center

Potential EB-5 investors may select EB-5 investments located anywhere in the United States. Those living in Rhode Island, however, may simply want to invest in projects located within the state, and EB5AN already has a USCIS-approved regional center in Rhode Island.

The EB5AN Northeast Regional Center is expected to receive USCIS approval in 2023, at which time it will be licensed to sponsor EB-5 investment projects throughout all five counties in the state of Rhode Island, including the largest cities in the state.

Home to 190,934 inhabitants, Providence is Rhode Island’s capital and most populous city. Situated at the head of the Narragansett Bay, Providence boasts the second-largest deep water seaport in New England. The city is also home to Brown University, an Ivy League university and one of nine colonial colleges in the nation.

Rhode Island’s second-largest city is Cranston with a population of 82,934. Because it is included in the Providence metropolitan area it is considered a suburban community of the state capital. Cranston is notable for featuring numerous historical sites and one of the largest outdoor swimming pools in the United States.

Warwick, the third-most populated city in Rhode Island, is home to 82,823 residents. It has witnessed several major events in American history, such as King Philip’s War and the Gaspee Affair. Today, it is home to the state’s main airport, T.F. Green Airport.

Green Card Benefits for Rhode Island EB-5 Investors

The direct benefits of making an EB-5 investment in Rhode Island 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.

Employment Benefits

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 Rhode Island 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 an H-1B work visa in order to work.

Travel Benefits

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.

Education Benefits

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 $800,000 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 $1,050,000, but all of EB5AN’s EB-5 investment projects are located in TEAs and qualify for the lower investment threshold of $800,000.
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 Rhode Island 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.

Download our EB-5 Project Risk Assessment Questionnaire

More Information about Rhode Island

Rhode Island: Population and Income Demographics

According to the U.S. Census, Rhode Island has a population of 1,095,610. Of this, approximately 591,545 people are in the labor force, with 546,249 employed and 45,296 unemployed.

Rhode Island: General Economic Outlook

Rhode Island covers an area of 1,545 square miles, with an approximate width of 37 miles and a length of 48 miles, making it the smallest U.S. state by area. With a population density of 1,006 people per square mile, Rhode Island is among the top three most-densely populated states.

The city of Providence is both Rhode Island’s capital and most populated city. The largest metropolitan area is also that of Providence, which is included in the Greater Boston Combined Statistical Area. Rhode Island’s 2021 gross domestic product (GDP) was $54.61 billion. This implies a per capita GDP of $60,185

During the state’s infancy, Rhode Island was a major contributor to the American Industrial Revolution, particularly the Blackstone River Valley. In fact, Slater Mill in Pawtucket is cited as the birthplace of the aforementioned era. In contrast to Rhode Island’s industrial history, its economy is now primarily based on services. Due to this shift in economic bases, the state contains numerous abandoned factories, many of which are now museums, offices, condominiums, and low-income and elderly housing. Today, key sectors in Rhode Island’s economy include health care, education, biomedicine, tourism, defense shipbuilding, and manufacturing.