EB-5 investors from South Carolina 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 South Carolina.
The EB5AN State of South Carolina Regional Center
Potential EB-5 investors may select EB-5 investments located anywhere in the United States. Those living in South Carolina, however, may simply want to invest in projects located within the state, and EB5AN already has a USCIS-approved regional center in South Carolina.
The EB5 Affiliate Network State of South Carolina Regional Center covers all counties in the state of South Carolina, including the largest cities in the state.
In South Carolina, EB-5 investment has supported the direct creation of 120 jobs. These jobs were the result of roughly $12.57 million in direct investment from EB-5 projects, contributing $12.49 million to the state’s GDP. EB-5 investment in South Carolina also contributed $1.26 million to federal revenue and $.078 million to South Carolina state government and local municipal revenue.
Green Card Benefits for South Carolina EB-5 Investors
The direct benefits of making an EB-5 investment in South Carolina 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 South Carolina 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 South Carolina 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 South Carolina
South Carolina: Population and Income Demographics
According to the 2010 U.S. Census, South Carolina has a population of approximately 3.87 million people over the age of 16. Within this group, approximately 2.4 million people are in the labor force, with 2.1 million who are employed and 0.2 million unemployed.
South Carolina: General Economic Outlook
South Carolina covers an area of 32,030 square miles, with a width of 200 miles and a length of 260 miles. This implies a population density of 153.9 people per square mile, which makes South Carolina the 19th-most densely populated state in the United States.
The capital of South Carolina is Columbia, the largest city is also Columbia, and the largest metro area is the Charlotte metro area. The gross domestic product (GDP) of South Carolina in 2010 was $162 billion. This implies a compound annual growth rate from 2000 to 2010 of 4.51% and a per capita GDP of $37,063. South Carolina has the 26th-largest economy in the United States by GDP.
In the 20th century, manufacturing, healthcare, retail, education, hospitality, construction, and professional services have contributed to South Carolina’s economic development. The economy of South Carolina is driven almost entirely by its seven metropolitan areas. In 2004, they produced a combined total of 95.7% of the state of South Carolina’s domestic product.
EB-5 Investors from South Carolina
EB5AN has EB-5 investment projects that are available to residents of the state of South Carolina. EB-5 investors from South Carolina can inquire about EB-5 investment projects that are currently open to investment and are sponsored by an EB5AN EB-5 regional center.
No matter where you live in South Carolina, 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.