EB-5 investors from Utah 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 Utah.
The EB5AN State of Utah Regional Center
Potential EB-5 investors may select EB-5 investments located anywhere in the United States. Those living in Utah, however, may simply want to invest in projects located within the state, and EB5AN already has a USCIS-approved regional center in Utah.
The EB5AN Southwest Regional Center covers all counties in the state of Utah, including the largest cities in the state.
Salt Lake City is the capital, most populous city, and industrial banking hub of Utah. With a population of 200,133, it houses the offices of several important service firms in various sectors, including transportation and utilities. West Valley City is the second-largest city in the state. Its population is 140,230.
West Jordan is another important hub at the state level. With a population of 116,961, it is located near the Bingham Canyon Mine, one of the most productive copper mines globally.
Utah’s tourism industry is largely centered around Park City, which houses world-class ski resorts and several other venues for winter sports. It is also the home of the Sundance Film Festival. Park City generates a yearly average of $529.8 million in tourism revenues.
Green Card Benefits for Utah EB-5 Investors
The direct benefits of making an EB-5 investment in Utah 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 Utah 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 $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 Utah 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 Utah
Utah: Population and Income Demographics
According to the U.S. Census, Utah has a population of approximately 3.3 million. Of this, approximately 1,740,000 people are in the labor force, with 1,703,000 employed and 37,000 unemployed.
Utah: General Economic Outlook
Utah covers an area of 219,887 square miles, with an approximate width of 270 miles and a length of 350 miles. This implies a population density of 37.2 people per square mile, which makes Utah one of the less densely populated states in the United States.
The capital and largest city of Utah is Salt Lake City, and the largest metro area is the Salt Lake City metro area. Utah’s 2020 gross domestic product (GDP) was $171.37 billion. This implies a per capita GDP of about $51,407. Utah has the 29th-largest economy in the United States by GDP.
In the 20th century, tourism, manufacturing, the service industries, and real estate have contributed to Utah’s economic development.
EB-5 Investors from Utah
EB5AN has EB-5 investment projects that are available to residents of the state of Utah. EB-5 investors from Utah 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 Utah, if you are a foreign national considering making an EB-5 investment, the team at EB5AN can help. Click here to schedule a call to learn more about currently available EB-5 investment opportunities.