Ohio residents who are also foreign nationals should consider making an EB-5 investment to obtain permanent residency. Fortunately, EB5AN already has a USCIS-approved regional center in Ohio called the EB-5 Affiliate Network (EB5AN) State of Ohio Regional Center.
What Is a Regional Center and Why Do So Many EB-5 Investors Prefer Using Them?
EB-5 regional centers are organizations that receive special approval through USCIS to help match EB-5 investors with particular investment projects and facilitate the investment process. When someone invests through a regional center, they get a host of benefits other investors don’t. One of the biggest benefits is that only regional centers are allowed to calculate job creation utilizing the approved indirect job creation method indirect method. Under this method investors are not required to provide documentation showing that the project resulted in the hiring of the requisite number of full-time employees or that those jobs lasted for 2+ years. Instead, the only requirement is that the investor proves that the funds they invested were used according to the approved business plan.
There are a number of regional centers that EB5AN operates across the U.S., including one in Ohio.
What Is the Value in Investing Through the Ohio Regional Center Operated by EB5AN?
If you want to make an EB-5 investment, you are not limited to Ohio – you can choose any project across the U.S. However, some investors prefer to invest close to home and give back to their local community. If this idea appeals to you, it is within your best interests to learn more about the projects EB5AN already has at our Ohio regional center.
No matter where you might want to invest in the state, our Ohio Regional Center has you covered. Its coverage area encompasses all 88 counties in the state and all the biggest cities.
Direct Benefits EB-5 Investors Get for Investing in the Buckeye State
Ohio foreign nationals who decide to make an EB-5 investment in the state enjoy a wide variety of benefits, such as:
Permanent Residency and the Possibility of Citizenship
- Compared to other visa programs, EB-5 is incredibly fast. Even better, it allows investors to bring not only their spouses, but also unmarried, minor children who have not yet turned 21.
- When you retire, you are allowed to receive pension benefits both from U.S.-based employers as well as those overseas. Moreover, you have a chance to qualify to get social assistance such as Medicare.
- After five years as a U.S. permanent resident, you can try to become a United States citizen.
Right to Work
- You will not be restricted to working only in a single area of the country.
- All 50 states are open to you, providing you the freedom to work and live wherever you want.
- You can also choose to avoid state income tax by deciding to reside in states like Florida or Texas.
- Green card holders can work without the need of an H-1B work visa.
Right to Travel
- Though some travel restrictions apply, EB-5 investors may travel internationally without worrying about being denied reentry.
- Visit any state in the country – including Hawaii and Alaska.
- Enjoy the peace of mind that comes with the ability to immediately enter the U.S. if significant events in your country ever necessitate your leaving.
Right to Education
- Enjoy the same free access to K-12 education provided to U.S. citizens, as well as reduced in-state fees for public universities and colleges.
- Improve your chances of being accepted to a U.S. university by up to 350%.
- Qualify for financial aid and scholarships.
- Gain the ability to participate in internships, work while going to school, and obtain postgraduate positions.
What It Takes to Make a Successful EB-5 Investment
Here are the primary requirements:
- Provide the minimum investment amount. Depending on whether or not you are making an investment in a targeted employment area (TEA) or not, that minimum can be $1,800,000 or $900,000. The lower amount is for TEAs, which are typically in high-unemployment rural areas. At EB5AN, our investment projects all qualify for the lower investment amount of $900,000 because they are located in TEAs.
- Offer jobs. Your project must be able to either preserve or newly create 10 or more jobs in full-time positions for workers in the U.S. Additionally, these jobs have to last for at least two years.
- Save something or create something. EB-5 investments can’t be in companies that are already doing well. Investors must either fund a struggling business to help it or invest in a completely new commercial enterprise.
- Take a chance. Your investment must remain at-risk for the duration of the application process.
- Use legitimate funds. All money used in your investment must be sourced legally.
Determining Whether an EB-5 Project Is a Worthy Investment
Just as with any investment, you should engage in due diligence on any Ohio EB-5 project before investing any money. These types of projects are particularly important because they can impact both your financial and immigration situation.
You already know that your investment capital must be at risk while you are applying. Lawmakers designed the program this way to prevent well-funded individuals from merely “buying” permanent residency in the U.S.
However, maintaining “at-risk” status is not the same as choosing a project that is “risky.” This is why we so fervently suggest that all EB-5 investors conduct thorough due diligence ahead of time. This way, they can reduce their potential risk as much as possible while still meeting the requirement.
How do you perform due diligence on a project? We believe that the EB-5 Project Risk Assessment Tool is a great place to start. EB5AN developed this tool along with Klasko Immigration Law Partners to guide potential investors through initial due diligence steps and determine the risk associated with specific projects.
Ohio Facts and Stats Investors Should Know
Ohio: Population and Income Demographics
9.3 million people older than 16 call Ohio home according to numbers from the U.S. Census. Of that 9.3 million, 5.9 million are part of the job force, with 5.4 million of that number employed and 0.5 million without jobs.
Understanding Ohio’s Current Economy and What the Future May Hold
With 282.3 people per square mile, Ohio is one of United States’ more densely populated states.
In Ohio, Columbus is both the capital city and the largest city, though the biggest metro area is the Cincinnati metro area. Ohio had a gross domestic product (GDP) of $552 billion in 2010, with a compound annual growth rate of 4.51% from 2000 to 2010. GDP per capita stood at $47,567. Compared to the rest of the U.S., Ohio’s economy is the seventh-largest in the country.
The 47 metro areas across Ohio, drive most the state’s economy. As of 2004, they accounted for a whopping 95.7% of the total domestic product. Throughout the 20th century, Ohio’s economy was largely dependent upon construction, education, finance, healthcare, hospitality, insurance, manufacturing, professional services, and retail.
For 2018, Ohio had an average unemployment rate of about 5.0%.
How You Can Learn about EB-5 Investments Open to Ohioans
Foreign nationals living in Ohio have countless EB-5 investment opportunities available to them, and you can learn about many of them at the EB5AN EB-5 regional center.
Whether you live in a large metro area or a rural part of the state, the EB5 Affiliate Network team is ready to help you on your investment journey. To discover more about EB-5 investments that are available right now, Click here to schedule a call.