Those living in Alabama who are interested in participating in the EB-5 visa program should carefully consider the benefits of investing in an EB5AN EB-5 visa project.
Green Card Benefits for Alabama EB-5 Investors
Prominent benefits of making an EB-5 investment in Alabama include:
- Green card holders can access public elementary, middle, and high schools free of charge and pay lower cost tuition at public universities and colleges.
- U.S. residency increases the chance of U.S. university admission.
- Green card holders can receive financial aid and scholarships in addition to in-state tuition.</li.
- Permanent residents can also work during their studies and apply for internships and postgraduate positions.
- Those with permanent residency can leave and enter the country without fear of being denied re-entry, although some travel restrictions still apply.
- Green card holders can also travel within the United States without restriction.
- If there is a significant event or political change in the investor’s home country, the investor’s family can immediately gain entry to the U.S.
- Green card holders can live and work anywhere in the U.S. without restriction, from quiet to vibrant cities, and in states without a state income tax.
- The EB-5 program does not require an H-1B work visa or employer sponsor to work
Residency and Citizenship Benefits
- Retired green card holders can also access their pensions in the United States. They may also qualify for Medicare and other social welfare programs.
- After five years of established permanent residency in the United States, green card holders can also apply for U.S. citizenship.
- EB-5 is a fast way to gain permanent residency in the United States. The EB-5 investor, a spouse, and their unmarried children under 21 years can all attain this status.
Primary EB-5 Investment Requirements
The primary EB-5 investment requirements are as follows:
- Investing in a troubled business or a new commercial enterprise.
- Investing at least $900,000 for EB-5 investments that are made in rural or high unemployment areas considered targeted employment areas (TEAs). Projects outside of these areas require a minimum investment of $1,800,000. However, all EB5AN’s EB-5 investment projects qualify for the lower investment threshold of $900,000 as they are located in TEAs.
- Keeping the investment at-risk and using investment funds that are lawfully sourced.
- Creating or maintaining 10 full-time jobs for qualified U.S. workers that last two years.
EB5AN’s State of Alabama Regional Center
Although EB-5 investors can make their EB-5 investment in projects located anywhere in the United States, those in Alabama may find it easier to invest in projects located within Alabama. Thankfully, EB5AN already has a USCIS-approved regional center in Alabama.
The EB5AN State of Alabama Regional Center contains all counties within Alabama, including the state’s largest cities, ranging from the historic Mobile to the global economic hub of Birmingham.
More Information about Alabama
What do Alabama’s Population and Income Demographics Look like?
According to the U.S. Census, Alabama has a population of approximately 3.9 million people over the age of 16. Of this, approximately 2.2 million people are in the labor force, with 2.0 million employed and 0.2 million unemployed.
Alabama: General Economic Outlook
Alabama covers an area of 52,419 square miles, with an approximate width of 190
miles and a length of 330 miles. This implies a population density of 94.4 people per square mile, which makes Alabama the 27th-most densely populated state in the United States.
Alabama’s capital, largest city, and largest metro area is Birmingham. The state’s gross domestic product (GDP) in 2010 was $171 billion which implies a compound annual growth rate from 2000 to 2010 of 4.51%. Alabama’s GDP also makes it the 27th-largest economy in the U.S.
Manufacturing, retail, education, health care, hospitality, and construction have contributed to Alabama’s recent economic development. Its 12 metropolitan areas made up 95.7% of the state’s domestic product in 2004.
Why Do Most EB-5 Investors Use Regional Centers?
EB-5 regional centers make it easier to demonstrate required job creation and simplify the EB-5 investment process. Regarding the job creation requirements specifically, only regional centers are allowed to use the indirect method of calculating jobs. This rule makes it significantly easier for EB-5 investors to satisfy the job creation requirement when investing through a regional center instead of in a project directly.
EB5AN’s multiple USCIS-approved regional centers enable it to sponsor lucrative EB-5 projects across the United States, including in Alabama.
Evaluating Between EB-5 Investment Projects
EB-5 investors in Alabama should consider both financial and immigration risks when deciding between EB-5 investment projects.
One of the more significant requirements for a successful EB-5 visa investment is that the investment capital is kept at risk for the investment’s duration. This requirement makes sure that investors actually make an investment and do not simply “buy” a green card.
The label “at risk” can be a misnomer as EB-5 investors are not required to invest in projects that are risky. EB-5 investors are strongly encouraged to conduct thorough due diligence in order to minimize possible financial and immigration risks.
Working with Klasko Immigration Law Partners, EB5AN has created an EB-5 Project Risk Assessment Tool. This tool guides investors through the initial diligence of EB-5 projects and presents both financial and immigration risk perspectives.
EB-5 Investors from Alabama
EB5AN has a few EB-5 investment projects available to Alabama residents. EB-5 investors from Alabama can ask about EB-5 investment projects that are open to investment and sponsored by an EB5AN EB-5 regional center.
EB-5 investors wanting to make an EB5 investment in any of the following cities and the surrounding areas in Alabama are encouraged to consult with EB5AN with any questions: