Do you and your family want to immigrate to New York or elsewhere in the United States? Or perhaps you’re an immigrant already living in New York, and you want to gain permanent U.S. residency? One of the best ways to achieve this is through the EB-5 Immigrant Investor Program, which enables you to obtain a U.S. Green Card by investing in the country’s economy.
Although you can invest anywhere in the United States, there are certain benefits to investing in New York. If you live in New York or plan on moving there, you might also wish to invest in a project located close to home.
Just like in other parts of the United States, the easiest way to make an EB-5 investment in New York is through a regional center. This article explains everything you need to know about this process.
What Is the EB-5 Program?
Primary EB-5 Investment Requirements
What Is a Regional Center?
- Indirect Job Creation Counts Toward Your Total Job Creation
- Faster Form I-526E Approval for Rural TEA Projects
- Passive Management
Why Invest in a Regional Center?
EB5AN’s Northeast Regional Center
EB-5 Investors Based in New York
How to Evaluate EB-5 Investment Projects
Reasons to Immigrate to New York
- Tourist Attractions
- Global Financial Hub
- Education and Research Institutions
- Quality of Life
- Tax Incentives and Economic Programs
New York: Population and Income Demographics
EB-5 Investment: Your Gateway to Permanent Residency in the U.S., Including New York
What Is the EB-5 Program?
The EB-5 Immigrant Investor Program is a program that allows foreign investors to gain permanent residency in the U.S. by investing in a new commercial enterprise (NCE). If, after two years, you are able to prove that your investment has generated and maintained 10 full-time jobs for U.S. workers, you can apply for an unconditional Green Card.
Read our article on the steps you need to take to obtain an EB-5 visa to learn more about the application procedure.
Primary EB-5 Investment Requirements
Investments made under the EB-5 program are required to meet certain criteria. These include:
- ✔️ Investing a minimum of $1,050,000 in a project or business venture, or a minimum of $800,000 in an infrastructure project, or in a project or business venture located in a targeted employment area (TEA). All of EB5AN’s projects are located in TEAs and therefore qualify for the lower investment amount.
- ✔️ Creating at least 10 full-time jobs for qualifying U.S. workers and sustaining these jobs for a minimum of two years. Those who invest through a regional center can count indirect and induced jobs towards job creation. We discuss this in greater detail later in this article.
- ✔️ Investing in a new commercial enterprise.
- ✔️ Maintaining the at-risk status of the investment and using lawfully sourced investment funds.
| 💡 What Is a Targeted Employment Area? |
A TEA is a part of the United States that is either a rural TEA or a high-unemployment TEA:
There are several benefits to investing in EB-5 projects located in a TEA, including:
EB5AN offers several projects located in rural TEAs. |
What Is a Regional Center?
EB-5 regional centers streamline the EB-5 investment process for potential EB-5 applicants. Investing through a regional center has several benefits:
Indirect Job Creation Counts Toward Your Total Job Creation
Investments that aren’t made through a regional center can only count full-time jobs created by their project—direct jobs—toward the required total of 10. If you invest through a regional center, however, full-time jobs generated because of your project—indirect jobs—also count.
Faster Form I-526E Approval for Rural TEA Projects
Once you have invested, you can apply to the EB-5 program by completing Form I-526E. This form requires you to provide details of the project you are investing in. A rural TEA project qualifies for priority processing, meaning your application will likely be processed faster.
Passive Management
Project managers acting for or on behalf of the NCE or the job-creating entity that owns and develops the project handle most of the business and fund management on behalf of investors. This is great if you want to avoid the hassle of managing a business yourself.
Why Invest in a Regional Center?
Potential EB-5 investors may select EB-5 investments located anywhere in the United States. However, opting for an EB-5 investment in New York offers several advantages:
Residency benefits are granted to all direct and indirect (via a regional center) EB-5 investors, irrespective of where in the United States the project is located; however, certain advantages apply to investing and living in New York.
- The EB-5 program is one of the fastest ways to gain U.S. permanent residency for the EB-5 investor, their 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 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.
- The EB-5 program does not require a visa sponsor (like a family member) or an employer sponsor.
- Green Card holders do not need an H-1B work visa to work.
- Eligible homeowners in New York enjoy the School Tax Relief program, a tax reduction initiative that provides property relief for New York residents.
| 💡 What is an H-1B Visa? |
| An H-1B visa is a work visa that allows foreign workers to come to the U.S. for a limited period to work in a specialist field. An employer must sponsor an H-1B visa; it is not an immigration visa. |
Travel Benefits
- Green Card holders can leave and enter the country without being denied reentry. However, some travel restrictions apply.
- A bona fide resident and Green Card holder is free to travel to any part of 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 admission to U.S. universities by as much as 350%.
- Green Card holders may qualify for financial aid and scholarships.
- Permanent residents can work while studying, complete internships, and apply for postgraduate positions.
EB5AN’s Northeast Regional Center
Although EB-5 investors can make their EB-5 investment in projects located anywhere in the United States, those in New York may find it easier to invest in projects located within New York. Thankfully, EB5AN already has a USCIS-approved regional center in New York.
The EB5AN Northeast Regional Center contains all counties within New York, including the state’s largest city and economic hub, New York City.
EB-5 Investors Based in New York
EB5AN has EB-5 investment projects available to people already living in the United States, including New York. The EB-5 program is the best way to obtain U.S. permanent residency by investment.
If you are a foreign national considering an EB-5 investment, EB5AN can help you. Schedule a call to learn more about currently available EB-5 investment opportunities and join other bona fide residents who have immigrated through the EB-5 program.
How to Evaluate EB-5 Investment Projects
EB-5 investors should evaluate financial and immigration risks when selecting an EB-5 investment project.
EB-5 visa investment capital must be at risk for the duration of the investment. This regulation ensures that investors invest their capital and are not simply “buying” a U.S. Green Card.
This “at-risk” requirement does not mean that EB-5 investors are obligated to invest in “risky” projects, but rather that there must be a chance of loss. Instead, EB-5 investors are recommended to conduct due diligence to minimize their exposure to financial and immigration risk.
Reasons to Immigrate to New York
There are many reasons to choose to live in New York and invest there.
Tourist Attractions
New York has the following main cities: New York City, Buffalo, Yonkers, and Albany. It is home to renowned institutions like the Metropolitan Museum of Art, Broadway, and Lincoln Center. The state also offers numerous attractions, ranging from the Statue of Liberty to Central Park and the iconic Empire State Building. There’s also Times Square, which is a must-visit especially during festive seasons.
Living in New York exposes residents to a variety of cultures, languages, and traditions, fostering an environment of inclusivity and cultural exchange.
Global Financial Hub
New York City is the financial capital of the world, home to the Wall Street, the New York Stock Exchange, and major financial institutions. This makes it an ideal location for investors looking to engage in global business and finance. EB-5 investors can find plenty of opportunities in the real estate, banking, and venture capital sectors.
New York also offers a wide range of employment opportunities across various sectors beyond finance, such as technology, media, healthcare, and education. This diversity ensures stability and growth, attracting professionals from around the world and making it an appealing destination for investors.
Education and Research Institutions
New York is home to some of the world’s most prestigious educational and research institutions, including Columbia University, New York University, and Cornell University. These institutions attract global talent and contribute to a well-educated workforce, making it an ideal location for EB-5 investors to build an academic future for their children.
Quality of Life
New York offers a high quality of life with access to world-class healthcare facilities, vibrant cultural activities, and numerous parks and recreational areas. The state’s diverse neighborhoods cater to various lifestyles, whether investors prefer the bustling energy of city life or the tranquility of suburban areas.
Tax Incentives and Economic Programs
New York provides various tax incentives and economic development programs aimed at attracting businesses and investors. Programs like the Excelsior Jobs Program and Start-Up NY offer benefits such as tax credits and zero taxes for businesses in designated areas.
New York: Population and Income Demographics
According to the U.S. Census Bureau, New York has a population of approximately 16.1 million people over the age of 16. Approximately 10.1 million of them are in the labor force—of these, 9.6 million are employed, and about 517,000 are unemployed. The total population of the state is around 19.7 million as of the 2022 census.
New York: General Economic Facts
- New York extends across 54,540.3 square miles (land and water), with a population density of approximately 429 people per square mile of land.
- The capital of New York is Albany. New York’s 2022 gross domestic product (GDP) was over $2 trillion.
- The financial services sector, centered in New York City’s Wall Street, is a dominant force, contributing 29.2% to the state’s GDP in 2022, according to Investopedia.
- The healthcare sector has also become a fast-growing industry, contributing about $165 billion to the state’s GDP in 2022.
EB-5 Investment: Your Gateway to Permanent Residency in the U.S., including New York
With its bustling cities, robust economic landscape, and cultural activities, the state of New York is a great place to live. Investing in the U.S. economy under the EB-5 program is an easy way for foreign nationals to gain permanent U.S. residency status.
Best of all, if you gain citizenship under the EB-5 program, you will be able to live, work and travel anywhere in the United States. Book a free consultation today to find out how EB5AN can help you achieve this.
