New York EB-5 investors seeking an opportunity to invest in an EB-5 visa project can do so through the EB5 Affiliate Network (EB5AN) State of New York Regional Center.
Reasons Most EB-5 Investors Prefer to Work with Regional Centers
Eligible EB-5 investment participants can invest in one of two ways; they can either directly invest in a qualified project or partner with an EB-5 regional center anywhere in the U.S. While there are a certain set of advantages to investing directly, by and large, EB-5 investors opt for regional center projects. There are two reasons why:
Working with Regional Centers Streamlines the Investment Process
Reputable EB-5 regional center partners offer their investors access to an arsenal of knowledge, a wealth of hard-earned experience, and a proven track record of success. Because of this, EB-5 investors who invest through an EB-5 regional center invariably experience a smoother, more streamlined investment process.
Working with Regional Centers Makes it Easier to Satisfy the Program’s Job Creation Requirements
Unlike direct investors, regional centers can utilize indirect job calculation methods to fulfill the program’s job creation requirement. What does this mean for investors? Rather than spending time gathering and providing evidence that W-2 employees were hired and that those jobs spanned a minimum of two years, investors only need to demonstrate that their investment capital was spent according to the regional center’s business plan.
EB5AN maintains multiple USCIS-approved regional centers spanning a broad geographical area and can immediate sponsor strong EB-5 projects across the U.S. –including in New York. Find out more about the EB5AN State of New York Regional Center below.
EB5AN Has a Regional Center in New York State
If you are looking to make an EB-5 investment, you can do so anywhere in the US. However, many people prefer to make their investments closer to home, and if you currently live in New York, EB5AN makes this easier. How so? Through EB5AN’s USCIS approved regional center called the EB5 Affiliate Network State of New York Regional Center. This regional center serves every single county in New York state as well as a number of major cities.
Known as a center for arts, entertainment, finance, trade, and so much more, New York City also has the highest population of any US city. Buffalo, NY, while possibly most well-known for the American football team the Buffalo Bills, has a proud history and is currently experiencing a transformation and a revival. Head south from Lake Ontario, and you will find Rochester perched on the Erie Canal and the Genesee River.
EB-5 Investors in New York Qualify for a Number of Green Card Benefits
If you make a NY EB-5 investment, you qualify for numerous direct benefits, including:
Benefits Related to Citizenship and Residency
- EB-5 investors, their spouses, and children who are not married and under the age of 21 all qualify for permanent US residency.
- If you have a green card and you are retired, you will be able to receive any pensions you earned in the US as well as those earned internationally. Additionally, it might be possible for you to receive social assistance programs such as Medicare.
- Once you have lived as a permanent resident in the US for at least five years, you can apply to become a United States citizen.
Benefits Related to Employment
- There are no restrictions to where green card holders may work or live in the US.
- Want to live next to a beach in California, Florida, or Hawaii? Or in the Rockies in Colorado? The entire country is open to you.
- You can even reside in places like Texas where there isn’t a state income tax.
- You do not need to have an employer or visa sponsor.
- An H-1B work visa is not needed to work once you have a green card.
Benefits Related to Traveling
- While certain travel restrictions apply, those with a green card may travel internationally and will not be denied reentry.
- You can travel to anywhere in the US with your green card.
- If some kind of significant, troubling event occurs in your home country, you and your family have the ability to be admitted to the US immediately.
Benefits Related to Schooling and Education
- Anyone with a green card automatically qualifies for free public schooling in the US, as well as in-state tuition at public universities and colleges.
- Your admission to a university in the U.S. may be increased up to 350% if you have U.S. permanent residency.
- You also qualify for scholarships and financial aid.
- Postgraduate positions and internships are open to permanent residents, and it is also possible to work while studying.
Main Requirements for an EB-5 Investment
An investor must:
- Invest at least $900,000. This amount only applies to EB-5 investments made in targeted employment areas (TEAs). TEAs are defined as rural areas with a low population or places with high unemployment. Non-TEA projects demand the much higher investment of $1,800,000. Thankfully, every EB5AN investment project is located in a TEA, which means you only need to invest the lower amount of $900,000.
- Preserve or create 10 or more full-time jobs for U.S. workers that last for at least two years.
- Make their investment in either a business that is considered “troubled” or a new commercial enterprise altogether.
- Use only lawfully sourced funds for the investment
- Ensure that the funds remain “at-risk” for the duration of the investment
What Can You Do to Evaluate EB-5 Projects You May Wish to Invest In?
New York-based immigrants interested in making an EB-5 investment should always consider two factors before selecting a specific project. One, what is the financial risk? Two, what is the immigration risk?
Remember, your investment capital must be at risk throughout the investment in order to qualify for an EB-5 visa. This rule was put in place to prevent people from “buying” a green card outright. Keep in mind that “at risk” is not the same as “risky.” EB-5 investors should always research projects thoroughly to minimize risk as much as possible.
To this end, EB5AN has worked with Klasko Immigration Law Partners to create an EB-5 Project Risk Assessment Tool. Designed to help assess both immigration and financial risk for EB-5 projects, the tool is both easy to use and incredibly functional.
New York: Additional Details
New York: Population and Income Demographics
As of the latest U.S. Census, there are roughly 15.7 million people in New York aged 16 or older. Approximately 10 million of those 15.7 million are considered part of the labor force. Nine million of those people have jobs, while 921,000 are unemployed.
Understanding the Overall Economic Outlook of New York
New York State has a population density of around 417 people per square mile. That means it has the seventh-highest population density in the U.S.
While Albany is the state capital, New York City is the biggest metro area in the state. In 2010, the State of New York had a gross domestic product of $1,160 billion, with a compound annual growth rate of 4.17% from 2000 to 2010. Additionally the per capita GDP of the state is $53,377. By GDP, New York State has the third biggest economy in the country. Since New York City is home to the two biggest stock exchanges in the world, this shouldn’t come as a surprise.
However, there are major financial powers outside of NYC as well. Hubs for integrated microchip circuit manufacturing and nanotechnology exist in Albany, the Hudson Valley, and Saratoga County. Rochester and the surrounding area are well-known for photographic processing and imaging.
New York State also ranks in the top five states for a wide variety of agricultural staples, including apples, cabbage, cherries, dairy, maple syrup, onions, and potatoes – in fact, they are the nation’s biggest cabbage producer. All told, New York agricultural products totaled $3.4 billion in 2001.
In 2015, the average unemployment across the state stood at 5.3%. Monthly unemployment rates for October, November, and December of that year were 4.5%, 4.7%, and 4.7%, respectively.
NY-Based EB-5 Investors
If you live in New York State in one of the following cities, get in touch with EB5AN to learn which EB-5 investment projects are currently open to investment and sponsored by our NY regional center:
- New York City
- Queens Village
- Richmond Hill
- New Hyde Park
- Jackson Heights
- Glen Oaks