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Increasing Chinese Demand May Create Scarcity of Foreign Investor Visas in the United States.

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By Indranil Bhattacharjee
September 03, 2014

 

 

Out of almost 10,000 investor visas issued per year under the EB-5 visa program, Chinese investors account for 85%. As a result of this, America may soon run out of visas for foreign investors.   

 

New York City, September 10 , 2014

 

There has been a rapidly increasing demand amongst China’s wealthy population to apply for foreign investor visa for the United States. This has resulted in a situation where U.S may soon run out of the specific type of visa that is awarded to the overseas investors. In the twenty four year long history of the EB-5 visa program, America has never faced this crisis.

 

Under the EB-5 visa program, ten thousand visas are issued each year by the State Department to overseas investors interested in investing at least $500,000 into different development projects in the United States. The real estate developers in New York City have already benefited a great deal from the EB-5 visa program. Funds invested by foreign investors have been utilized in several high profile projects such as the Barclays Center, International Gem Tower from Extell Development, 30 Park Place from Silverstein Properties, etc.   

 

Over the years, the largest investors from China have availed the EB-5 program to play a part in different projects in New York City. According to data revealed by the State Department, 85 percent of visas issued under the EB-5 program have been claimed this year by Chinese individuals.  It has also been reported that in order to arrange additional EB-5 visas for the Chinese investors, the State would require no less than a year.