Why is the EB-5 Visa Beneficial for Vietnamese?
The EB-5 visa is a great way for eligible immigrant investors to become lawful permanent residents of US. It basically revolves around enhancing the economic growth through the process of foreign investments. To obtain EB-5 visa to the US, the eligible applicant has to make a minimum qualifying investment of $500,000 in a qualifying enterprise. This investment needs to create at least 10 new indirect or direct jobs over a period of two years. You do not need any job offer or specific educational qualification to apply for this visa.
The EB-5 visa is slowly growing to become immensely popular in today’s times. It is formally known as the Employment-Based Fifth Preference Category or EB-5 Immigrant Investor Visa Program. Although it is majorly used by China applicants (86% of the visas were issued in 2015 to Chinese applicants), Vietnam became the second biggest nationality and source of investor applicants. In fact, based on reports, it is found that from October to December 2017, the EB-5 visa usage for Vietnamese applicants jumped 190% year over year. It is only expected to grow as the years go by.
EB-5 Visa Benefits for the Vietnamese
There are many reasons why the popularity of EB-5 Visa is growing among the Vietnamese people. These include the following.
- The Vietnamese stand a chance to obtain permanent residency in the US in a faster and more seamless manner.
- An EB-5 visa permits Vietnamese residents to live anywhere in the US without any restrictions. It also comes with educational benefits.
- There are about 15,000 Vietnamese students that head to the US to study every year. These students continue to grow and grab new opportunities. This serves as a motivation for the growing need for EB-5 visas.
- The Vietnamese immigrants will no longer face the travel restrictions they are generally subjected to with a Vietnamese passport.
- It is an unwavering source of new US residents even though the country’s immigration policy constantly shuttles back and forth.
- There are around two million Vietnamese that reside in the US. These individuals have strong bonds with their family and loved ones in Vietnam. This makes an application for an EB-5 visa attractive.
These are a few of the reasons why the EB-5 visa proves to be extremely advantageous for the Vietnamese. Vietnamese entrepreneurs and their families looking to apply for this green card need to make sure they qualify for the same and can make the required investment in a commercial enterprise in a successful manner.