Alleviating little uncertainty, the EB-5 program was once again extended through December of 2017. Though it was one of the first pieces of legislation to be signed by the new administration, the program has been under close scrutiny for quite some time; being dubbed a golden ticket for wealthy foreigners to become permanent U.S. residents quickly and safely. In the event it does not get a further extension, foreign investors can still look to other citizenship by investment countries…
Citizenship By Investment Countries: What Are The Options Should The EB-5 Program End?
With the potential of the EB-5 program’s termination still alive, many are considering the changes to come if the program should officially end—none more so than the immigrants looking to apply.
That being said, the United States isn’t the only country to employ programs to entice foreign investors with the aim of boosting the overall economy.
Many countries around the world offer similar programs as the US EB-5 visa, including:
The aforementioned offer differing pros and cons; however, what may appeal to some investors is that fact that each program is more affordable and stable .
Citizenship By Investment Countries: What Do The Different Programs Offer?
Although the United States is known for being one of the top destinations for aspiring investors and their families, looking in to the other citizenship by investment countries’ programs that are available would only be natural – especially if there is a chance of the EB-5 being discontinued.
So what are the basic requirements to be eligible for these programs?
6 Alternate Citizenship By Investment Countries and What’s Required
Malaysia is one of the wealthier nations of Southeast Asia, boasting good food, amazing wildlife, and high economic investment in areas such as technology. Known as the Malaysia My Second Home program (or MM2H), this investor visa is relatively simple in its application requirements:
- Demonstrated assets in range of roughly $83,000 to $118,000
- Those under 50 years of age must have assets of around $118,000 and a demonstrated income of $2,000+ per month
- Those over 50 years of age must have assets of roughly $83,000 and a demonstrated monthly income of $2,000+
Upon approval, investors are required to make a fixed deposit (unless specifically excused) of roughly $71,000 (with a minimum balance of around $35,000 from the second year on) if under the age of 50, and roughly $35,000 for those 50 years or older (with a minimum balance of around $24,000).
Also known as the “Garden City”, it is one of the cleanest and most efficient cities in Asia. Although there are stricter requirements, the visa offered is quite appealing due to the city’s benefits. The investment requirements of the program, known as the Global Investor Program, include:
- A roughly $1.8 million investment
- Demonstrated success in entrepreneurial or investment initiatives
Investors will be granted “conditional permanent residence”, and can gain citizenship after 2 years.
If you’re looking for a country that combines European beauty and delicious seafood, don’t look too much farther than Portugal. Among other things, the country also boasts a rather flexible visa program – the Portuguese Golden Visa. Requirements of the program include:
- A minimum investment in one of the following areas (which must be held for at least 5 years):
- Roughly $580,000 in property, or $400,000 for properties older than 30 years or located in an “area of urban renovation”
- A capital investment greater than $1.1 million
- An investment greater than $400,000 for research activity
- An investment greater than $290,000 for artistic actives
- An investment greater than $580,000 into small and medium sized companies
- Demonstrated creation of at least 10 jobs
- Residence in Portugal of at least seven days the first year, and 14 days every two years following
One of the wealthiest countries in the world, Andorra is a popular destination thanks to its proximity to major destinations in Europe. Andorra’s banking industry is also known for being extremely strong. Andorra’s visa program requires:
- An investment of roughly $500,000 to receive a residency (not citizenship)
- No minimum investment to start a business
Investing in the land down under will land you on the path to citizenship in an area known for it’s natural wonders and a thriving economy. Australia’s investor visa program, known as the Significant Investor Stream, has the following requirements:
- You must be nominated by a state, territory government, or the Australian Trade and Investment Commission (Austrade).
- An investment of roughly $3.9 million over four years in the following manner:
- Roughly $390,000 in venture capital and growth private equity funds
- Around $1 million in approved managed funds that invest in emerging companies
- At least $2 million in managed funds investing in a variety of other assets
Investment directly into residential real estate is not permitted. A new pilot program was also developed in 2016, known as the Premium Investor Visa, in an effort to bring specialized talent to the continent for long-term benefit. To be eligible for this program, individuals need to be nominated by the Australian government.
If the EB-5 does terminate at the end of this year, it is likely that immigrants seeking a permanent residence through investment will look elsewhere. The potential consequences of this affect not only US business development, but also the legal and language professionals who provide services to this population. Language translators and interpreters specialized in this field will likely see a decrease in demand for EB-5 related work.
That being said, other immigration services will still need language support. Whether it’s aiding with the green card process, the EB-1A (extraordinary ability), or the EB-2 (national interest waiver), specialized professional translation services will continue to be in high demand as long as the United States continues to be a hotbed for perspective immigrants.
Although the new deadline doesn’t solidify the program status, many predict that it will be extended after December. In the meantime however, hopeful investors will surely be doing their homework, and looking into citizenship by investment countries with a similar programs should all else fail.
By Zachary Tanimoto, Marketing Intern at Language Connections
Sources for 6 Alternate Citizenship By Investment Countries:
About Language Connections:
Language Connections is one of the top language service companies in the US. Over the last 30 years, we’ve focused on providing the best business translation services, interpreting services, as well as interpreter training and customized language training programs. In addition to top-tier corporate language training, we offer certified corporate interpreters and professional business translation services in 200+ languages. Our network includes linguists with backgrounds in all major industries. They’re ready to meet your needs, whether they’re for technical translation services, legal translation, government translation services, international development translation services, education translation services, life sciences translation, or something else. Reach out to us today for a free quote on our cost-efficient and timely translation services, interpreters, or other linguistic services.
Language Connections Inc.
2001 Beacon Street, Suite 105,
Boston, MA 02135