/Australia employs EB-5 visa equivalent, dubbed ‘the golden visa’

Australia employs EB-5 visa equivalent, dubbed ‘the golden visa’

Most Los Angeles residents may not be aware of the EB-5 visa, a specialized program that grants qualified immigrants an expedited route to permanent residence in the U.S.

An EB-5 visa applicant must invest $500,000 in a U.S. enterprise which creates jobs. There are other stipulations to the program (there is a cap of 10,000 EB-5 visas every year, and certain aspects of the enterprise — such as location and employment rate — affect the approval of the visa) than simply investing in a U.S. company.

Given that, it is best to consult qualified professionals to advise you on this special visa. The process amounts to much more than writing a large check and then getting a document that grants you residency.

The EB-5 visa has its critics, many of whom say that the visa allows someone to purchase residency in the U.S. — and these critics can now be heard in Australia too, as the Land Down Under has created “the golden visa.”

This visa allows an immigrant to gain Australian residency by investing $5.2 million into the country (may it be through bonds, a business or some other Australian asset). For that fee, the individual does not have to pass any tests or prove their skills. They are fast-tracked to Australian residency.

While on the surface it may seem like visas such as the EB-5 (or its Australian equivalent) are in poor taste, remember that it can bring exemplary individuals into the country and also bolster the economy by providing businesses with vital investment, which in turn can create jobs. It is a win-win situation for the country and the immigrant.

Source: Los Angeles Times, “Want an Australian visa? Try investing $5.2 million,” Nov. 24, 2012

  • Visa applications are usually complex, but the proper completion of these documents can result in a terrific outcome for you and your family. Our Los Angeles immigration firm handles cases involving the EB-5 investor visa.
By |2018-03-30T16:36:52+00:00November 26th, 2012|Categories: Employment-Based Immigration, Immigration News, U.S. Immigration Law|Tags: , , , |Comments Off on Australia employs EB-5 visa equivalent, dubbed ‘the golden visa’

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