09 September 2019 - 09:46Wolfsdorf is visiting SA from September 16 to 25 2019 to meet prospective EB-5 investors who want to apply before the November deadline. Picture: SUPPLIED/SHUTTERSTOCK/WOLFSDORFto invest more cash to get on the fast track to a US green card, while taking a greater risk in US development projects that will no longer be located in Tier 1 locations.
As most EB-5 projects will no longer qualify under new rules for targeted employment area qualification, the minimum investment amount will skyrocket to $1.8m – a 350% price increase. This increase may effectively eliminate most South Africans with funds in the country from eligibility due to the declining value of the rand and the inability to quickly transfer funds out of the country.
To use the investment allowance, applications for the requested amount must be made to the South African Revenue Service for a foreign tax clearance certificate . This process can take about one month, so if it is not started immediately, it is likely to be too late to invest and file the EB-5 application on or before November 20 2019.
EB-5 regional centres offer a variety of investment opportunities to prospective immigrant investors, including residential developments, hotels, manufacturing and medical facilities, and shopping complexes, among others. It can be overwhelming to review the detailed offering documents for such investments, so working with a due-diligence specialist with proper credentials is critical to ensure EB-5 success.
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