Top 5 EB-5 Investor Countries (Not Named China)
The EB-5 program has helped foreign investors pour $3.7B into developments across major US cities—and helped developers raise big bucks for huge projects—with almost 90% of those coming from China over the last year. And sure, China's dominant in the stats, but who's making up the rest? Wth a little help from our friends at the US Citizenship and Immigration Services, we found out.
1. South Korea
% of total: 2.1%
No. of visas: 225
South Korean investors may trail very far behind Chinese investors, but this Asian country's still making an impact. For one medical company in development in Vermont, the $90M from South Korean investors could make all the difference. The goal behind the $500M makeover, which includes severeal other developments, is to revamp the City of Newport.
2. Mexico
% of total: 1.21%
No. of visas: 129
Members of the Mexican elite have been dipping their toes in US investment, earning easy residency status in the process. But with wealthy money going out, Mexican politicans have been arguing that the continuation of the program supports an exodus that could strike a blow to the Mexican economy.
3. Vietnam
% of total: 1.13%
No. of visas: 121
Vietnamese demand for the EB-5 program has been growing over the past five years. Chris Dao, director of US Investment Services, a Vietnamese EB-5 investment company, says because of mutual interest. EB-5 applicants like to bring their children to US schools—while also doing business—leading to an uptick in EB-5’s, a number that could jump even more in 2016.
4. Russia
% of total: 0.94%
No. of visas: 100
Just nine years ago, there were no Russian EB-5 participants. Now, the number's 100, and could hit a lot more in the coming years. Individual wealth in the country is growing, as well, with 1 million millionaire households expected in the country by 2020—a trend that could signal even more Russian wealth flowing into the US.
5. India
% of total: 0.9%
No. of visas: 96
In 2013, only 38 applications from India were filed. That number tripled last year, almost cracking 100. In addition to the rising number of EB-5's from India, the subcontinent's millionaire household number is also projected to reach more than 700,000 by 2020, meaning more investors can participate in the EB-5 program.
