South Africa
The EB-5 Visa for South African investors is an immigrant visa issued by United States authorities to provide permanent residence or green card in the US. According to the Congressional Research Service, South African investors are ranked in the 10th position among the top nations to get the most EB-5 Visas in 2019. Obtaining an EB-5 Visa permits South African investors and their dependents to live, work, and study anywhere in the US for the period of visa validity. This visa is granted to a South African resident for a conditional duration of two years. An investor needs to stay in the United States for at least one year.
Benefits of EB-5 Visa for South African Residents
- Investors and their families (dependents) can reside lawfully in the US.
- Investors and their dependents can travel to the USA anytime.
- This visa provides opportunities for US citizenship. After conditional US residence of 2 years, South African investors get eligible for a green card or permanent residence. After approximately, investors can apply for United States citizenship.
- Enjoy excellent international mobility via visa-free travel privileges, which are provided to green cardholders in the US.
- Unmarried children of South African investors can study in the world's some of best institutions without dealing with restrictions applied to foreign students. They can study as a day scholar without long separation from family. Compared to foreign students, students of South African investors pay 150-300% lower tuition fees and enjoy more scholarship/funding options.
- EB-5 visa South African holders can open their bank accounts in multiple currencies like euros and dollars and use the account for foreign transactions or earn interest on savings.
- The investors can get health insurance and medical treatment in US healthcare facilities.
EB-5 Visa Requirements for South African Citizens
South African investors need to meet certain requirements to obtain an EB-5 visa :
- A South African investor must be over 18 years old and have no criminal record. He or she must have a legal income source and its evidence. The investor should not be under US sanctions.
- $800,000 (R14,091,768 South African Rand) minimum investment for a TEA (Targeted Employment Area)
- $1,050,000 (R18,495,445.50 South African Rand) minimum investment for a non-TEA.
- South African investors can use loans from an individual/financial institution, wages/salaries, gifts from an individual, business profits, or inheritance for investment.
- The investment must result in the creation of 10 full-time jobs for American employees.
Income Requirements for South African Investors
A South African investor has to follow certain financial criteria for an EB-5 visa –
- $1,050,000 or R18,495,445.50 South African Rand net worth for a person or a married couple.
- At least $200,000 or R3,522,942 South African Rand in individual income in each year of the two previous years.
- At least $300,000 (R5,284,413 South African Rand) in joint earning in each of the last 2 years.
- Comparable extent of future income and assets.
EB-5 Visa South Africa Documentation Required
Alongside the above-mentioned source of funds requirement, there are some financial criteria for EB-5 visa for South African citizens:
- Birth certificates
- Single status proof or marriage certificate
- Evidence of other income
- Proof of legitimacy of investment sources
- Bank statements and tax returns for the last 7 years
- Passport copies
- Investment proof, any court decisions against an investor within the past 15 years
EB-5 Visa Process for South African Residents
The Immigrant Petition by Standalone Investor (Form I-526) can take 29.5 to 61 months, under one year if the investment is made in a rural project. The Petition is submitted to the USCIS to start the application process. An EB-5 visa application consists of the following steps :
- Select and hire an immigration attorney.
- Work with us to choose an EB-5 project that fulfils EB-5 program needs.
- Capital investment and filing Form I-526.
- Apply for application of adjustment of status or register permanent residence and DS 260 form.
- Conditional green card of two years.
- Permanent residency & Petition to eliminate conditions on Permanent Resident Status.
EB-5 Visa Costs for South African Citizens
Applying and acquiring an EB-5 Visa for South African investors will include attorney’s fees, the administrative fee set by each project and the following costs:
- $3,675 or R64,734.06 South African Rand for filing Form I-526.
- $1,140 or R20,080.77 South African Rand for filing Form I-485 or application to Adjust Status or Register Permanent Residence.
- $3,750 or R66,055.16 South African Rand for filing Form I-829.
- The USCIS facilitates 10,000 EB-5 visas yearly.
EB-5 Visa Can Lead to a Green Card!
The EB-5 Visa is the faster, more direct, and more efficient immigration method for South African investors to obtain permanent residence (green card) in the US than other employment-based visas. The green card grants an indefinite stay for South African investors and their spouses and children (under 21 years of age) in the US. We at EB-5 Investor Portal can assist you to navigate the US Immigrant Investor Visa Program.