Boost foreign currency remittances via U.
S. EB-5 Visa Policy
Participants of the information series on the EB-5 investment project in Abuja Improving currency transfers via U.
S. EB-5 Visa Policy
An analysis of the news by Ikenna Uwadileke, news agency of Nigeria
On October 20, the Abuja Chamber of Commerce and Industry (ACCI) in collaboration with Invest in USA (IIUnited States) held an interactive session on the EB-5 Investment Project for Nigerians wishing to migrate to the country for investment.
The event themed “The Pathway to Permanent Residency in the USA for You and Your Family) provided a platform to enlighten Nigerians on the importance for investors to get the right information on EB opportunities -5.
The EB-5 program is a U.
Government authorized S visa category created by Congress in 1990.
Its main objective is to inspire foreign investment in job-creating businesses in exchange for a U.
S. Green card.
The event also provided the U.
S. delegates the opportunity to woo Nigerians further on the need to invest in the United States.
S. economy and repatriate their money to Nigeria.
The interaction was tremendous and provided Nigerians with an opportunity to reflect on the benefits of having the right information to invest in the United States using the EB-5 window.
Panelists at the event revealed that 80% of investors on the continent China, South Korea, Taiwan and the U.
K. applied for the EB-5 program.
They told the audience that a large number of candidates also came from Vietnam, India, Brazil, Mexico.
M fife banks The project leader, , urged the Nigerian government to take inspiration from other developed countries in creating an attractive framework to guide the country’s visa policy.
According to Banks, an investment in an EB-5 project is not just a financial investment but also an investment in a better future, security, freedom and opportunity for families and loved ones.
He said one of the main benefits of the EB5 program is the ability to access the U.
S. education system for its children and wards.
“Green cards give EB-5 investors the ability to enroll their children in U.
S. public schools from elementary to high school free of charge.
“Kids who have experience at U.
S. classes will already be familiar with U.
“These kids won’t have to go through as intense an adjustment period as international students often do upon entering U.
Banks also said adult children could benefit from the EB5 green card program and encouraged parents to fund projects in those neighborhoods to make them eligible for the EB-5 green card.
“It’s a good option for parents who don’t want to immigrate to the United States.
S themselves but have children who are married or over the age of 21.
“There are also health benefits.
It gives access to the U.
S. health system.
S is home to some of the best hospitals in the world, the best medical schools and the best medical research centers,” Banks said.
For her part, the general manager of ACCI, Ms. Victoria Akaisaid the Nigerian economy could benefit immensely from this policy.
According to her, the Nigerian business community can repatriate up to two billion dollars into the economy if they take advantage of it.
“The more investors Nigeria has in the United States.
S. the more opportunities we have to contribute to shaping policies that affect Nigeria and Africans in the United States.
“According to World Bank statistics, in 2019, Nigeria had total exports of $53.6 billion and total imports of $47 billion, resulting in a positive trade balance of about two billion dollars.
“Nigerians are welcome to come and invest in the United States.
S. like other countries come to invest in Nigeria, earn money, employ their citizens.
“Whatever profits we make in the United States.
S., we are also authorized to repatriate him to Nigeria.
“Ultimately, in a year, we should be able to repatriate up to one or two billion dollars to Nigeria,” she said.
According to Akai, many Nigerians looking for legit investments in the United States.
S., are not in contact with the right people or do not get the right information to enable them to manage risks effectively and ensure the success of their investments.
“As experts in the field of international trade and investment, we recognize the benefit of being true global citizens in the sense of global mobility.
“Investment opportunities, which also provide citizenship opportunities, can help expand people’s economic impact and help them build across borders, as well as trade and live without small limitations.
“The process of investing in the U.
S. had the potential to significantly increase remittances to Nigeria.
“Nigerian investors can benefit from various continental and commercial agreements existing in the United States.
S. like the North American Free Trade Agreement (NAFTA)” Akai said.
M Aaron Grauexecutive director, IIUSA, said Nigerians could get a permanent U.
S. residence for their families to a minimum of $800,000 in EB-5 investment.
Grau expressed hope for a cordial and lasting relationship between Nigerians and Americans to ensure that investors get a good return on their money.
“Opportunities for citizens to sponsor other family members for green cards are all built in.
M McKenzie PentonDirector Event and Business Development, IIUSA, said the EB-5 project required a strict and steady flow of funds.
“One of the most important aspects of the program is to demonstrate where the money you invest comes from.
“Whether it’s your income, your assets or even your friends and family, you will have to prove and show documents for all sources of money in the investment and fees,” he said. -he declares.
** If used, please credit the author and Nigeria News Agency.