Canada and the United States each have their own immigrant-investor programs as a way for prospective immigrants to live and work in the respective countries, but the United States’ version is lesser known.
According to this article from Yahoo News, huge, lengthy backlogs have resulted in serious delays for immigrants looking to invest in Canada, leaving the United States wide-open for investment dollars.
“(Canada is) actually backlogged which means there are folks looking to move their dollars elsewhere for investment. That’s created demand for the EB5 program,” United States Congressman Rick Larsen told Yahoo! Canada News. “Other countries are marketing (their immigrant investor programs) overseas. And those dollars are going to end up invested in a country and I would prefer those dollars end up in the United States,” he added.
The United States immigrant investor program is going to expire in September of 2012, but Congressman Larsen has sponsored a bill to make the program permanent.
Comparing Canada and the United States’ immigrant investor programs
United States immigrant investor program
– called the EB-5 Regional Centre program
– 5,000 visas annually
– $500,000 investment required
Canada immigrant investor program
– $800,000 investment over 5 years required
– Investment can be financed, resulting in overall an only $200,000 investment.