The economy of the United States is booming as evidenced by the declining unemployment rate, growing GDP, and the strengthening of the U.S. Dollar. The strength of the U.S. economy has bolstered the attractiveness of the U.S. Green Card by investment program, officially known as the EB-5 Immigrant Investor Program, amongst global investors. Some potential investors are sitting on the sidelines and curious whether to commit to the program now or wait.
The job report of July 2022 published by the U.S. Bureau of Labor Statistics (BLS) shows that the unemployment rate has gone down to its pre-pandemic levels of 3.5 percent. A declining unemployment rate is a sign of good economic health. As reported by the BLS, job growth in the U.S. economy has been widespread, “led by gains in leisure and hospitality, professional and business services, and health care.” The strong and steady job growth means that there are more job openings available for those looking to join the workforce in the United States. For those looking to continue their careers in the U.S. or hoping to open up job opportunities for their children, the United States cannot be more attractive. With the unemployment rate down to 3.5% percent, essentially anyone who seeks employment can obtain it.
In late July, the U.S. Bureau of Economic Analysis (BEA) released its first estimate of second-quarter real gross domestic product (GDP) for the U.S. which experienced a decrease at an annual rate of 0.9 percent in the second quarter of 2022. The real GDP for the first quarter of 2022 decreased at an annual rate of 1.6 percent. Therefore, comparatively, real GDP is experiencing a slowing rate of decline, which the BEA attributes to “an upturn in exports and a smaller decrease in federal government spending that were partly offset by larger declines in private inventory investment and state and local government spending.” As reported by the BEA, both current-dollar personal income and disposable personal income increased in the second quarter, meaning that compensation for the U.S. workforce has increased due to rising private wages and salaries.
Additionally, the U.S. Dollar has recently strengthened against other global currencies such as the Euro, the Japanese Yen, and others. The strengthening U.S. currency is the result of the Federal Reserve increasing interest rates in order to fight off inflation and the increasing confidence of global investors in the U.S. economy.
The U.S. economic recovery is expected to continue in 2022 supporting the U.S. Dollar. When the cost of living or inflation rises in the U.S., the U.S. Dollar often moves higher. Inflation rose sharply heading towards the end of 2022 which helped the U.S. Dollar rise and is expected to remain steady for some time. International investors looking to turn their local currencies into Dollars are fraught over exchange rates. Yet the U.S. Dollar historically has climbed over Asian currencies. The Indian Rupee, for example, has declined steadily over decades without severe volatility. Thus, waiting for a weaker Dollar may be unrealistic.
These three metrics show that the United States economy remains strong and is an attractive destination for global investors seeking to invest in a politically and economically stable country. This coupled with the positive overhaul of the EB-5 program by Congress in March 2022 has made the time ripe for investors to apply for their U.S. Green Cards by way of making an investment of $800,000 in the U.S. economy.
The EB-5 program is a U.S. government immigration program designed to attract foreign direct investment in exchange for U.S. residency and Green Cards. A family, including the main applicant, spouse, and unmarried children under the age of 21, can qualify for the U.S. Green Card by way of making an investment in a qualifying project and meeting the requirements of the program.
“Participating in the EB-5 program is not only a good business decision as you will be investing in a project in one of the most stable economies in the world, but it is also a good personal decision as you will be investing in the future security and happiness of your family,” says Shai Zamanian, Legal Director of The American Legal Center, a top regional immigration consultancy firm with headquarters in Dubai, the United Arab Emirates.
Also published on Medium.