Filipino nationals who invest abroad can gain alternate residency privileges as well as a variety of advantages, including improved global mobility, access to elite educational institutions, first-rate healthcare, and increased commercial prospects.
Over the past few years, there has been a sharp rise in high-net-worth individuals’ interest in acquiring an alternative residence through investment as they look to increase their access to the global market and the freedom of where they and their families can live, work, and study. The United States is one of the most sought-after locations for both business and alternative dwellings because it has the largest economy in the world, with a GDP of over USD 20 trillion. Filipino nationals who engage in a business in the USA may be granted permanent.
America is a haven for the wealthy.
According to the most recent report from Henley & Partners, the world leader in residence and citizenship by investment, wealthy Filipino investors would be in good company if they chose to invest in the United States, which will top the list of the World’s Wealthiest Cities in 2023 in terms of the number of millionaires residing there. With 340,000 millionaires, the New York metropolis holds the title of being the world’s wealthiest metropolis. The San Francisco Bay Area and Los Angeles, two other American wealth concentrations, are third and sixth, with 285,000 and 205,400 high-net-worth residents, respectively.
With 102%, 90%, and 88% growth, respectively, other places like Austin in Texas, West Palm Beach in Florida, and Scottsdale in Arizona rank well on the Top 10 list of fastest-growing cities when it comes to resident millionaires during the past ten years.
The US EB-5 Immigrant Investor Program can be used to obtain permission to reside, work, and study in any of these top global wealth hubs.
Important advantages of investing in the USA
There are many options available in the USA in terms of lifestyle, location, education, and climate. For wealthy Filipino businesspeople looking for a new home, the US EB-5 Immigrant Investor Program is a top option because of the following factors:
- Families are welcome to invest; this includes the investor’s spouse and any minor children who are not married.
- A wide range of highly regarded institutions and Ivy League universities are available to your children nationwide, giving them the best advantage.
- Travel flexibility – Because there are no strict physical presence restrictions, you can freely move between the United States, the Philippines, and any of the other 34 countries that don’t require a visa for holders of EB-5 visas.
- No special language skills or business experience is required to apply to the program, which has minimal application criteria.
- Legacy-building — After five years of residing in the USA, successful applicants may be eligible for citizenship.
Vital business investments
The following two conditions must be met by applicants in order to be granted permanent residency in the USA:
1. Invest in a business that is connected to a regional center that has received government approval.
Applicants have the option of investing USD 1.05 million in a non-targeted employment area project or USD 800,000 in a targeted employment area project in a rural or high unemployment location.
2. 10 full-time, permanent positions should be created or maintained for competent Americans.
Investors must also be able to demonstrate the legitimacy of their finances and have a net worth of at least USD $1 million.
Successful candidates receive an EB-5 visa (green card) 30-36 months after filing their application, giving them and their families a chance to live, work, and study anywhere in the world.