Can You Get a “Golden Visa” in Florida?

Many high-net-worth individuals want to skip the tedious immigration process and pursue so-called “golden visas.” In theory, a visa of this type would allow you to pay a certain amount of money in exchange for a permanent resident card. But is something like this even possible in the United States? Can you simply buy a visa in Palm Beach County? The answer to this question isn’t exactly straightforward, and you might want to discuss your options in more detail with an immigration lawyer.

The Closest Thing to a Golden Visa in the United States 

The closest thing to a golden visa in the United States is the EB-5 visa. That being said, some might argue that this is not a “true” golden visa. Compared to golden visas offered by many other countries, the EB-5 investor program has more requirements and higher investment requirements. For example, Greece provides a golden visa with a simple deposit of 400,000 euros in a Greek credit institution. You can “buy” permanent residency in Malta (a tax haven) by spending just 350,000 euros on real estate in the country.  Buying 500,000 euros worth of real estate in Spain can theoretically get you a visa in less than one month.

EB-5 Visa Requirements in Florida 

If you want to receive an EB-5 visa, you must invest at least $800,000 in a “US enterprise.” While this might seem comparable to investment requirements in other countries offering golden visas, you cannot receive a green card with money alone in the United States.

Another important requirement is the creation of jobs for Americans. In other words, your investment must lead to the hiring of numerous American citizens. Note that the specific requirements may vary depending on the area in which you choose to make your investment. The $800,000 requirement only applies to “Targeted Employment Areas.” These are generally rural areas or neighborhoods with extremely low-performing economies. If you want to make your investment in a “normal” area (such as a major city), you will likely need to invest over $1 million.

Job creation requirements also vary depending on your circumstances. If you simply invest in an existing US company, you only need to “indirectly” create jobs for Americans. If you create your own company, however, you must directly create new jobs. In other words, you need to directly hire a certain number of job-searching Americans.

The Bottom Line 

While other countries might offer streamlined pathways to golden visas, the EB-5 program may be more complex than you realize. The program revolves around job creation, entrepreneurship, and real added value to the US economy. To discuss these complexities in greater detail, consider speaking with an immigration lawyer.

Find an Experienced Immigration Lawyer in Palm Beach County 

If you’ve been searching for an experienced Palm Beach County immigration lawyer, look no further than The Devore Law Group. Over the years, we have helped many high-net-worth individuals pursue residency and citizenship in Florida. While it may be possible to leverage your wealth as you pursue a new home in the United States, the ideal immigration strategy depends on your unique circumstances. Online research only provides basic guidance, so reach out today for more targeted legal advice.

Sources: 

investopedia.com/golden-visa-countries-8356287

uscis.gov/working-in-the-united-states/permanent-workers/employment-based-immigration-fifth-preference-eb-5/eb-5-questions-and-answers