How does this change residency by investment?
With a newly elected US president, many aren’t sure what his immigration plan can mean for them. In this article, we cover what some of those changes could look like and how that could affect investors hoping to move to the US.
Why Move to the United States
If you are still curious why many people are relocating to the United States, let’s take a look at some of the personal and financial reasons. The country is very attractive to investors because of the highly developed and efficient United States financial markets. These financial benefits can be used to diversify an investor’s portfolio and protect from market risk of their local investments or could be used to create a new life in the US and begin a life of investing. Some people already have strong ties to the United States, like family, business, or trade flow, and want to be closer to those. Beyond financial perks, people also want the personal and social benefits of the United States. The country has long been called a cultural melting pot and has been welcoming immigrants from all over the world for years. Cities like New York and Los Angeles are considered global cultural hotspots and produce some of the most famous movies, television, art, fashion, and more. Many also enjoy the different choices of lifestyles and terrain to choose from. There are rural and metropolitan areas and everything in between. In terms of weather and terrain, some areas of the world are always warm and close to the beautiful coast, while others are multi-season areas. There are even dry, hot deserts with beautiful landscapes. No matter your reasoning, there is something for everyone in the United States of America. With many different routes to live here, contact Alpen Partners to discover what’s best for you.
Changes to the US Immigration Policy
Now that you know why anyone is moving to the United States, let’s look at some of the changes happening in immigration laws as they could significantly affect how we see relocation. Newly elected US President Joe Biden has proposed new immigration regulations that will change citizenship eligibility for many, known as the US Citizenship Act of 2021. The new plan was proposed by Democrats on Capitol Hill and could possibly create a path for 11 million undocumented immigrants to become US citizens. The plan could also get rid of restrictions placed on family-based immigration and expand worker visas. In this plan, Biden focuses on the large undocumented population in the US, saying that after paying taxes and passing a background check, they should be given the opportunity to live and work in the country for five years, apply for a permanent residence green card and then eventually earn citizenship. One of the most significant parts of this plan is lifting family-based immigration restrictions. This would make it easier for spouses and children to also live in the United States.
What do these changes mean for investors? One of the most popular routes to US residence and citizenship is through the EB5 investor visa that grants residence to qualified investors. The US Citizenship Act of 2021 offers potential benefits to these investors. First, the act could remove visa caps that are based on an investor’s country of origin. A cap was initially put in place to ensure immigration opportunities were evenly distributed, but they did not consider the demand for immigration and the population of every country. Another benefit to the EB5 visa is clearing backlogs for employment-based visas. China, for example, is a popular country for this visa, and due to the caps, there has been a backlog of applicants, making it hard for investors from this country to begin their relocation journey. The act would also introduce shorter wait times, which is a huge problem, especially for those in the countries with backlogs. The eligibility of family members is another important factor of these changes. The act would exempt family members of investors from securing a work visa, granting entire families easier entry.
Move to the US with Alpen Partners
What do these changes mean for you and your future? If you are thinking of relocating to the United States, don’t do it alone. With the guidance of professionals, your transition can be effortless. Alpen Partners has relationships with respected law firms worldwide, and we advise clients on global expatriation and relocation, not just the United States. We take all aspects of your life into consideration when relocation, both personal and financial. There are so many different relocation options depending on how long you would like to stay in the country if you are looking to invest or work, and many other factors. For example, some visa programs in the United States offer investors economic and personal benefits by diversifying their portfolios, such as the EB5 visa mentioned above and the E2 Treaty. Reaching out for a hand is always recommended when it comes to offshore investing, especially when immigration laws can change whenever there is a new president.
Alpen Partners, and our team of experts, can guide investors through the world of residency by investment, relocating, and more. If you aren’t sure where you want to move, we can talk to you about your goals and find what’s best for you. Maybe you are dead set on the United States. We will create the plan to ensure you get the most out of your new life. We work hand in hand with our clients to ensure their economic and personal goals are exceeded. We don’t just cover residency and investment services; our team can assist in all levels of financial and life planning for high net worth individuals. This includes tax planning, asset protection, portfolio diversification, and more. Contact the experts of Alpen Partners today!