Brazilian nationals are showing an increased level of interest in the EB-5 program because it offers them a fast track to gain US citizenship, Emigrate.co.uk claims. Affluent nationals in Brazil have been scooping up large amounts of the market’s luxury real estate in Florida and experts are predicting that this trend is only going to continue and grow.
The Regional Project Centre allows foreign-born investors the opportunity to gain US citizenship providing that they invest a minimum of $500,000 into an area that has a high rate of unemployment. The Miami Herald has been reporting that Brazilians have spent around $1.345 billion just in Miami-Dade County during 2011 alone.
One EB-5 project, the Riviera Health Resort, is a high-end nursing facility located in Coral Gables. It has a long history of successful management of healthcare facilities and the group in charge of the resort is offering the opportunity to gain citizenship to foreign nationals if they employ a minimum of 10 local people within the first two years of their investment.
The Association to Invest in USA (IIUSA) recently announced the third annual EB-5 International Investment and Economic Development Forum. This showcase and networking event welcomes EB-5 professionals from across the world. The focus of the non-profit organization is the improvement of the EB-5 program and economic growth in the United States. According to Peter D Joseph, IIUSA executive director, “Dynamic events such as these catalyze progressive reform and development, further enabling the success of the rapidly growing EB-5 industry.”