The EB-5 visa is a form of investment aimed at boosting the U.S. economy and generating employment opportunities for U.S. citizens in exchange for granting Vietnamese investors and their families the opportunity to obtain U.S. green cards. Although the investment capital required is substantial and comes with some risks, the EB-5 program has remained the most popular immigration pathway for over a decade and continues to be highly sought after in Vietnam.
Recently, the U.S. investment association, IIUSA, a reputable nonprofit organization in the EB-5 investment field, organized a conference in Ho Chi Minh City, attracting around 300 Vietnamese investors and various consulting firms and attorneys from both the U.S. and Vietnam. Despite the challenges posed by the COVID-19 pandemic, the United States Citizenship and Immigration Services (USCIS) has made positive changes. While the EB-5 investment capital has increased by about 30%, investors from Vietnam now enjoy an extended deadline until September 30, 2027, for investments in regional centers, with longer durations than before.
According to Aaron Graw, the Executive Director of IIUSA, Vietnam’s EB-5 market is perhaps one of the strongest in the world. The association has conducted meetings in Latin America, South Korea, West Africa, and South Africa, but the enthusiasm and interest they have seen from Vietnamese investors are exceptional.
Furthermore, the USCIS has recently established an integrity fund, aiming to supervise and monitor activities related to the EB-5 program to prevent fraud and ensure fairness for all parties involved. All EB-5 regional centers will be subject to audits at least once every five years. This change brings significant benefits for Vietnamese investors.
According to Wilka Toppins, a renowned immigration attorney from Womble Bond Dickinson international law firm, the EB-5 market in Vietnam is highly dynamic and robust, making it one of the strongest markets globally. Many individuals are keen on participating in the EB-5 program, and they should indeed do so as it offers an excellent solution for Vietnamese investors.
Cathy Nguyen, Founder of Truely Wonder – a famous business woman in Austin, Texas, shared that within three years, investors already hold the 10-year green card, meaning they possess permanent residency. After four more years, they can apply for naturalization, reaping the benefits of their investments in various projects.
Over the past 30 years, through regional centers in different states, IIUSA has created tens of thousands of jobs across various industries and communities. As a result, the U.S. has attracted over $32 billion in direct foreign investment without paying any fees to taxpayers.
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