Texas has become a magnet for foreigners seeking new investment or security for their families, through a federal program that gives them visas and permanent residency if they invest half a million dollars and create jobs. Entire families from Mexico and Latin America have used this program for EB-5 investors and have been applied in the 17 regional centers in Texas authorized by the Office of Citizenship and Immigration Services (USCIS) of the 204 national in 40 institutions. Some call it the “golden immigration” because usually it comes from wealthy families who migrate legally to expand its investments or, as in the case of imports originating in Mexico, to exile himself from the violence.
Despite this, approximately only 20% of applicants are from Latin America, against 70% from China and the rest are from other countries.
One of the regional centers to apply for EB-5 visa is the most active city that manages Dallas, through its Office of Economic Development, which was authorized in 2009 and since then has attracted more than $ 119 million for development projects and commercial real estate. In partnership with the company “Civitas Capital Management,” have processed 238 EB-5, which meant 2.380 local jobs in the last 2 years. ”So much for Dallas to investors is a good chance of long-term business,” said Karl Zavitkovsky, director of the municipal economic development office in charge of the program.
Generally these are real estate related investments such as call centers, restaurants, multifamily apartment buildings, residential homes or commercial offices, he said. In the case of Dallas, the development office municipal economic and Civitas Capital Management company making efforts to attract more Mexican businessmen, so they have conducted talks with potential investors in states such as Nuevo Leon, San Luis Potosi, Veracruz and Mexico City, where they travel to talk about available investment projects. ”For us, Mexico is a high priority, both for its proximity and the familiarity with the U.S. economy for many of the Mexican capitalists who have invested above, have lived or studied in this country and have certain business sophistication, “said Zavitkovsky.
Read more at Texas offers immigrants citizenship to investors.
