We all know getting the infamous EB-5 Green Card is increasingly pricey, and many investors are looking for cheaper alternatives to access the USA. Aside from the high price, the EB-5 program also includes a cap of around 700 applicants per country annually.
Therefore, certain countries have a considerable backlog, for instance, China, and hence, Chinese applicants can wait up to 17 years to get access to the EB-5. Thankfully, with the E2 visa, you can still obtain permanent residence in the US. Yes, you heard that right! Stick around to find out more.
The E2 visa grants you permanent residence in the USA if you invest in government-approved projects across the country. This visa can be beneficial since it grants access to the USA education system. Above all, this visa also gives you the right to work, retire, study or even retire in the USA. And that’s not all! Your child (under 21) will get permanent residence in the US.
Here’s the tricky part: The E2 visa can only be obtained when the investment is substantial and from countries with an E2 treaty with the US. What do I mean? First, you need to have a good investment before registering for this visa, but it’s less when compared to that of EB-5.
The other crucial part is you have to be a residence of a country with an E2 treaty with the US, including Montenegro, Turkey, and Grenada. In this article, we’ll concentrate on obtaining a Turkey residency for Chinese citizens.
Chinese citizens now face a lengthy retrogression delay through the EB-5, and the most effective alternative is the E2 visa. Turkey announced their citizenship by investment program back in 2016. The program grants residency and a second passport to applicants who’ve invested in real estate or bank deposits.
You will need to purchase a property with a minimum investment of $250,000, making it the lowest priced citizenship by investment in the market. The real estate investment was close to $1million, but it was recently reduced in 2018. This visa grants you free travel to 125 countries with a possibility of visa-free travel to the EU. And that’s all you need to obtain your Turkey citizenship which gives you an upper hand to apply for the E2 visa to the USA.
Once you’ve obtained your Turkey visa, you are eligible to apply for the E2 visa in the USA. You will need to invest in a US business where you own at least 50% shares. Thankfully, there’s no official minimum investment amount that has been stipulated, but it’s advisable to invest at least $120,000 to ensure you have a successful application.
The process takes about three months, and the residency will be issued with a five-year residency with unlimited renewals. This entire process will take up to 9-12 months, including obtaining the Turkey visa, and will roughly cost around $370,000. That’s a much faster and cost-effective process to obtaining access to the US with a bonus of Turkey citizenship.