According to The Wall Street Journal, Seattle is becoming the new Vancouver. Chinese investors are buying up Seattle fast. Why?
Chinese investors are buying up Seattle after Canada placed a hefty 15% tax on foreign investments in Vancouver.
Even though Vancouver was an extremely popular city to invest in, this tax has lead Chinese investors to look south to Seattle to invest their money.
This sudden change may mean big things for the EB-5 Program. If more Mainland-born Chinese look to investing in the U.S. they may also invest in the EB-5 Program so that they can obtain citizenship for themselves, their husbands or wives and their unmarried children under the age of 21.
With talks of raising the minimum investment for the EB-5 Program, it may greatly benefit many Chinese investors to apply to the EB-5 Program now, while the minimum is still only $500,000 for the Regional Center Program.
The Regional Center Program offers applicants the opportunity to invest in the Program without having to manage the day-to-day operations of the business. An ideal situation for any investors whose primary focus is obtaining visas and ultimately U.S. citizenship.
There are currently 8 Seattle-based regional centers on the USCIS approved list. While USCIS approves these regional centers, they in no way endorse them, so it is imperative that any investor conduct thorough due diligence prior to investing.