A window of opportunity for South Africans wanting to immigrate to the US will likely close in the next few months, Los Angeles-based Bernard Wolfsdorf has warned in an interview with Fin24. Changes are expected to the EB-5 visa category, where entrepreneurs are eligible to apply for a green card if they invest a minimum of $500,000 in a targeted employment zone in the US and directly or indirectly create or preserve 10 permanent full-time jobs for qualified US workers. The US government is looking at raising the minimum investment amount to $1.35m, notes Wolfsdorf. “That would make this option very difficult for even the high net worth folks, so there is a narrow window of maybe only a few months for those seeking to immigrate via the programme,” Wolfsdorf said. He has already noticed an uptick in demand from South Africans, though it is not only wealthy Saffers who are scrambling to invest in the US. Chinese immigrants in particular are expected to fast-track plans to get the visas as President Donald Trump moves to make it harder for immigrants to enter the US. – Jackie Cameron
From Bloomberg News
As members of Congress in Washington debate raising the minimum required to obtain a U.S. immigrant investor visa from $500,000 to $1.35 million, concern about the hike has set off a scramble among wealthy would-be participants in China.