Demand for US investment visas by wealthy South Africans has more than doubled.
Data released last week showed that South African demand for US EB-5 visas, which allow people to obtain a green card by investing $500 000 (R6.66 million) into a US business, has increased sharply since 2014.
Doug van der Merwe of LCR Capital, a private equity investment firm that helps high-net-worth investors to acquire the visas, said data showed that the EB-5 market is much larger than the industry previously thought, and it is growing rapidly.
Van der Merwe said applications increased from 18 in 2014 to 40 in 2015.
“We think it’s likely that number will have doubled again in 2016, based on the increased interest we have recently experienced at LCR,” he said.
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