Numerous South Africans are disturbed and uncertain about their future in Mzansi as a result of the country’s pressing problems, which include growing living costs, persistent state-managed power outages, and deteriorating infrastructure.
The United States (US) has traditionally been a destination of choice for South Africans due to its high level of life and abundance of wonderful chances.
A lot of South Africans are seeking to establish themselves outside the country’s boundaries due to the country’s shifting political climate and difficult economic situations.
Sonja Clarke, regional director and op EB-5 fund manager for FirstPathway Partners, has worked with various South African EB-5 investors over the years and watched the country’s shifting scenario.
“South Africa is on the verge of a severe and debilitating economic decline, as well as a politically perilous period in our nation’s history, with the strong prospect of an impending collapse of our electricity generation. Increasing numbers of South Africans are experiencing uncertainty.” Clarke stated, according to BusinessTech.
The US government has also warned of the terrible effects a complete breakdown of the grid would have on South Africa’s economy, which is not expected to grow by more than 1% in 2014.
Through the Green Card Lottery, which awards resident visas to citizens of qualified nations, a number of South Africans have been able to relocate to the United States.
However, not all candidates are so fortunate to win the lottery for coveted green cards. However, South Africans still have another option to cross the ocean and live the American Dream.
The EB-5 Regional Center Program gives US green cards to immigrant investors who invest $800 000 (about R13.7 million) in high unemployment, rural, or infrastructure projects that produce at least 10 new jobs. Each application comprises the investor, his or her spouse, and any unmarried children under 21 years of age.
Despite the fact that many investors prefer to reside permanently in the United States, the EB-5 program does not force investors to do so.
This is advantageous for South Africans who seek to get US residency without being required to live there permanently.
Clarke noted, “The majority of investors I’ve worked with appreciate the flexibility the EB-5 visa provides.”