The EB-5 Visa is important to Florida real estate development (as well as the Florida economy overall) because it is a great incentive for foreign investors to choose Florida - particularly places like Miami, South Florida, and Orlando's Lake Nona - as a place to invest their international funds, be they British Pounds, Brazilian Reals, or Chinese Yuans.
We've been monitoring the EB-5 Visa's growing popularity here in the United States, particularly its impact here in Florida for a while now. For details on how the EB-5 works, check out our earlier posts.
Miami's EB-5 Application Adds Tallest Building in Miami Project
As for the latest, it seems that Miami is working very hard to become a United States Regional Center for the EB-5 Immigrant Investor Program Visa, and recently the City of Miami announced that the proposed Panorama Tower will be a signature project on Miami's application.
The Panorama Tower will be built at 1101 Brickell Avenue in Miami, as an 83-story project and once completed, it will be the talling building in the Miami skyline.
China Investors Received 70% EB-5 Visas in 2011
As for what country is expected to be the most interested in these EB-5 Visas, if the past is any prediction of the future it will be China who is most represented at the new Miami EB-5 Regional Center.
According to CNN, seventy percent (70%) of the EB-5 Visas issued last year went to Chinese investors.
Benefits of an EB-5 Visa to a Chinese Investor
What's the big deal about an EB-5 Visa? From the South Florida Investment Regional Center's website, the advantages offered by this Immigrant Investor visa include:
- There are no requirements regarding age, business experience or language skills
- The program does not require investors to manage their investment on a daily basis. As a limited partner, an investor is free to pursue other professional or personal ventures.
- An investor does not have to be continuously present in the U.S., and can maintain business and professional relations in their own country.
- An investor does not have to live in the city or state where their EB-5 investment is located.
- You can obtain permanent residency through the EB-5 Investor Visa Program.
How much is Florida expecting Chinese investors to take advantage of the EB-5 Visa invitation to invest here? Check out the South Florida site, which offers printable brochures giving more details about the EB-5 and other investment opportunities, in only three different languages, one notably Chinese:
- Chinese (??)