Ryan is visiting Cape Town to explain the legalities, logistics and processes involved in qualifying and applying for the US’s EB-5 investment visa and dual citizenship.
He said currently a minimum investment of $500 000 (R7.32 million) was required for an EB-5 investor visa, but from November 21 this would increase to $900 000, and there are potential risks for those who do not fully comprehend the schemes that are attracting South African investors
“If investors do not properly investigate or understand the schemes that are being promoted to them, their money could be at risk. Several people have lost their entire investment and have also, therefore, not been successful in their green card applications. The number of people negatively affected in this way could increase as investors rush to secure an EB-5 visa at the current investment level before the deadline, when it will increase by 80 percent,” said Ryan.
He said most EB-5 projects in the US involve an investment in a single commercial real estate development asset, which is usually promoted by an individual property developer or corporation that is invariably more focused on maximising its financial gains than on protecting the financial interests of EB-5 investors.