High EB-5 numbers in India, South Korea and South Africa
Many foreign families are looking to the U.S. for better opportunities and lifestyles. India, South Korea, and South Africa are the countries that show an increase in EB-5 visa applications.
India's overall tax level is increasing to 42% as a recent budget introduced an extra 3% on high-net-worth Indians. Combined with other factors - living standards, tax harassment, and complicated business policies - Indians are making a move to the U.S. "This is more about being a global citizen than trying to avoid taxes," says the CEO of an Indian immigration firm.
SOUTH KOREAN MIGRATION
South Koreans with considerable capital are leaving their homeland in more significant numbers. The U.S. is increasingly becoming a more attractive home for South Koreans. U.S. Department of State numbers show that 531 South Koreans were granted EB-5 visas in 2018, up 172% from 195 in 2017. The future investment increases are also said to be driving EB-5 demand in South Korea.
SOUTH AFRICAN MIGRATION
Places change, but the reason for people leaving is quite the same. South African business people are concerned about their local economy, and are looking to become more "global" by migrating in increasing numbers.