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: