What is the EB-5 Visa Statistics for Turkey Investors?
There were 12 EB-5 Visas released to Turkey investors in FY 2023 according to the Report of the Visa Office 2023 from the U.S. Department of State (DOS).
What are the Challenges for Turkey Investors for EB-5?
Turkey investors face specific challenges when applying for the EB-5 Visa. The first is the ability to meet the minimum investment capital. The Turkey investor should be prepared to supply the minimum investment and prove a legal source of EB5 funds. The second is the risk of losses in the EB5 investment project. There is no guarantee of capital repayment in the EB 5 project. The main benefit of the EB-5 Visa for Turkey investors is getting permanent residence in the US. The third is the occurrence of fraud schemes that target EB-5 investors. Hiring an EB-5 attorney, consulting the right experts, and working with reputable EB-5 partners help solve these challenges of the EB-5 Program.
What is the Best Project to Invest in with an EB-5 Visa for Turkey Investors?
EB-5 Projects are the US businesses created for the EB-5 Visa application of Turkey investors.
The top EB-5 projects for Turkey investors include real estate and restaurant industries. An EB-5 project in real estate has a readily understandable exit strategy for Turkey investors. An EB-5 project for the restaurant industry generates a sizeable cash flow for repayment and return on capital.
What Does the Future Hold for EB-5 Investors from Turkey?
There is potential for the EB 5 market for Turkey investors to grow. Turkey investors do not face backlogs in the application for EB-5 Visa. Transferring EB 5 funds from Turkey is easier compared to countries with currency restrictions such as Bangladesh and Iran.
What are the Other US Visa Available for Turkey Nationals?
Immigrant and nonimmigrant visas are available to Turkey nationals to grant entry to the United States. Immigrant petitions are approved by the USCIS prior to applying for visa approval. The petition is filed by a qualified relative or a potential employer. Nonimmigrant visas are available to foreign citizens who wish to enter the United States temporarily. Nonimmigrant visas are granted to tourists, business people, students, or specialty workers for a particular period of time to accomplish specific purposes.
The following are the US Visas available to Turkey nationals.
- Family-Based Immigration. For foreign citizens sponsored by an immediate relative who is a U.S. citizen or a U.S. green card holder and is at least 21 years old.
- Fiancé(e) K-1 nonimmigrant visa. For a foreign fiancé(e) of a US citizen. The foreign fiancé(e) is allowed to stay in the U.S. to apply for permanent residency after marriage.
- K-3 Visa. For the foreign spouse of a U.S. citizen traveling to reside in the U.S. while awaiting final completion of their immigration. The spouse’s children can enter the U.S. with a K-4 Visa.
- Employment-Based Immigration. For qualified applicants under the provisions of US immigration law. The EB-5 Visa falls under the Employment Fifth Preference (E5).
- Diversity Visa. For countries with low rates of immigration to the US in the previous 5 years.
- Returning Resident Visa. For permanent residents who have remained outside of the US for more than 1 year, or beyond the validity period of their Re-entry Permit.
- B-1/B-2 Visitor Visa. For people traveling to the US for business or pleasure, or for medical treatment.
- Temporary Worker/Employment or Trainees (H, L, O, P, Q, R). For temporary, nonimmigrant workers petitioned by US employers or agents.
- Student Visa. For foreign citizens who wish to study in the US.
- Exchange Visitor Visa. For foreign citizens participating in exchange programs.
- Journalist and Media Visa. For representatives of the foreign media traveling to the US to engage in their profession while having their home office in a foreign country.
- Treaty Trader (E-1) and Investor (E-2) Visa. For citizens of countries with treaties of commerce and navigation with the U.S.
- A Visas. For Turkish government officials entering the U.S. for temporary or permanent assignment.
What is the Most Popular State in the United States for Turkey Investors to Migrate to?
Most Turkey immigrants are concentrated in the U.S. states of New York, New Jersey, and California according to the Turkish Coalition of America.
What is the Current Retrogression Situation for Turkey Investors?
There is no backlog (retrogression) in the EB 5 application for Turkey investors. Qualified Turkey investors are able to obtain their EB-5 Visas faster compared to applicants from India and China.
What are the Issues Experienced by the Turkey Citizen with the EB-5 Visa?
The first issue for Turkey investors for EB 5 Visa is using the sale of a long-held property as the EB5 fund. Irregular practices in Turkey during the last decade resulted in title deed documents and tax records mismatching with the actual sale amount. The second issue for Turkey investors for EB5 Visa is taxes. The U.S. and Turkey had an agreement in 1996 to prevent double taxation but wealthy Turks continue to shelter their assets from the U.S. tax system. These issues are addressed by consulting with qualified tax advisors, wealth managers, or law firms that are well-versed in the US-Turkey tax and financial practice.
What is a Targeted Employment Area?
A targeted employment area (TEA) is a region in the United States where the threshold for investment is $800,000 (₺14,732,560 Turkish Lira) for Turkey investors to qualify for the EB-5 Visa. The two kinds of targeted employment areas are high unemployment areas and rural areas.
What Other Countries can Invest in the EB-5 Visa Program?
There were nearly 100,000 foreign investors who obtained permanent residence in the United States via the EB-5 Program from 2012 to 2022 according to “The United States EB-5 Program” by Investment Migration Insider. About 80% of EB5 investors come from Taiwan, China, South Korea, and the United Kingdom. Below are the top countries that apply for the EB-5 Visa.
Is USA a Good Foreign Market to Invest in for Turkey Citizens?
Yes, the foreign direct investment (FDI) from Turkey to the U.S. increased by 7.6% from 2018 to 2019 according to the Office of the United States Trade Representative. The total foreign direct investment (FDI) from Turkey to the U.S. in 2019 was $2.3 billion.
Can EB-5 Visa Attorney Speed Up the Process of EB-5 Visa?
Yes, an EB-5 Visa attorney helps Turkey investors in speeding up the EB5 Visa processing. Delays from processing errors and documentation issues can be prevented by consulting an EB5 Visa Attorney.
Is Obtaining an EB-5 Easy for Turkey Investors?
Turkey investors are able to obtain their EB-5 Visas faster because of the “current” visa bulletin status of the application for Turkey.
Can a Turkey National Apply for EB 5 while on H1B?
Yes, a Turkey national with a valid H-1B Visa can apply for an EB5 Visa. The H1B Visa is a temporary nonimmigrant visa that permits foreign workers to be employed in the US. A Turkey national on H-1B Visa can submit multiple petitions including the EB5 Visa without canceling their H1B status.
Can a Turkey Investor Borrow Money for EB-5 Visa?
Yes, Turkey investors can use loans for their EB-5 Visa application. The loan has to be secured by assets and the collateral cannot be the same EB-5 project.
Can an International Student from Turkey with an F-1 Visa Apply for EB5 Visa?
Yes, a Turkey student on F-1 Visa can apply for the EB-5 Visa. The F1 Visa is a nonimmigrant visa for foreign students to be granted US entry for the duration of their studies. The Turkey student on F1 Visa should invest a minimum capital in a US business. This investment should create a minimum of 10 full-time jobs for Americans.
Can a Turkey Citizen Invest in the United States?
The EB5 Visa and the E-2 Visa are the two investment visas in the United States. The E2 Visa is a nonimmigrant visa that allows nationals of treaty countries to invest in a US business. A treaty country maintains a treaty of commerce and navigation with the US. Turkey has an existing treaty with the U.S. and is eligible for the E2 Visa.
The E-2 Visa does not have a direct path to a green card, unlike the EB-5 Visa. A substantial investment of at least $150,000 (₺2,762,355 Turkish Lira) is required for an E-2 Visa investment. There is no requirement for minimum job creation for E2 Visa.
Does a Turkey Citizen Need a Visa for USA?
Yes, Turkey citizens need to have a visa to enter the United States. Turkey does not qualify for the Visa Waiver Program that allows citizens from 38 countries to travel visa-free to the US. Countries that qualify for the Visa Waiver Program include Australia, Germany, Japan, New Zealand, and South Korea.