Earlier this year, the U.S. Department of State published the statistics for fiscal year 2017 regarding the country-by-country breakdown of immigrants availing themselves of the EB-5 visa program. A trend in recent years that continued in 2017 was the dramatic uptick in Brazilians using the program. That increase also potentially serves as good news for investment projects in South Florida, which tends to be a leading target of Brazilian investors. To get the advice and advocacy you need regarding your visa application, make sure to retain the services of an experienced Florida immigration attorney.
In 2017, just like 2016, Chinese immigrants were the main users of the program, making up 75% of the pool of EB-5 visa recipients (as opposed to 76% in 2016). In 2017, as was true in 2016, the country most closely behind China was Vietnam. Brazil, however, surged to third on that list. In fact, the number of Brazilians who received EB-5 visas in 2017 was nearly twice the number issued to Brazilians in 2016 and an eight-fold increase from 2015.
While many Chinese investors tend to focus their investment efforts on New York City, those familiar with EB-5 visas and South American investors believe that the influx of Brazilian EB-5 visa seekers is good news for South Florida. Some observers believe that more than half of the Brazilian investors will put their money into projects in South Florida, according to therealdeal.com. Difficulties in the Brazilian economy, including inflation, have been a driving force behind the increase in Brazilian investors, according to the report.