Idowu Olumide, CEO of Brandleys International LTD, is an international private company that focuses on property investment and immigration consulting services. Olumide, a graduate of mathematics /statistics from Obafemi Awolowo University Ile-Ife, recently won the prestigious BID Group One Award in the Gold category for ‘Integrity and Quality’ at the just concluded BID convention in Paris, France.
In this interview with Kehinde Olatunji, he explains the benefits of EB-5VISA programme for Nigerians.
What is EB-5 visa program?
EB-5 means, Employment-Based Fifth Preference Category 1; Immigrant Investor Visa Program. It was created by US Congress in 1990 by the Immigration Act to stimulate the U.S economy in exchange for immigrant Investors to become lawful Permanent Residents.Surely, this an avenue for foreigners to bring capital investment into the United States in exchange for American citizenship both for the primary applicant, their spouses and unmarried children under age 21.
EB-5 permanent residents’ visa for me is the best for any family aspiring for any country’s citizenships. For now it’s cheaper than most of top Europe’s immigration by investment and if you deal with the right USA Regional Center you will eventually get your capital back plus all your family blue passports.
Of what importance is EB-5 visa to Nigerians?
Thank you for this question! Nigerians as you may know … no dey carry last.
It is a fact that Nigerians are the 11th highest beneficiary of the EB-5 Visa program as a country. We are just above Canada and Pakistan with small margin, even though the figures are nothing when compared to China, Vietnam, India etc. EB-5 is very important to Nigerians who have the means and are willing to relocate their families for better education, work, live and enjoy all the entitlements as a citizen in any part of United State of America. It is also pertinent to note that many Nigerians have been defrauded based on the same EB5 program because they didn’t follow the right channels or consult the right people. I wrote an article in 2017 to create awareness, after an American national; Marco Antonio Ramirez defrauded Nigerian of huge amount of money on the pretext of assisting them to acquire the EB-5 visa. http://tiny.cc/2fjd4y
What does it entail to get the visa?
EB-5 Visa Program as it’s been intended is basically for well to do individuals or families who have the legitimate means to invest and move with their families into the United States. A minimum investment of $1 million or $500,000 (rural area) in a new commercial enterprise is required from the investor. The amount has been anticipated to increase very soon by US Congress to $1.8 million and $1.3 million (rural area). It’s very wise to act now!
What are the economic benefits for the individual and country?
Fantastic! EB5 though relatively expensive, but with the right Regional Centre, after a certain period of time you will get back your initial capital. I don’t know any other country that will return your capital back to you after they must have given you and your family permanent residency. None!
On average, an estimated two or three migrants in five will leave the host country within five years of arrival. They will accumulate savings; in the case of EB5 they even get return of initial capital, which increases their possibility of setting up a business when they return to their home country. Migrants acquire skills abroad that help to transfer new ideas and norms that can improve economic and political outcomes in their home country. No doubt, they are beneficial to the economic development of the home country.
Who are the target audience?
Our target audiences are the legitimate well to do individuals, families and people of valuable inheritance. These are our clients.
Are there other programs apart from EB5 for other countries?
Of course, there are other USA businesses / investor visa program less expensive but not like EB5 and will be discussed in our coming seminar. Other countries do have theirs and it varies.
Tell us about the coming seminar?
It’s the first EB-5 Visa Program Seminar in Nigeria tagged “Engaging the Experts”.Maryland Center for Foreign Investment (MCFI) team will be in Nigeria specifically for the purpose of EB-5 Comprehensive Overview and Interactive. It’s a private by fee Seminar and we’ll also discuss toward the end of the event Immigrant Visa Categories, Treaty Trader and Treaty Investor, Visa for “New Offices”, Employment Based Visas, B-1 and B-2 Visas, Non-Immigrant Visa Overview. It will take place at the Marriot Sheraton Ikeja Hotel, Lagos for two day 27th and 28th April 2019.
What’s your word of advice to Nigerians?
Always seek a professional advice in anything you do. Remain focus with no distraction nothing is beyond you. I leave you with a quote
“Whatever happens to a man in this world happens to him for his own good. -Awo”