Last Thursday marked the end of the second quarter, with the United States’ quarterly report showing the country’s economy grew at an annualized rate of -32.9% amid increasing coronavirus cases.
During the global shutdown in response to the coronavirus pandemic, economic growth nearly halted. Now, as countries begin to reopen and resume economic activity, the United States is seeing an increase in cases in tandem with a decrease of the dollar’s value.
During this period of devaluation, every other major currency in the world has risen against the US dollar, with the euro rising the most in a decade and the British pound heading towards its best July in nearly twenty years.
The European Union reported a 5% growth in the euro’s value following the EU’s 750-billion-euro rescue plan, while the pound grew 5.8% as sterling begins to regain losses in value since March.
In Sweden, the krona advanced 6.8%, reaching 8.6413 per dollar while the Japanese Yen strengthened 2% against the dollar.
As the world continues to face unprecedented times, the state of the global economy presents an advantageous opportunity for foreign investors considering the EB-5 visa program. Investors will receive a green card and the ability to become United States citizens, along with their spouse and any children under the age of 21. Given the dollar’s recent drop in value relative to other currencies, the one-time investment for families interested in the program is more attainable.
While the minimum investment of $900,000 has not changed, the amount required to transfer to U.S. dollars has decreased as the value of the dollar has fallen.
The chart below shows the amount of investment necessary to reach the $900,000 investment compared with the same value from the beginning of the global shut down.
| Currency | Symbol | Mar-1 | Aug-1 |
| U.S. Dollars | USD | 900,000 | 900,000 |
| South African Rand | ZAR | 14,103,125.1 | 15,522,219 |
| Indian Rupee | INR | 64,958,275 | 67,708,620 |
| Euro | EUR | 816,373 | 766,670 |
| British Pound | GBP | 701,987 | 690,422 |
| Brazilian Real | BRR | 4,028,785 | 4,780,170 |
The EB-5 program has been wildly popular over the past decade because of the freedom each investor has to create a life in America that fits their own family’s needs and dreams. Now, the program is as attractive as ever. Some key benefits of the EB-5 Program include:
- Investors receive an expedited green card for themselves and dependent children under 21.
- The boost the US economy receives through EB-5 investments translates into employment for newly created or saved jobs, in turn making the US government protective of EB-5 investors and their funds.
The EB-5 investment program remains the most attractive option for individuals and their families looking to quickly receive a green card. If you are considering the EB-5 program or think that it may be a good fit for you and your family, we encourage you to reach out to us at info@ctp-fl.com for more information.