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ILW.COM EB-5 Blog

Wealthy Mexican Immigrants Make Big Investments in Dallas

Rating: 3 votes, 5.00 average.

New waves of Mexican immigrants have come to Dallas, referring
to themselves as "migrantes fresas,"
or high-end migrants. They are trying to distinguish themselves from prior
groups of Mexican immigrants moving to the region. These are not migrant farm
workers, but wealthy investors seeking business opportunities and safer lives
for their families.


 


The EB-5 program, a visa category created by Congress to
stimulate economic growth through foreign investment and domestic job creation
in 2000, has facilitated what some are calling an exodus of the Mexican Elite
to the United States.


 


The global economic downturn has affected Mexico with slowed
job growth and fewer opportunities, it appears to be the combination of
powerful drug cartels and corrupt government officials that have contributed to
the ouster of the elite. Since 2006, an estimated 60,000 people have been
killed according to the National Citizens Observatory (a non-governmental
group) and over 20,000 have gone missing. Despite a drop in the drug-related
killings, homicide and extortion are still on the rise.


 


To find safety and security for their families, the wealthy
are increasingly turning to the EB-5 program to relocate.


 


To participate in the EB-5 program, foreign entrepreneurs
must invest $1 million into a new economic enterprise and create at least ten
jobs for U.S. citizens, in exchange, the investor and their dependants will be
granted permanent resident status. A frequented alternative route permits the
investor to finance $500,000 into a "targeted employment area," or an area with
high unemployment, particularly rural zones. 
Regional centers, which are often located in targeted employment areas,
are third-party investment vehicles that have received designation from the
United States Citizenship and Immigration Service (USCIS).


 


Since 2006, the city of Dallas has taken advantage of the
EB-5 program and established a regional center to attract foreign capital into
local business development. Due to its close proximity to Mexico, the ease of
travel between locales with some 20 daily flights, a good quality of life, and
growing sophistication of the area, Dallas presents an attractive place for
wealthy Mexicans to invest their capital and move their families.


 


While the EB-5 program has helped grant visas to immigrants
hailing from many counties--predominantly Asian countries--in Dallas, Mexico is
rapidly growing as a key group of investors.


 


The City of Dallas Regional Center (CDRC) received approval
from the USCIS in 2006. Along with Civitas Capital Management, CRDC oversees
new investments in the city and have worked with over 200 investors to bring
some $119 million into the city. The projects have ranged from the NYLO hotel
to a nursing home for low-income patients.


While Mexican investors are relocating to other cities such
as San Diego, CA, El Paso and San Antonio, TX, fans of the area are praising
Dallas' sophistication, glitz, and business potential as the real draw for the
elite.


 


For more news and updates about the EB-5 program, visit EB5investors.com.  

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