Clock ticking on US green card property deal
South Africans have a limited window of opportunity to cash in on the ‘citizenship by investment’ programme of the US government at the current $500,000 threshold
First it was Mauritius. Then came Portugal, Malta and Cyprus. And now it’s the US that is becoming a destination of choice for wealthy South Africans looking to obtain a second passport through a property purchase.
About 300 SA families have apparently already applied for a green card by investing $500,000 in real estate projects in dedicated areas — known as targeted employment areas (TEA) — across the US. But the minimum investment required by the US EB-5 Immigrant Investor programme will nearly double to $900,000 on November 21.