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Using your South African Investment Allowance to gain American Residency

Did you know that you can invest up to R10 million a year off shore?  Did you know that this offshore investment could be applied towards a guaranteed American Green Card and permanent American residency for both you and your immediate family?

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South Africans can participate in the USA’s EB-5 program that, through investment in American construction projects, leads to American Permanent Residency.

You can invest up to R10 million a year in the USA and claim a Green Card

An investment allowance, known as the Discretionary Allowance (DA), may be used by South African citizens for foreign investment without having to obtain tax clearance (a tax number is required).  The allowance may also be applied for purposes of travel, gifts, loans, studies and alimony.

A tax-payer in good standing and over the age of 18 years, can invest up to R10 million per calendar year in an offshore enterprise or project.  In this case you would have to obtain a Tax Clearance Certificate (in respect of foreign investments).

On top of the R10 million an additional R1 million, within the single discretionary allowance facility, can be transferred abroad, without the requirement to obtain a Tax Clearance Certificate (TCC).

Should you wish to transfer more than R10 million your bank must submit an application to the Financial Surveillance Department of the South African Reserve Bank for approval.  A Tax Clearance Certificate, in the prescribed format, must always accompany the aforementioned application.

One of the perks of investing in the USA’s EB-5 program is that it leads to American Permanent Residency, or a Green Card.

What is the USA EB-5 program?

Under this program, entrepreneurs (and their spouses and unmarried children under 21) are eligible to apply for a green card (permanent residence) if they:

  • Make the necessary investment in a commercial enterprise in the United States; and
  • Plan to create or preserve 10 permanent full-time jobs for qualified U.S. workers.

How much are we talking about?

The American congress created the EB-5 Program in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors.  An Investment of $500,000.00 (roughly R7.5 million) secures you and your family a Green Card. You also likely to receive your investment back after five years.

You will be investing in the Florida Growth Equity Fund Regional Centre – Mainly in the Assisted Care Living space meaning your money will be used to develop old age facilities and create 10 US jobs in the process. We selected this specific Regional Centre because they deal mainly in this space which is heavily subsidized by the US government meaning there is added security to your investment.

The New World Immigration team of immigration professionals is happy to share their knowledge and explain the EB-5 program process to you. 

Benefits of having an American Green Card

Besides the obvious access to a first world country and the second largest economy in the world, if you are in possession of an American Green Card you will be allowed to work, study and conduct business anywhere in the US.  You will be allowed to access medical care, own real estate and enjoy almost all of the same benefits and rights as any American citizen.

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What about the tax red tape?

SARS requires certain conditions to be met before a Tax Clearance Certificate is issued. These conditions are that:

  • the taxpayer must have registered for income tax prior to applying for a TCC
  • the taxpayer should have no outstanding debt for any taxes
  • any deferred arrangements made are being adhered to
  • all returns and/or declarations are up to date
  • all tax reference numbers must be active and correct

The good news is that being a team of experienced and trained professionals New World Immigration, and its authorised financial partners, can arrange for and expedite your tax clearance certificate.  In most cases you will be issued with your clearance documents within 5 to 7 working days.

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South Africa USA EB-5 investor off shore invest