Business Traveller (Middle East)
Accessibility to the American Dream
An attainable immigration journey for residents of the Middle East to the United States
The prominent term the ‘American Dream’ was first coined in 1931 and has been widely used for the past nine decades to convey a message of hope for all Americans, especially those that are new immigrants to the United States. The American Dream entails access to quality higher education, to innovative healthcare, and to a high standard of living. It is the promise that any immigrant, no matter their nationality or their socioeconomic background, can prosper in the land of opportunity, through hard work and perseverance, that has for so long kept up the demand for access to America.
Holding the record for having the highest number of immigrants, the United States has, for decades, stood the test of time as one of the best countries to which foreign nationals from around the world can immigrate in pursuit of a better life.
The resiliency of America has been tested in the past during dark times as they pushed through World Wars to emerge as the pre-eminent superpower.
The position of the United States as the world’s dominant power is likely to continue due to the size of its wealth, the U.S. economy’s efficiency, its military capabilities, and its presence and influence around the world.
A significant indicator of the health of the U.S. economy is the declining unemployment rate and the speed with which the U.S. labour market recovered after the Q1 2020 decline due to the pandemic. According to a report published by the Bureau of Labor Statistics of the U.S. Department of Labor, the unemployment rate fell by 0.4 per cent to 4.2 per cent in November 2021.
The number of unemployed persons fell to 6.9 million, which is a considerable improvement compared to the 22 million in April 2020. The decrease in unemployment rate is attributable to the American work ethic, the educated base of the U.S. population, and access to modern medicines that made it possible for the country to bounce back economically.
AN INNOVATION LEADER
As can be seen from the resiliency of the U.S. labour market during the pandemic, the concept of the American Dream will persevere through challenging times. The United States is the world’s leader in innovation and technology. The largest technology companies in the world, such as Google, Apple, Meta (formerly known as Facebook), and Microsoft, were started in and have their headquarters in the United States.
Located in Northern California, Silicon Valley is famously known as the innovation hub of the world. The venture capital financing model for start-ups of Silicon Valley has been used globally to foster high-tech innovation. As the number-one most technologically advance country in the world, the American Dream will continue to attract young and intelligent talent from around the globe looking to foster their own American dream. If California were a sovereign nation, it would rank as the world’s fifth largest economy, ahead of the entire country of India, ahead of the United Kingdom and just behind Germany. This technological utopia remains the pre-eminent destination for opportunity.
THE EB-5 PROGRAMME
Given the many strengths of the United States, foreign nationals have for decades been in pursuit of access to America. Since the inception of the EB-5 Immigrant Investor programme in 1990, many foreign nationals have immigrated to the United States by way of investment.
The EB-5 programme was created by Congress as part of the Immigration Act of 1990 to stimulate the U.S. economy through job creation and injection of capital investment by foreign investors.
The programme provides investors the opportunity to obtain Green Cards for themselves and their qualifying dependents, including spouse and unmarried children under 21 years of age, by investing $500,000 in a new commercial enterprise in the United States, usually in government pre-approved projects.
They would invest, file their applications, expect an approval in about 16 months, and with the expectation of receiving their investment back after a period of about five or six years later. The core requirements of the EB-5 programme are that a minimum of 10 jobs must be created for U.S. persons for each foreign investor’s EB-5 application and the source and path of funds used for the investment must both be lawful.
EB-5 PROGRAMME BENEFITS
There are many reasons why foreign nationals, including residents of the Middle East, choose to partake in the EB-5 programme as part of their immigration journey to the United States. Top reasons include access to better healthcare, quality education, economic stability, and great career opportunities.
1 Healthcare
With 80 per cent of the best hospitals in the world being located in the United States, the country offers its residents a top-quality healthcare system. The hospitals in the country are well funded and have world-leading medical innovation and advancement ensuring that patients receive the best care and treatment. The United States has control over 45 per cent of the world’s pharmaceutical market.
Home to six out of the top 10 pharmaceutical companies globally, the pharmaceutical industry in the U.S. is among the most successful with leading-edge technologies. For instance, three of the COVID-19 vaccines widely used around the world (Johnson & Johnson, BioNTech-Pfizer, and Moderna) are developed by U.S. pharmaceutical companies. U.S. pharmaceutical companies played a pivotal role in the development of COVID-19 vaccines and the U.S. population were among the first to have access to the vaccine. Therefore, many foreign investors seek to immigrate to the U.S. to ensure that their family members and children have access to top quality healthcare.
2 Education
Similar to its healthcare system, the United States is an education leader, with eight out of the 10 top universities being U.S. institutions. It is a wellknown fact that the academic institutions of the United States offer high-quality education.
The number of international applicants to U.S. institutions is on the rise with foreign students seeking to take advantage of all of the benefits that a U.S. degree and education provides. U.S. universities outperform those of other nations, not only because of the higher quality of academic life, but also because of the higher standard of living that is offered to students and the encouragement to participate in other aspects that will lead to their professional and interpersonal growth.
“Each wave of immigrants that have come in have been able to assimilate, integrate and then rise up and become part of this great American Dream.” FORMER U.S. PRESIDENT, BARACK OBAMA