US-based private equity firm Atlantic American Partners is set to receive applications worth Sh1 billion from Kenyans wishing to migrate to the US.
The firm’s Managing Director Daniel Ryan confirmed that already over 20 Kenyans had initiated the process of acquiring the Employment-Based Visa (EB-5 Visa) issued to investors with Sh50 million worth of investments in American.
The MD added that most of the applicants want to have their children school in the US with already three of the applicants having cleared their payments.
“There are three requirements for those wishing to get the visa. One, you must pass the international background check. Two that you have documented the source of funds that you legally have five hundred dollars to invest and three that you have no criminal background,” Ryan said.
Investors in the EB-5 visa can invest in either a US business or a real estate project that can generate at least ten permanent jobs.
The MD further added that the firm would be signing at least 25 Kenyans by the end of this year with the US issuing 10,000 such visas annually.
The EB-5 visa was created in 1990 under the administration of the late US President George H.W. Bush to stimulate the country’s economy through job creation and capital investment by foreign investors.