This archive report was first published on 23 July 2019.
Published on July 23, 2019, a US-based private equity company, Atlantic American Partners, has revealed that at least 20 Kenyans are in the process of acquiring US Employment-Based Visa, popularly known as EB-5 Visa.
The company's Managing Director, Daniel Ryan, said they have received applications worth more than Sh1 billion from the group of Kenyans seeking to migrate to the US, as reported by Capital FM.
The EB-5 Visa is issued to applicants who invest at least $50 million in American businesses or a real estate project that can generate at least 10 permanent jobs.
Introduced by the late US President George H.W. Bush in 1990, the EB-5 Visa aims to stimulate the country's economy through job creation and capital investment by foreign investors.
Atlantic American Partners stated that most of the Kenyan applicants are business owners who want to educate their children in the US. The company said three of the applicants have already paid the full amount.
According to Ryan, there are three requirements for those wishing to get the visa: passing an international background check, documenting the source of funds, and having no criminal background.
The company is looking to sign up at least 25 Kenyan investors by the end of this year, with the US issuing 10,000 such visas annually.
