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Owning a Dental Practice or Working as an Associate: What suits you?
The October 2022 Visa Bulletin shows significant retrogression in the EB-2 category for individuals born in India. The EB-2 India Date for Filing has been retrogressed by more than two years, from December 1, 2014, to May 1, 2012. Due to the increasing demand and anticipated decline in visa availability for the India EB-2 category in the Fiscal year 2023, the retrogression was undertaken in an effort to keep visa usage within the maximum authorized by the Fiscal year 2023 annual constraints.
This disappointment leads many to question, “What’s next?” and most found the answer as “EB-5”
The EB-5 Immigrant Investor program is a fast track to permanent residency in the United States. If you have the financial incentive and the entrepreneurial spirit, owning your dental practice can be one of the most rewarding investments you’ll ever make.
The EB-5 program offers foreign investors two paths: 1) Through direct investment in commercial property, or 2) Through a joint venture investment with an existing entity that operates in a designated industry through Regional Centers(RC).
Regional centers are a go-to choice for many EB5 seekers since it offers a minimum of $800K investment. But A lot of regional centers are now amid confusion with the policies since it’s not looking forward to accepting fresh investments. If you are a dentist, with EB-5 Doctors you can own the establishment with as little as $200K investment.
Dental care is a growing industry, and there are many opportunities for those who have the talent, drive, and financial resources to succeed in this field. EB-5 Doctors Group, caters exclusive EB-5 processing support for dentists and doctors across US .
Does owning a dental practice suits you?
If you want to be your own boss, owning a dental practice would definitely suit you.
You can set your own hours and work on your terms without any interference from someone else. Your practice can also grow on your terms as you can add more services or staff members to it as you wish. You will also be able to take time off whenever you want without affecting your business. On the other hand, working as an associate before becoming a permanent resident will lead to uncertainty in the stay in the US and also getting a green card. Finding a company willing to sponsor your Green Card application by providing you with admissible employment is the first step. This could be the employer you previously worked for while in possession of an H1B visa, or you’re free to look for a new job. But for an EB-5 application No visa sponsorship is required and instead of working as an associate, owning a dental practice may be safer if you want to get a green card quickly.
Most dental associates work under B2B model in USA since they work under the umbrella of larger companies. But if you want to work decide your own terms and career goals, working as an associate is not a better way than EB-5. You may have a lower income in the beginning but less risk of being fired. There are no limits on how many patients you can treat each day unlike working for a company. Essentially, the more hands-on experience you have, the higher your salary will be.
Be Your Own Boss
Everyone aspires to be their own boss, but only a select handful are successful in doing so. This is due to the fact that most people lack the resources or expertise necessary to invest in niche domains. However, if you want to start your own dental practice and along with getting a green card, then EB-5 program could be an ideal choice.
The EB-5 program is not only useful for immigrant doctors looking to become permanent residents but also for those who want to start their own dental practice. Choosing between being your own boss or having more security in life may depend on which route suits your needs best. Working as an associate has its share of advantages and disadvantages compared to owning a dental practice. It all depends on how much you value being your own boss or having security in life.
One of the main benefits of owning your own dental practice through EB-5 investment is that you will be able to achieve more earning potential. The average annual income of a dentist is $200,000. If you are able to increase your revenue by 10% every year, your income will increase to $210,000.00 by the time you have been in business for ten years. This means that you could earn over $2 million during the course of your career.
Tax benefits are one of the most important advantages of owning a dental practice through EB-5. Like most dentists, you likely pay a sizable amount in taxes each year. You might be surprised to learn that some of it can be lawfully saved. All business owners, including dentists, are allowed to deduct their expenses on their federal tax returns. This entitles them to deduct all of their expenses from their taxes. Additionally, it enables them to deduct their expenses from their business income, maximizing their profits and lowering their tax liability. It’s a great approach to cutting expenses and taxes.
Illustrating the importance of equity building is an inevitable perspective in an entrepreneurial journey. Most US dental setups make a good reputation but a few manage to stay in the market for a long term. But with proper support from the experts and mentorship, an EB-5 dentist might not have to worry about staying in the market to build equity from a successful business.
Started to think EB-5 could be a better choice than EB-2? We got you covered.
Having your dental office will give you more control over your schedule and work environment. You will have more flexibility in choosing how to spend your time and energy. You will be able to work with other professionals who share your interests and skills. Many investors with an EB-5 visa have the freedom to live and work anywhere they choose.
Owning a dental practice is not easy though; it takes time, dedication, and a lot of hard work. If you want to become an owner of a dental practice then EB-5 Doctors can help you fulfill your dream.
This article is for educational purposes. In case of questions please reach our team.
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