Given the difficulty of applying for a visa in the United States, people will look for any channel that is available in order to successfully work and live in the country. One of the easiest and fastest ways they can become an American citizen is through an EB-5 visa.
In order to qualify for an EB-5 visa, you need to meet certain requirements which could include the following:
1. Investment Amount
An EB-5 visa applicant will usually be required to investment a minimum of $500,000 or $1 million. It can come in the form of cash, inventory, equipment, secured indebtedness, tangible property, or cash equivalents which is valued on the fair market value. $500,000 is invested if the business is located in a targeted employment area (TEA). To qualify as a TEA, the project must be done in a rural area or territory with high unemployment. Otherwise, the amount of investment will be $1 million.
2. Job Creation
For EB-5 , the required number of jobs that should be generated should be 10 full-time jobs for U.S. employees. The jobs should be created within two years after the investor has been granted their conditional permanent residency. In some cases, they must show that their investment resulted to job generation directly within the commercial entity that received the investment.
3. Business Entities
Applicants for an EB-5 visa must directly invest in a commercial enterprise or in a regional center. Older businesses can be qualifiesd as long as the investment can generate a 40-percent increase in the number of employees or net worth. Investing on a regional center-run project offers more benefits than investing in a new business since you do not have to set-up the project.
When applying for an EB-5 visa, you will need to file two petitions with the United States Citizenship and Immigration Services (USCIS). The I-526 petition should include the following:
- Proof that the source of funds comes from a legitimate source
- Evidence that the accumulated wealth is enough for an EB-5 investment
- Proof of fund transfer to the Regional Center’s escrow or project account
- Copies of passports for every family member on the petition
- Documents related to the education and employment background of the petitioner
- Birth and marriage certificates for all members of the family
- Additional information required on a case-by-case basis
Next, the applicant will file a separate I-829 petition which should include the following:
- Proof of investment amount
- Evidence that the funds were invested in the project and “at-risk” at the time the I-829 was filed
- The commercial entity created or is expected to generate at least 10 full-time jobs
- Once the I-829 petition is approved, the investor and their family members will get their green cards.
An EB-5 visa allows an investor to easily apply and get approved for a US green card.Read More