The Immigration Act of 1990 created a particular type of US visa known as the EB5 visa that applied exclusively to immigrant investors. Although this visa is scheduled to end in September of 2012, it is a method used for obtaining a "green card" for those foreign individuals who want invest funds in the US. Therefore, the EB5 is oftentimes referred to as an investment visa.
What is required to obtain an EB5 visa?
There are certain criteria or requirements that an immigrant investor must meet in order to obtain an EB5 visa. The person must be:
o creating or preserving jobs for at least 10 American workers (not including the investor or the immediate family of the investor) o investing $1 million overall o investing $500,000 in areas where unemployment is extremely high or an underdeveloped rural area (referred to as TEA or Targeted Unemployment Area)
The investment can be made in one of two forms. First, it can be made directly to a commercial enterprise that generates employment/jobs whether they are existing or new. Secondly, it can be made to a 3rd party managed investment group or vehicle for private or public means (i.e. a regional center). This 3rd party assumes the responsibility of creating the jobs that the funds are paying for.
Obtaining an EB5 visa
The EB5 visa (or investment visa) targets those immigrants who have an extremely high annual income or their net worth exceeds $1 million. In so many words, you and your family can become US residents by investing $500,000 or more in a business and creating a minimum of 10 jobs in the process (see all criteria above). Many immigrants today choose this type of visa when they are extremely affluent as it is the easiest way to obtain one.
The following are the steps that an individual needs to take in order to obtain an EB5 visa:
o On your computer, download the "Immigrant Petition by Alien Entrepreneur" (form I-526) and then completely fill it out. Be prepared by having the qualifying information necessary about your business and company.
o Take the I-526 form, the filing fee, and any supportive documents that apply to your business and submit these to the US Citizenship and Immigration Services department.
o Once the I-526 has been approved, you will need to fill out the "Application to Register Permanent Residence or Adjust Status" (form I-485) and submit that.
o Fill out the "Petition by Entrepreneur to Remove Conditions" (form I-829) and submit this within 90 days prior to the expiration of your 2-year period of residency in order to change your personal status to "resident without conditions."
The US Government anticipated that the use of the EB5 visa would exceed all expectations. However, it turned out to be far less than what the government expected. This lack of participation resulted from how onerous the application process was, adjudication periods that were far too lengthy, and the suspension of 900 pending applications for an EB5 visa.
Immigration Law - What to Expect at Your USCIS Interview (Adjustment of Status/Green Card Cases) Life-Saving Medical Treatment for Ailing Undocumented Aliens Is Available Prohibited Activities on a Visitor's Visa 55,000 Immigrant Visas for Foreign STEM Graduates How to Select a Good Immigration Attorney?
Thank you for sharing the information.
ReplyDeleteEB-5 visa is a boon to all the investors who want to reside permanently in USA and there are number of companies who are providing the service of investment visa or EB-5 visa and there is a company named as americanrcg.com who is providing the service of EB-5 visa for the foreign investors.