The EB-5 immigrant investor program from the USCIS offers new avenues for citizenship, which might appear more than enticing to foreign nationals looking for a quick route to becoming Green Card holders. The EB-5 visa has helped tens of thousands of immigrants come to the US and is a promising option for investors who have the money to invest in an American business. With an investment of $800,000 – $1.05 million, an investor can forge a mutually beneficial relationship between the United States Economy and themselves. The money will be invested into creating jobs for qualified United States workers within an established American business. The immigrant investor will then be granted a visa, with which they can reside in the U.S. during their Green Card naturalization application process.
The EB-5 visa was created to promote economic growth and to reduce unemployment in areas of high unemployment, thus increasing the value of immigrant investors. Since the United States government is likely to immediately benefit from immigrant investors with the EB-5 visa, it is more likely to grant these visas. For example, this program was one of many used to tackle Detroit's unemployment rate of 25% in 2009. That unemployment rate was lowered down to 7% by 2019, before the start of the covid-19 pandemic.
It is important to understand the necessary requirements for obtaining an EB-5 visa, as the guidelines are rigid:
- Firstly, the foreign national will have to choose between making a direct investment amounting to $1.05 million in a US commercial enterprise outside the Targeted Employment Areas, or an investment amounting to $800,000 in the Targeted Employment Area
- The Targeted Employment Area (TEA) refers to rural, high-unemployment areas that are 150% below the national average unemployment rate
- Secondly, you will need to ensure that 10 jobs are created that pay market rate salaries, and that each employee is given upwards of 35 hours of work each week for a duration of at least 2 years.
- Thirdly, the investor will need to prove that the money to be invested came from a lawfully legitimate source. In order to do so, documentation will need to be provided regarding where the money came from, how it was made, and the people involved in making the profits. Usually, investors for this visa will provide personal tax returns—as well as business tax returns, bank statements, documentation of sold property, and business registration documents to prove that the money was ethically sourced through legal means.
- While no country is restricted from the EB-5 immigrant investor program, countries which are sanctioned by OFAC may have difficulties proving that the money is legitimately sourced if it comes from an OFAC sanctioned government or group
- Lastly, the immigrant investor will need to provide a business plan for their proposed business to demonstrate genuine investment to a USCIS immigration officer.
The full list of requirements for the EB-5 immigrant investor program are available on the USCIS website and should be consulted in conjunction with this article.
That's all! With the EB-5 immigrant investor program, you can bring yourself, your spouse, and your children (under the age of 21) on an EB-5 visa.
If you are thinking about coming to the US with the EB-5 immigrant investor program, do not hesitate to contact Ramona Kennedy. Attorney Ramona Kennedy cares about your case and will fight for you.
It is advisable to seek legal guidance from our office today as we strive to help guide you with your specific case.
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