If you’re an entrepreneur looking to move to the U.S to conduct business, then an EB-5 visa might be your best bet.
The EB-5 visa grants you permanent residency in the U.S – but it comes with a catch.
In order to receive a US EB-5 visa, you must invest a significant amount of money in the United States. So if you’re an individual with close to a million dollars to spend on moving to the U.S, here’s a comprehensive look at the EB-5 visa.
What Is An EB-5 Investment Visa?
The EB-5 investor visa was established by the Immigration Act of 1990 of the United States Congress (IMMACT90).
The EB-5 program was created by Congress to help the American economy by allowing foreign entrepreneurs to permanently reside and conduct business in the United States after investing in a commercial venture within the country.
Based on the 2019 reforms of the EB-5 program, to qualify for this visa, you must invest at least $900,000 in a US business and generate at least ten jobs in the United States.
If you qualify for the EB-5 Visa, you will earn a Green Card and be able to live in the United States. The visa granted also covers your dependent family members. This implies your spouse and children can also acquire Green Cards.
Ways To Invest To Qualify For The EB-5 Visa
There are two types of investments that qualify you for an EB-5 visa. Here’s a look at them;
Investing $900,000 Or More In A Targeted Employment Area (TEA) Or A Regional Centre
It involves investing in a government-approved initiative in a rural region called a regional centre or an area with a high unemployment rate.
The U.S. Citizenship and Immigration Services (USCIS) operates a number of regional centres around the country with the goal of promoting economic growth in those areas.
If you invest in a TEA, you must show that your investment has directly or indirectly produced at least ten employees.
Indirect jobs are those created as a result of a commercial enterprise’s investment, but the individuals recruited work for other businesses. These might be positions in the business enterprise’s supply chain.
Investing Directly In EB-5 Projects Outside A TEA
This is the second way to qualify for an EB-5 visa. When you make a direct EB-5 investment, you can either build your own firm or acquire an existing one in the United States. Because the investment exceeds the U.S.
Citizenship and Immigration Services (USCIS) approved TEA, you will need to make a higher investment, at least double the amount. This means the investment must exceed $1.8 million.
You must also demonstrate that your investment/business directly created at least ten new jobs, and you must be a shareholder in the company.
What Is The Process For Applying For An EB-5 Visa?
Form I-526, which is essentially an application for an Investment Visa, is used to submit your application to the USCIS for the EB-5 Visa.
You should monitor the USCIS website for any changes to the address where you must submit the form.
The application is reviewed by the USCIS and sent to the National Visa Centre for processing (NVC).
The NVC will then contact you and request that you pay the costs and provide the necessary papers. The NVC also tells you where to pay your charge and how to do so.
You will then fill out an application for an immigrant visa and go to the US Embassy for an interview.
The NVC will notify you of the location, date, and time of your interview, as well as the papers you need to bring. The US Embassy will issue your Immigrant Investor Visa if all goes as planned.
You apply for an immigrant visa and go to the US Embassy for an interview. The NVC will notify you of the location and time of the interview, as well as the papers you need to bring.
The US Embassy will issue your Immigrant Investor Visa if all goes according to plan. If you are already in the United States, instead of filing at a US Embassy, you must petition for adjustment of status (Form I-485) with the USCIS.