What are the requirements for EB5 Green Card?

admin November 4, 2022 0 Comments

What are the requirements for EB5 Green Card?

EB5 Green Card: If you are a businessman and planning to start or purchase your business in the United States and want to live there permanently, then an EB5 visa is your answer. The EB-5 Immigrant Investor Visa is for those people who want to invest or start a new business in the USA.

Entrepreneurs, investors and business owners can apply for an EB-5 Immigrant Investor Visa. A minimum amount of $1,800,000 is required to invest in the US for EB-5 Immigrant Investor Visa.

Just know about EB5 Green Card:

Candidates who are able to invest this sum are qualified to apply for this visa. However, in case the investment is for an economically depressed area, also known as a ‘targeted employment area’, the invested amount can be reduced to $900,000.

Investment is not the only thing in this category. The creation of jobs for US workers is also required. The applicant needs to create ten full-time jobs for US workers along with the investment.

The investments which create jobs are eligible under the EB-5 Immigrant Investor Visa. Investments such as real estate are not considered eligible for this. Also, the business must be commercial and generate profit. Non-profitable businesses are not eligible either.

The investments for EB-5 Immigrant Investor Visa can be made direct or through a regional centre. Regional centres are the specialized companies which gather the funds from various investments and then invest them in one large project such as resorts or complex buildings.

While in the case of direct investments, you either start your business or purchase an existing business in the United States.

The successful applicants for The EB-5 Immigrant Investor Visa will also get a green card. This also includes the family members of the applicant mentioned. Your spouse and dependent children will also get the Green Card.

The Green Card process under EB-5 Immigrant Investor Visa is a 2 step process. Firstly for two years, you become a conditional permanent resident, and after two years, you can remove the condition by providing the ten jobs created for US workers. Also, you need to prove that you have successfully invested the initial capital in the business during this time.

The government plans to issue 10,000 green cards under this category every year, but the number of successful applicants is always below the cap. It has a very complex legal process and requires documentation which is large in number. The advantage of this visa is its speed.

Requirements & Eligibility for EB-5 Immigrant Investor Visa: The main requirements for an EB-5 Immigrant Investor Visa are listed below.

An investment of a minimum amount of $1,800,000 is required for an EB-5 Immigrant Investor Visa.

For ‘targeted employment areas (TEA), the invested amount can be reduced to $900,000.

The business must be able to generate profit and should be able to create ten permanent full-time jobs for US workers.

The invested funds must be earned or obtained through legal means, and you must prove the source to be legitimate.

The investment should be active in nature means you actually need to buy or start the business in the US for EB-5 Immigrant Investor Visa. The invested capital will be at risk, and it’s also possible to lose the invested capital.

The investment must be for a new business. Either you start your new business, or you purchase a business and start as new.

By meeting these criteria, you are eligible for an EB-5 Immigrant Investor Visa. Although the process contains complex legal procedures, it is a fast way to permanent residency in the US.

You can hire a qualified lawyer which will help you with complex legal matters. The petition should be filed at the United States Citizenship and Immigration Services (“USCIS”).

You are also required to submit related documents like immigration forms, financial information and your business plans. Also, you need to submit the legal brief to meet all the requirements along with other required supporting documents.

Application Process for EB-5 Immigrant Investor Visa: The application process for EB-5 Immigrant Investor Visa involves the following steps:

Choose a suitable project for investment.
The next step is to invest the capital in the project, and at the same time, your lawyer will file the I-526 Petition.
Provide the requested information to the US Government.
In the next step, you can apply for a conditional Green Card.
After a period of time, you can ask to remove the conditions from the Green Card and apply for an I-829.

Summary:

The pathway for permanent residency in the US.
A minimum investment of $1,800,000 is required.
In the case of ‘targeted employment areas (TEA), the investment can be $900,000.
It's a complex process which needs expert legal advice.
It's a fast process.
The creation of 10 full-time jobs for US workers is required.