The EB5 green card offers a unique way for immigrants to obtain a visa to live within the United States permanently. This Immigrant Investor Visa was established in 1990 under the immigration act. Under this program a foreign national who invests at least $500,000 and creates 10 jobs will qualify for the Eb-5 Investor Visa. There are certain restrictions that apply in order to qualify for this type of visa and they all must be met in order to obtain citizenship status.
Investment Requirements
In order to be eligible for an Eb-5 Green Card, a person must invest at least $500,000 into an area that has a high unemployment rate. The rate of unemployment in the area must be at least 150% of the national unemployment statistic average. The source of investment funds must be revealed and come from a legal source. There will be extensive background checks in order to determine where the money is coming from. The investor will need to show proof of the income’s legitimacy through paperwork and tax records. This pattern of income should be shown for at least the past five years in order to be considered and to meet the regulation requirements.
Requirements for Job Creation
With the initial investment of $500,000, an EB5 green card applicant must also provide proof of at least 10 United States jobs being created. There are designated regional centers that allow these jobs to be created through both direct and indirect means. When investing, a person may choose a business that is not at an approved regional center. If this is the case the EB5 green card applicant will need to show proof that the jobs are created and related directly to the company or entity the investment has been made in. The investment that is made must meet federal guidelines for being “at-risk.” This means that the investment is truly equity in a business and not simply a loan.
Privileges of the EB5 Visa
If a $500,000 investment is something that is attainable, this route to a green card is well worth consideration. This type of visa is a choice for foreign students, business professionals, retirees, and professionals. The EB5 visa offers many benefits to the holder. Perhaps the most important aspect of the EB5 visa is the fact that it offers a direct route to obtaining an EB5 green card. This gives permanent residency for you, your spouse, and your children that are under the age of 21. Under this program an individual will be able to work, live, and retire anywhere in the country.
A person holding an EB5 green card will be eligible for United States citizenship after only five years of holding the card. This route to obtaining citizenship offers a person more freedom within the country as there will be no day to day business management of their investment, there are no backlogs for quotas, and as the investor your own funds are being used to obtain citizenship which means there is no sponsor required for approval.
