EB-5 program, dubbed as a Golden visa program, which provides an expedited path for wealthy foreign investors to gain admission to the U.S. The program, first devised during the George H.W. Bush administration, rewards foreign investors with a path to citizenship if they put money into a job-creating economic development project.
The EB-5 category is one of the most difficult categories under which to establish eligibility, and absolutely the most expensive. It is well worth paying for a consultant who can provide with a legal advice before taking any significant steps toward applying for this investor visa.
Regional centers are designated and approved by U.S. Citizenship and Immigration Services (USCIS), and are set up to take-of the requirements for the conditional EB-5 Visa. Investors must be careful to choose a regional center that can actually deliver on its promise the unconditional green card.
If you try the application once on your own and fail, you may damage your chances of success in the future. What’s more, because you are expected to make the investment first, and apply for the green card later, you could waste a lot of money.
At times applications are rejected that is partly because the eligibility requirements are narrow, and partly because of the category’s history of fraud and misuse. Some lawyers counsel their clients to use their wealth to fit themselves into another category with a greater chance of success.
As long as you have money to invest and can demonstrate that you are in the process of investing it in a profit business, you yourself do not need to have any particular business training or experience. Nor does the law prohibit entry to applicants from certain countries, although the immigration authorities are more suspicious when dealing with applicants from countries that have exhibited a pattern of fraudulent applications.
- The investor can choose to invest money in a business anywhere in the U.S., but until the unconditional green card is issued one must maintain their investment and must stay actively engaged with the company where the money is invested in.
- After the unconditional green card is issued, the applicant can work for another company or not work at all.
- Applicant must actually live in the U.S. and not use the green card only for work and travel purposes.
- The spouse and unmarried children under the age of 21 can get green cards for accompanying relatives.
There are two different ways to get an EB-5 Visa. Most people invest in a regional center, which is an organization that runs a business that creates jobs. This is attractive to most investors because they do not have to create their own business, and the required dollar amount of the investment is usually only $500,000, instead of the $1 million that may otherwise be required. When $500,000 is enough to get an Investment-Based Green Card in other words EB-5.
An EB-5 visa can be acquired through direct investment in the own business. An initial investment of $1 million in creating a new U.S. business or restructuring the one that already exists. The investment amount is lowered if the business is located in certain areas where unemployment is high.
- USCIS will look at where you got the money for your investment, to make sure it was from a lawful source. You’ll need to provide evidence, such as salary, investment, Sale of legally obtained assets.
- The EB-5 application will wait in a queue at USCIS for approximately 8-18 months. Current average time is 15 months per USCIS.
- The Immigration and Nationality Act (INA) set annual limits on a number of immigrants allowed to enter the United States.
- A number of foreign nationals who wish to come to the United States as investors exceed the 10,000 EB-5 Visas issued annually. The created backlog paves way for a waitage for the EB-5 visa, as there are many more qualified applicants than there is space. Despite the increase in the number of applicants every year and If you believe that you have what is required to acquire this visa then don’t waste any time.
Contact the experts at Y-Axis today to understand what you need to do about this visa.
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