EB-5 Investor visas Immigration – Frequently Asked Questions
The EB-5 program was created to serve two main objectives: to create employment for the United States workforce, and to give a chance to foreign investors to be legal permanent United States residents. The EB-5 visa gives foreign investors and their families a chance to work, study and live in the United States without many restrictions.
About three thousand green card allotments are reserved for interested parties willing to inject from $500,000 to $1,000,000 into the American economy every year. Below are some questions frequently asked by clients interested in the EB-5 visa program.
- Who Is Eligible For the EB-5 Visa?
Anyone with the required $500,000 to $1,000,000 investment fund is suitable to apply for the EB-5 visa provided that the funds presented for investment were acquired legally. $500,000 is directed to the targeted area employment area which adds up equally as a set requirement.
- What Is “Targeted Employment Area”?
A targeted employment area is a geographical region that has experienced huge unemployment rates of about 150% average that of the national rate. According to officials, out of 10,000 visas available for investors, 3,000 go to targeted employment areas to help curb the unemployment rates in the country.
- Who Should I Invest In An EB-5 Regional Center?
Anyone can invest in an EB-5 regional centre regardless of profession, race, and nationality. If your goal is to eventually become a permanent resident without necessarily managing the business, then utilizing the regional centers would be an ideal option for you. It is often convenient and less expensive to invest in regional centers as funds are injected into active projects without the need to follow up.
- How Long Does It Take To Obtain A Green Card After The Application?
It takes about 18 months for the investor to receive a conditional green card. It will take six more months for an applicant to obtain the approval for an I-526 petition. This applies to both petitioners living within the country and overseas. Following the approval of the adjustment of the application, the investors will receive conditional green cards.
- What Is A Conditional Green Card?
A conditional green card is a temporary alternative green card valid for two years. An EB-5 investor receives a conditional green card to help him/her live with limited restrictions before receiving a permanent green card that comes without conditions.
- Are The Restrictions On The Type Of Business One Plans To Set?
Any business formed from 1990 is eligible to qualify for the process. The business may be a startup that shows it will thrive in the near future or purchasing of an existing business. Also, expansion of a business or saving of a failing business is considered. The business must create full-time employment opportunities for at least ten United States citizens or legal permanent immigrants. The ten positions must be unrelated to the investor; this includes the investor’s spouse or children.
- What Information and Documentation is Required?
The applicant must provide his/her professional background with a complete proof of source of the investment funds. A resume with verified copies of college diplomas or any other educational certificates should be attached. It is also advisable to add the memberships of any professional group one may be participating in, as it solidifies one’s professional grounds. Unless the sponsor wholly inherited the funds rightfully, one must be in a position to present proof of professionalism that explains the net accumulation of wealth and well presented in the financial information.
Sources of funds for investment must be legally acquired. They include; profits from sales of stocks, bonds, and legal property, profits from a business, inheritances and gifts. To prove the source of funds required, the United States Citizenship and Immigration Services must go through an applicant’s five years of tax returns, proof of ownership of the enterprise and consequently, five years of bank statements.
All documents are required by the board to be presented in an affidavit format and written in proper English. The attorney will help you with that.
- May Two Or More Investors Successfully Qualify For The Visa Based On A Pooled Investment In A Single Enterprise?
There is no stipulated limit to the number of investors required to fund a business provided each investor meets the minimum threshold. The number of jobs created must be equal to ten times the number of investors. In such a case where five investors each inject $1,000,000 in a venture, they can qualify for the visa if a total of fifty job opportunities are created in the pooled venture.
- Is The Investor Free To Travel After Receiving The Conditional Green Card?
The foreign investor is allowed to travel in and out of the United States similarly to the permanent residents. However, the investor must have permanent residence in the country and must not be out of the country for a constant period of one year.
The EB-5 visa application can get lengthy and exhausting while most make mistakes during application hence lowering the success rates of the application. Contact us at RunRex.com for professional guidelines during the application.