Immigrant Investor EB5 Visas
The purpose of investor based immigration is to attract foreign investors who will stimulate the American economy through their investments by creating jobs for U.S. workers. The type of visa granted to foreign investors is called an EB-5 visa. As with all visas, certain legal requirements exist to qualify and the Long Island Law Offices of William A. Streppone provides the expertise necessary to guide you successfully through the legal process.
An EB5 visa enables you to obtain lawful permanent resident (green card) status. Every year, the United States Citizenship and Immigration Services (USCIS) offers 10,000 EB-5 visas to applicants meeting the qualifications.
If you have been hurt in an accident or by a product, you may be entitled to a cash reward. It is important to have an attorney who understands your legal status in the United States guide you through these types of cases while protecting your rights so you receive the compensation you are entitled to.
EB5 Visa Requirements
Requirements for an investor visa are based primarily on finances, job creation and business type:
Financial requirements. Generally, visa applicants must have the wherewithal to invest a minimum of $1 million into a business. Exceptions to the dollar investment amount are when the business is located in a rural area or when high unemployment is a factor in an urban area. Under such circumstances, the required minimum investment may be reduced to $500,000. To qualify as a high unemployment area, the state government must certify that the area’s unemployment rate is at least 150 percent of the national rate. Rural areas are defined as regions outside of metropolitan statistical areas or outside city boundaries where the city’s population is 20,000 or more people.
Job creation. Investors must create jobs for a minimum of 10 full-time U.S. employees. EB-5 visa holders have two years from the immigrant investor’s admission to the U.S. as a conditional permanent resident to meet the job creation requirement. Under certain situations, the two-year period may be extended for a reasonable amount of time.
Business type. Typically, the business must be a for-profit, new commercial enterprise. Business ownership can be a sole proprietorship, partnership, holding company, joint venture, corporation, business trust or other publicly or privately owned business. Under certain conditions, an investor can invest in a troubled business that has already existed for at least two years.