Foreign nationals willing to invest between $500,000 and $1 million in the U.S. for the creation or preservation of at least 10 full-time jobs for qualifying U.S. workers through the creation of a new commercial enterprise, or investing in an EB-5 Regional Center or in a Targeted Employment Area can be eligible for a conditional green card, the first step in obtaining a U.S. citizenship status.
Those who qualify will be issued an EB-5 immigrant visa, also called the employment fifth preference visa. This EB-5 visa program or Immigrant Investor Program, is managed by the U.S. Citizenship and Immigration Services (USCIS); this program is aimed at helping fuel the U.S. economy through capital investment by foreign investors and job creation.
Unlike other employment-based (EB) visa programs which require educational and/or post-graduate degree, professional experience and, most especially, a job offer, EB-5 visa eligibility are very limited; in fact, according to the AmLaw Group, the only things necessary are the amount to be invested, that this amount is legitimately obtained, and meeting the “create 10 jobs” requirement.
As to where investment should be made, while the investor may choose freely, many of those who have already obtained permanent residency through this endeavor advise on making the investment in a Regional Center for the following reasons:
• Investing in an EB-5 Regional Center costs lower;
• Ensuring that the “create 10 jobs” requirement is met becomes the responsibility of the EB-5 Regional Center;
• By choosing a more stable and well run Regional Center, meeting the “create 10 jobs” requirement becomes more certain and faster; and,
• Allows the investor to do something else, such as practice his or her real profession.
The EB-5 Program has no minimum requirements for education, employment experience, English proficiency or age plus, once a potential investor’s proposal gets approved, he or she, with his or her spouse and unmarried children below 21 years old will receive a conditional Green Card, making them conditional permanent residents in the U.S. Despite the conditions, the investor and his or her family can enjoy many privileges, like getting employed, attending schools, and have residence anywhere. If, two years after the conditional Green Card was issued, the investor can prove that the “create 10 jobs” requirement has been met, he or she can apply for the removal of the conditional status in his or her Green Card.Read More