EB5 Visa Program: What You Need to Know
By: Stanley Hermosillo | Posted: 22nd November 2010
There are many visa entries available these days that will let you live your very much deserved “American Dream”. The EB5 Visa Program allows you and your family to work, live, and potentially retire anywhere in the ‘Land of the Free”. This article describes what you need to know in order to get this visa.
There are many visa entries available these days that will let you live your very much deserved “American Dream”. The EB5 Visa Program allows you and your family to work, live, and potentially retire anywhere in the ‘Land of the Free”. This Immigrant Investor Program is especially designed for businessmen and international investors who are willing to invest a large sum of money in new businesses that will help to create new jobs for the local Americans.
The program allows an individual and his/her family to earn a green card visa by investing in enterprising activities that will generate jobs for the American workforce. Getting a green card allows a person to be a permanent resident of the United States including the spouse and any children below the age of 21. The EB5 investment visa spares you of all the tedious requirements ordinarily associated with those having family connections, wanting to run a trade business, or secure a job.
This form of ‘pilot program’ requires a total of $500,000 worth of investment in high unemployment or rural areas in exchange for permanent residency. Individuals who are qualified under the program may apply for citizenship after five years.
The U.S Immigration Act of 1990 created this EB-5 Immigrant Program to attract foreign capital into the country and to create more jobs for the local people. There are around ten thousand slots available in this category each year, and half of this number is reserved for individuals who take part in the EB-5 Pilot Program structured for low employment states.
There are three fundamental requirements for obtaining an EB-5 Visa, namely:
An alien must invest in a current business or establish a business that has been established or restructured after November 1990.
An alien must invest at least one million dollars worth of capital anywhere in the United States of America. However, if investing in a USCIS-designated regional centre, the individual will only need to invest $500K.
The firm or business must be able to create at least ten full-time positions for American workers.
There are numerous businesses today which feature the EB5 Program. A few years ago, there were only about twenty regional centers operating across the country. However, through the years demand has indeed grown, and the number of business centers is increasing substantially. This shows that there are more people nowadays who are beginning to learn and understand the benefits of this visa program, and how they can help American businesses and workers. The majority of the centers that are approved by the Federal Government are geared towards salvaging suffering and flagging industries.
What are the Benefits of Having an EB5 Visa?
Permanent residency is perhaps the most popular advantage of this investor immigration assistance program. Also, the program does not require sponsorship from a family member or an employer. There can be many backlogs and delays for family-based green cards, but this is not true for the EB5 Visa Program, and most of the approved regional business centers are made up of prearranged programs that will only cost you around $500K (plus minimal administrative fees).This article is free for republishing
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Tags: new businesses, sum of money, new jobs, american dream, eb, green card, visa program, permanent resident, card visa, international investors, eb5 visa