If you are interested in living in the United States but you are from a foreign country, then you need to obtain a green card or visa. You have several options for how to go about doing this. One of those options is the EB 5 visa program. This program was designed as a way to get foreign investors in the country to create jobs.
To meet the EB 5 visa requirement of creating jobs, you will need to invest a significant amount of money into a business venture. You must also ensure you create at least 10 full-time jobs. The process is actually one of the simpler visa processes. Here is a look at the steps you will need to take to secure this type of visa.
- Choose Your Investment
It is essential to choose the right project to invest in. You need to ensure it is something where you can have main control over business operations. You also need to ensure it will enable you to create the 10 required jobs and that those jobs will be sustainable. It isn’t enough to just hire 10 people. You have to keep them employed. Remember this visa’s main goal is to create jobs.
With that in mind, you need to choose your investment carefully. You can invest in pretty much any business you want as long as it is legal. You can work with private companies, public entities or even governments. You should make sure, though, that you can play a significant role in the company because that is a requirement of this visa.
- Make Your Investment
You will be required to invest a minimum of $500,000. If you are in a targeted employment area where the need for jobs is high, then that is all you will be required to invest. However, if you wish to invest outside one of those targeted areas, your minimum investment will be $1 million. You will need to provide the money upfront before you even file your application.
You must use money you have obtained legally. This will be checked by the USCIS. It must be completely traceable.
- File the I-526 Petition
The I-526 is the application for your EB 5. If you have everything in order, the approval of your petition will grant you a two-year visa to live in the country. It will also cover your spouse and any dependents under the age of 21.
- File the I-829
After your I-526 is approved and you have made your investment in a U.S. business, you will have two years of time to meet all the requirements laid out for the visa. Once the two-year period ends, you may be deported unless you file an I-829 within 90 days.
The I-829 allows you to request the conditions, which is the two-year limitation, to be removed from your visa. This grants you permanent residency. Again, this visa will cover your spouse and dependents under 21. To have this petition granted, though, you must prove you have met all the requirements under the EB 5 visa. You will be required to provide clear and complete documentation.
Following these four steps, you can work up to obtaining your green card. This will enable you and your family to stay in the U.S. as permanent residents without any restrictions.