The EB-5 investment visa option is one of the ways an immigrant may come into the United States to live as a resident. The program was created in 1990 with the main goal of helping to increase foreign investments within the country that would help stimulate the economy and produce jobs. While Congress created the program, the United States Citizenship and Immigration Services is the agency that really is most hands-on with it. This can lead to some sticky situations where what the law seems to say is not how the USCIS interprets it.
With that in mind, it is important to completely understand how the EB-5 program is managed. This will enable you to get the most from your experience if you secure this type of visa. Here is a look at some EB5 information on six important requirements you need to clearly understand when getting this visa.
- Creating JobsOne of the most important aspects of this type of visa is the requirement that your investment in a U.S. business must create jobs. You are tasked with ensuring you create at least 10 jobs. They must be new positions that are a direct result of your investment in the business. You will have to include an explanation of how these jobs will be created in your business plan.
- Investing the Required CapitalYou must also make the proper investment. Investments can be either $500,000 or $1 million, depending on the area your business will operate in. A targeted employment area will allow you to invest the smaller amount.
- Removing the Conditions to Resident StatusAfter your EB5 expires, you will have the chance to remove the conditions and become a permanent resident. If you wish to do this, you must file an I-829 form. You must file it according to the guidelines or you will be denied and you may be deported.
- Establishing a New Commercial EnterpriseYou must invest in a new enterprise. This means you cannot simply make an investment in an already established business and expect your EB5 to go through. You need to either start a business or buy a business. You could also invest to help with the expansion of an existing business. However, if you are working with an existing business in any way, you must make substantial changes.
- Proving Lawful Source of Funds for EB-5You are required to prove that you obtained the fund you use to invest in a legal way. You will have to provide documentation of how you got the money in your possession so it can be traced.
- Managing the EnterpriseYou will need to be responsible for the operations of your new business. While you may be able to take a more laid-back approach, you must be active in the business. You cannot take a passive role. You should have authority and power within the business regardless of its structure.
While not everyone can afford the EB5 visa, it may be the best option for some. However, adhering to the requirements is essential to maintain the visa.