M Frizzi

P3 and EB5 Immigrant Investor Visas Compared

In this article we will take a look at the P-3 and EB5 investor visas and see how the two visa programs compare and contrast.

The fifth preference employment based visa (EB5) was created in 1990 as a way for foreign investors to gain United States permanent residency (and eventual citizenship if desired), through an investment in a new or pre-existing American business that sees the creation of at least 10 new full-time jobs for American workers. The P-3 Artist or Entertainer Visa is described by the government’s website as being a visa which “applies to you if you are coming temporarily to perform, teach or coach as artists or entertainers, individually or as part of a group, under a program that is culturally unique.” In this article we will take a closer look at the P-3 and EB5 Immigrant Investor visas to see how their paths to a Green Card Visa compare and contrast.

…Be coming to the United States either individually or as a group for the purpose of developing, interpreting, representing, coaching, or teaching a unique or traditional ethnic, folk, cultural, musical, theatrical, or artistic performance or presentation. In addition, you must be coming to the United States to participate in a cultural event or events which will further the understanding or development of your art form. The program may be of a commercial or noncommercial nature.

1. Written consultation from an appropriate labor organization

2. A copy of the contract between the petitioner and the beneficiary or the summary of the terms of an oral agreement between the petitioner and the beneficiary

3. An explanation of the event and itinerary

4. Affidavits, testimonials or letters from recognized experts attesting to the authenticity of your or your group's skills in performing, presenting, coaching or teaching the unique and traditional art forms and giving the credentials of the expert including the basis of his or her knowledge of your or your group’s skills

5. Documentation that all of the performances or presentations will be culturally unique events

6. Documentation that your or your group’s performance is culturally unique as evidenced by reviews in newspapers, journals or other published materials.

EB5 Visa – In stark contrast to the P-3 Visa, lays the Immigrant Investor Visa. According to the government’s web page, to qualify for the EB5 Visa Program you must: 

1.  Invest or be in the process of investing at least $1,000,000.  If your investment is in a designated targeted employment area (A Targeted Employment Area is defined by law as “a rural area or an area that has experienced high unemployment of at least 150 percent of the national average.) then the minimum investment requirement is $500,000.

2. Benefit the U.S. economy by providing goods or services to U.S. markets.

1. Create full-time employment for at least 10 U.S. workers.  This includes U.S. citizens, Green Card holders (lawful permanent residents) and other individuals lawfully authorized to work in the U.S. (however it does not include you (the immigrant), or your spouse, sons or daughters).

2. Be involved in the day-to-day management of the new business or directly manage it through formulating business policy – for example as a Limited Partner, corporate officer or board member.

We see in this comparison that the P-3 and EB5 immigrant investor visa are very different in nature and offer disparate paths to a Green Card Visa. While the P-3 allows a foreign citizen to enter the country in order to temporarily perform, teach or coach as artists or entertainers, the EB5 visa relies on an immigrant’s investment to create new full-time jobs for the American workforce.

Article Tags: Immigrant Investor, United States

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR