Many people look to come to the U.S. on a green card but some are unaware that there is more than one type. The EB-5 investor green card is popular and extremely beneficial to those who decide to apply for one. This article will discuss what the EB5 Visa program actually is.
The EB-5 Green Card was created to promote investments in businesses and to create and preserve jobs in the U.S. Each year more and more people come to the U.S. in search of jobs or just a new way of life. However, those people who come to the U.S. with investing in mind often are allowed to live here by having an Immigrant Investor Visa. This card allows investors to live within the U.S. legally while running their business. Of course there is a long process to go through before one is granted a Green Card Visa, but in the end many believe it is truly worth it.
With illegal immigration a bigger, and more contentious, issue these days, the country has tightened up the procedure to become a lawful permanent resident. Basically this is the program that all immigrants must go through if they are looking to become U.S. residents through the fact that they are setting up a commercial enterprise that will create new jobs and business flow within an area.
When it comes to the Eb5 Visa Program there are several requirements that immigrants must meet before they are granted residence in the U.S. Most if not all of these requirements must be met before the immigrant’s petition to become a resident is accepted and processed.
Below are some of the most common requirements.
1. Investing in new commercial enterprise – For an immigrant to have an approved EB-5 visa, he/she must prove that there has been an investment of at least $1,000,000 to the new business. If the business was created in order to target a specific type of employment, and in a specially designated area, then an investor only needs proof that $500,000 has been spent. All of the money must be traced back to ensure it came from legal methods.
2. Starting a new enterprise – This means that you have to create an original business that will offer a specific product or service. Immigrants can also buy a business that already exists within the U.S. and change it around by reorganizing it so that it starts off anew, providing new commercial enterprise results. If the business is purchased and already in existence, the new business must be able to increase the original investment number of jobs by about 140%. If the business is faltering by 20% of more, the new owner must be able to keep all of the existing jobs.
3. Benefiting the economy – Of course the business at hand must benefit the U.S. economy in some way or another. An obvious benefit is that the new enterprise would create jobs. A new business can employ no less than 10 full-time individuals. An existing company must retain all existing employees for two years.
Before you apply for the EB-5 visa program be sure that your enterprise meets all of these requirements. Ensure you have all of the necessary documentation to prove so as well. This way the process is a lot smoother for you. If you meet all of the requirements you’re well on your way to receiving your EB-5 green card.
Stanley Hermosillo is the author of this article for Eb5 Center. He recommends the Eb5 Center for all Green Card visa, immigrant investor visa, and eb5 visa program related issues and affairs.
Stanley Hermosillo is the author of this article for Eb5 Center. He recommends the Eb5 Center for all green card visa, Immigrant Investor Visa, and EB5 Visa Program related issues and affairs.