P-3 and EB5 Immigrant Investor Visas Compared

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 nonimmigrant Visa allows a culturally unique performer or artist, or performance or artist teacher, to enter United States.In this article we will take a closer look at the P-3 Visa and the EB5 Immigrant Investor visas to see how their paths to a Green Card Visa compare and contrast.  P-3 Visa The P-3 visa is described by the governments website as a classification that 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.Eligibility Criteria As per the governments website, for a P-3 visa, you must 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.EB5 Immigrant Investor Visa In stark contrast to the P-3 visa, lays the EB5 Immigrant Investor Visa.According to the governments 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. 3)     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).  4)     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 despite the fact that the P-3 and EB5 immigrant investor visas both rely on certain job based requirements being satisfied; the two are very different in nature with only the Eb-5 offering a path to a green card visa.