Guiding You In Obtaining An EB-5 Visa by Investing In a Rural Area or One With a High Unemployment Rate
For those seeking permanent resident status in the United States, the often underutilized EB-5 immigrant investor program may be a productive avenue. The “immigrant investor visa,” or EB-5 visa, is an investment-based opportunity that lets foreign nationals obtain a green card. By investing in a commercial enterprise in the United States and creating jobs for U.S. workers, foreign citizens may be able to become permanent U.S. residents. However, the EB-5 program is not as simple as it may appear, and there are several potential pitfalls to keep in mind.
How The Immigrant Investor Program Works, And Some Things To Consider
The EB-5 visa is commonly called the “million dollar” visa, although it does not always require a million-dollar investment. In general, an immigrant investor can obtain permanent resident status through the EB-5 program by investing at least $1 million dollars in a commercial enterprise in the United States and creating at least 10 jobs for U.S. workers (not including the investor, his or her spouse, or their children). The money invested must be legally obtained capital: it must come from legitimate sources and cannot originate from drugs, corruption, etc.
An obvious disadvantage of the EB-5 program is that it requires a substantial sum of money. In addition to the required investment amount, further expenses can include administrative fees, legal fees and the cost of unexpected problems that may arise with the investment. And, as with all investments, work is required on the part of the investor.
Perhaps the easiest way to reduce EB-5 visa expenses is to reduce the initial investment requirement through investment in a Targeted Employment Area. The capital investment requirement is halved to $500,000 for in investments in a rural area or one with a high unemployment rate.
What To Do If You Are Interested In An EB-5 Visa
There are a number of benefits to seeking a green card through the EB-5 visa program rather than employment- or achievement-based green card options. For example, there is no need to show a shortage of U.S. workers qualified to perform your job, you are not required to have a permanent job offer in the United States, and you do not need to have an extraordinary ability in business. In addition, the principal investor, the investor’s spouse and their unmarried children can all obtain green cards through the program. But, all investments involve financial risk, and government red tape can make satisfactorily fulfilling the EB-5 visa requirements a challenge.
If you are seeking permanent resident status through the immigrant investor visa program, or any other method, you should give serious thought to seeking the assistance of a qualified immigration attorney. An attorney familiar with the EB-5 program can protect you from unnecessary financial risk by helping select an appropriate enterprise for your investment, and if possible, can take steps to lower the capital investment amount to $500,000. Moreover, an attorney will be able to guide you through the bureaucratic red tape in filing your application, ensuring a favorable reception by USCIS. If your EB-5 visa application is denied, an immigration attorney will help you appeal the decision in court.
We Are Ready To Help
Obtaining an immigrant investor visa can be a trying process. But, with the guidance of a skilled immigration lawyer, your application is more likely to go smoothly, and you could be well on your way to permanent resident status in the United States. Contact us by calling 650 588-7100 or sending us an email.
The international immigration law firm of Litwin & Smith represents clients throughout the United States and the globe.