Eb-5 visa requirements: Whether you’re planning of migrating to the US for a loved one, a job opportunity or to live the “American Dream”, getting an EB-5 (employment-based, 5th preference) Visa is a great choice to make your move.
Acquiring an EB-5 Visa allows offshore investors and their families to apply for green cards, following certain conditions. With an EB-5 Visa, you can live, study and work anywhere in the USA.
It’s also considered one of the quickest ways to obtain permanent resident status in the US. Therefore, it’s one of the most sought-after Visas for those planning to immigrate to the States.
The visa, administered by U.S. Citizenship and Immigration Services (USCIS’s) Immigrant Investor Program Office (IPO), is aimed to help boost the US economy by getting more foreign capital and creating more employment.
Dive into our guide to the Eb-5 visa requirements: –
Eligibility
The applicants must meet two basic criteria to acquire an EB-5 Visa: –
- They must invest in a U.S. business with a minimum of $1,050,000 capital investment amount. If the business is in a rural area, an area with high unemployment, or an infrastructure project, the minimum amount can be $800,000.
- They must aim to create or maintain at least 10 full-time jobs which can be taken up by U.S. residents.
Capital Investment
The investment can be in the following forms: –
- Cash
- Inventory
- Equipment
- Tangible Property
- Secured Indebtedness
The investment shall be measured based on the fair market value of the U.S. dollar.
A notable point is that the investment must be for a New Commercial Enterprise (NCE) for-profit business and fall into one of the following categories: –
- Joint Venture
- Corporation
- Sole Proprietorship
- Holding Company
- Partnership
- Business Trust
- Other publicly or privately-owned structure
It is also significant that the applicant invests in a company established after 29th November 1990.
If it was created on or before that, then it must be a new company essentially, and owing to radical restructuring, purchase or investment must lead to a 40% growth in its worth or employee count.
The Source of Investment Capital
The Investment Capital Fund must come from a lawful source. The United States Citizenship and Immigration Services (USCIS) carries out an in-depth examination of the applicant’s source of funds.
This is to tackle money laundering and address security concerns.
The applicant is required to submit appropriate evidence to prove that their funds come from a lawful source.
Employment Creation
Since one of the main intentions behind the EB-5 Visa program is to create jobs, the second essential criterion that the applicant must fulfil is the creation of new job opportunities.
These jobs should be created within two years of the investment but businesses may also get an extension for a year.
For businesses located in a regional center wherein there’s an economically conducive environment, the investment must lead to either direct or indirect job creation.
Direct job creation will be when the company itself is the employer whereas indirect job creation entails the emergence of jobs due to the activities of the business. If the business is not located in a regional center, it’s pertinent that the business must create ten new jobs.
In the case of a ‘troubled business’ that is riddled with economic challenges, there can be some allowances. A business is considered ‘troubled’ if it has been operating for at least two years and has faced a net loss of at least 20% of the net worth, within one or two years from the filing date.
Time Duration
The duration for acquiring EB-5 can differ. It can take around 47 to 71 months for the initial petition (Form I-526) to be processed. After that, the applicant is required to check the availability of a visa.
In cases where the applicant lives abroad, the approximate duration for consular processing to get a green card approved can be around 4 to 6 months.
But if the applicant is staying in the USA, the duration is between 7.5 to 45.5 months. It shall depend on the service center and the decision shall be taken through the Adjustment of Status process.
In a broader sense, the applicants must fill capital investment amount requirements, employment opportunities creation requisites and make sure that the business in which they are investing qualifies for the EB-5 program.
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FAQs:-
Q. What is an EB-5 visa?
The EB-5 (employment based-5th preference) investor visa allows investors who meet a certain criterion to get permanent resident status in the U.S. With the visa, the applicant’s, spouse and children below 21 years of age may also get a green card.
Q. How do I qualify for an EB-5 visa?
To qualify for an EB-5 visa, you must adhere to the capital amount requirements (which can be $1,050,000 or $800,000), job creation requirements, and make sure that the business you’re investing in qualifies for the EB-5 program.
Q. How much does an EB-5 visa cost for Indians?
The minimum investment for Indian applicants is ₹6.53 crore for targeted employment areas and ₹8.63 crore for other areas. There’s also an administrative fee and other accompanying expenses.