What are the requirements for obtaining an EB-5 visa?
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As a lawyer, I can provide you with information on the requirements for obtaining an EB-5 visa based on current laws and legal precedents.
An EB-5 visa is a type of investor visa that allows foreign individuals to invest in a U.S. business and obtain lawful permanent residency. To qualify for an EB-5 visa, the following requirements must be met:
- Investment: The applicant must invest at least $1.8 million in a new commercial enterprise. If the investment is made in a targeted employment area (TEA), which is an area with high unemployment or a rural area, the investment amount is reduced to $900,000.
- Job creation: The investment must create at least 10 full-time jobs for U.S. workers. The jobs must be created within two years of the investor’s admission to the U.S. as a conditional permanent resident.
- Lawful source of funds: The investment funds must come from a lawful source. The applicant must provide documentation to prove the source of funds, such as tax returns, bank statements, or business records.
- Business involvement: The applicant must be involved in the management of the new commercial enterprise either through day-to-day management or policy formulation.
- Conditional permanent residency: Once the EB-5 application is approved, the applicant is granted conditional permanent residency for two years. After two years, the applicant can apply to remove the conditions and become a lawful permanent resident.
It is important to note that there are potential limitations and exceptions to the EB-5 visa requirements. For example, the investor may be able to invest in a regional center, which is an entity designated by the U.S. government to promote economic growth in a specific geographic area. In this case, the investor may be able to rely on indirect job creation, which can be more flexible than direct job creation.
Overall, the EB-5 visa process can be complex and requires careful planning and documentation. It is recommended to consult with an experienced immigration attorney before applying for an EB-5 visa to ensure that all requirements are met and to maximize the chances of success.
