What is the EB-5 visa program and how does it work?
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The EB-5 visa program is a United States visa program that allows foreign investors to obtain a green card if they invest at least $1 million, or $500,000 in a targeted employment area, in a new commercial enterprise in the United States that creates at least ten full-time jobs for U.S. workers. The program is designed to encourage foreign investment in the United States and to promote job creation.
To be eligible for the EB-5 visa program, an investor must invest in a new commercial enterprise, which is defined as any for-profit activity formed for the ongoing conduct of lawful business, including a sole proprietorship, partnership, corporation, or business trust. The enterprise must have been established after November 29, 1990, or, if established earlier, must have been restructured or expanded in such a way that a new commercial enterprise results.
In addition to investing in a new commercial enterprise, the investor must also demonstrate that he or she has the intention of creating at least ten full-time jobs for U.S. workers within two years of the investor's admission to the United States as a conditional permanent resident. The jobs must be created directly by the new commercial enterprise in which the investor has invested, or indirectly as a result of the investor's investment.
Once an investor has made the required investment and demonstrated the creation of at least ten full-time jobs, he or she may apply for a conditional green card, which is valid for two years. After two years, the investor must demonstrate that the investment has been sustained and that the full-time jobs have been created. If these conditions are met, the investor and his or her family members may obtain permanent residency in the United States.
It is important to note that the EB-5 visa program has certain limitations and exceptions. For example, there are limits on the number of visas that can be issued each year, and there are specific requirements that must be met in order to qualify for the program. Additionally, investment funds must be from a legal source and the investor must not have any criminal convictions or immigration violations.
If an individual is interested in pursuing the EB-5 visa program, it is recommended that he or she consult with a licensed attorney for further guidance and advice. The attorney can help the individual navigate the complex requirements of the program and ensure that all legal requirements are met.
