For investors who have money to spend and want to use it to create jobs on US soil, Congress created the EB-5 Visa, also called the Immigrant Investor Visa. This visa was part of an effort beginning in the early 1990′s to attract businesses and job-creators to the country by offering a special, streamlined process of admission into the country.
Who Qualifies for an EB-5 Visa?
The EB-5 Visa is intended for anyone who wants to enter the US in order to do business that will benefit the national economy, chiefly measured by job creation and capital investment. This means that an immigrant investor has to invest capital amounting to $1,000,000 in any business based in US, or if the investment is indirect, the sum of $500,000 in a rural area or where unemployment is high. The visa will only remain valid if the investment creates at least 10 jobs for US citizens or legal immigrants within two years.
How to Apply for an EB-5 Visa
Although the EB-5 Visa was intended to facilitate the presence of investors, getting one can still be a complex and time-consuming process. The investor has to first file an Immigration Petition by Alien Entrepreneur (Form I-526) with the US Citizen and Immigration Service (USCIS). When that is approved, the investor can then apply for an immigrant visa at a US consulate or embassy.
When the application is approved and the fees that go with it are paid, the investor must then provide further documents such as more application forms, civil documents, and possibly others. Keep in mind that investor visas are approved on a first-come, first served basis, so the earlier the investor applies, the greater the chances of being approved within the year.
Other Important Information about the EB-5 Visa
Some other important information about the EB-5 Visa includes:
• An investor’s family may apply to enter the US along with the investor, but will still be required to file the same paperwork and pay the same fees for each family member.
• Anyone seeking an EB-5 Visa will have to have a medical exam and various vaccinations (depending on what country they come from) to ensure they are in good health when they enter the US.
• The investor’s passport should be valid for 60 days beyond the expiration of the visa, to allow for complications, extensions, and travel.
• The investor will be required to show that he or she is financially independent and will not seek public assistance from the US.
• The investor will have to provide two 2×2 photographs.
• Some of the documentation that may be required includes birth certificates, marriage certificates, medical certifications, and any translations of these documents necessary.
In addition, you can always contact a reputed immigration lawyer, who would be able to help you complete the documentation and fulfill the requirements by filing appropriate petitions. As they are conversant with the current laws and changes that have taken place over the years, seeking their advice on the EB-5 visa would make a lot of sense.