When applying for an EB-5 visa, do I necessarily need to start a business in USA or can I obtain my visa b… by @R44D
Answer by Raad Ahmed:
The process of getting a green card through the EB-5 visa program that you are referring here is an excellent way for you and your family to obtain a green card and become U.S. citizens eventually. Although the EB-5 project in which you are planning to invest does not specifically have to be a startup company, it cannot be an investment in another financial asset, such as US home either. There are certain USCIS requirements for all the EB-5 projects that one has to meet in order to qualify for the program.
Generally speaking, you are required to invest either $500,000 in a rural setting or $1,000,000 elsewhere. You must also create 10 full-time jobs for U.S. workers and meet some other requirements too. Successful participation in this immigration program secures a green card for the investor, his or her spouse and also for any unmarried children aged 21 or younger.
Even though this is a complicated process, it does not comprise requirements related to business experience, age or language skills. Instead, the main aim here is to encourage foreign investors to take fruitful steps that will help the economy of the country to grow. In addition to the investment, the investor must also remain active in the new commercial enterprise’s management. The key requirement of the process set by USCIS is that the investor invests in a ‘for profit’ enterprise that was established after November 29, 1990. In case, the seeker cannot meet this requirement, there are other restricting and expansion requirements applicable to the enterprise.
So, you cannot invest in any financial asset but only in a range of EB-5 projects set by USCIS ranging from real estate developments to agriculture farms and more. However, day-to-day managerial control at the enterprise level is a must in any project you invest. Not everyone who shows up with the above-mentioned funds will be able to apply for the Immigrant Investor Visa program. As an investor, the funds that you intend to invest in the country will be verified to make sure they are obtained via lawful means. USCIS may ask for foreign business registration records, tax returns, documents showing the source of funds and any certificates regarding civil or criminal proceeding.
Applying for an EB-5 is no joke so you definitely speak with an attorney if you’re thinking of taking the next step. Feel free to visitfor a free 20 minute consultation with an experience immigration lawyer. Our platform has helped numerous foreign entrepreneurs secure the visa that’s right for them. Hope this helps. Feel free to reach out w/ questions!