EB-5 Visas For Immigrant Investors
The EB-5 visa category is a path to conditional residency in the United States for eligible investors and his or her dependents. The goal of Congress in creating this category was to attract investments in the U.S. and thereby also result in additional jobs for U.S. workers. There are 10,000 visas available each year for this category.
An investor is someone who invests $1.8 million in a commercial enterprise that benefits the U.S. economy and creates a minimum of 10 full-time jobs for lawful U.S. workers. A person need only invest $900,000 if the commercial enterprise is in a targeted employment area.
Besides the financial commitment, a person seeking to become a permanent resident through his or her investment must participate in the management of the business, either through the exercise of day-to-day managerial control or through the development of corporate policies.
What Type Of Investment Is Required?
There are several basic elements that an investment must meet in order to satisfy the EB-5 category requirements.
First, the amount of the investment varies somewhat depending on the location of the business and the unemployment rate in the area. Typically, the minimum investment is $1.8 million in areas of high employment, such as most metropolitan areas.
If a person makes an investment in an area that the government considers a “targeted area,” then the investment threshold is $900,000. Previously, multiple investors could pool their resources to reach the threshold amount. Now, only one green card is given per investment entity.
An individual can invest in an entity over time, and when the threshold amount is reached, the person can apply for an EB-5.
Second, regardless of the business location, the investment must create 10 full-time jobs for United States citizens or lawful permanent residents.
As with the E-2 treaty investor visa, the applicable regulations mandate that the investor put all of his or her investment at risk. The foreign national cannot fashion an arrangement that shelters him or her from the brunt of the business’ failure. The law also requires that the investor’s source of capital come from legitimate sources.
The foreign national must also assume an active role in an active business. In other words, merely investing capital into a business will not suffice. The investor must participate in the daily management activities or partake in the development of the business’ policies. Furthermore, the business itself must be an active business.
What Status Does An Investor Permanent Resident Receive?
If the USCIS grants the application, the foreign national receives “conditional” residency in the U.S. A conditional resident must formally petition for removal of the conditions on his or her residence at the appropriate time.
USCIS will remove the conditions if the foreign national establishes that (1) the business is still viable, (2) the requisite amount of money was irrevocably committed to the enterprise, (3) at least 10 U.S. jobs were created and still exist in the enterprise.
Investor visas are complicated and require the analysis and skilled navigation of an experienced immigration practitioner. Wilson Law Group encourages you to consult with the immigration attorneys to evaluate your particular situaiton and legal needs.
Consult An Immigration Attorney For Free
Our immigration attorneys at Wilson Law Group offer free initial consultations and encourage you to consult with us to evaluate your particular situation and legal needs. To schedule your free appointment, call our office at 612-430-8022 or send us an email through our website.
