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What is an EB-5 Visa?


We must know that not all United States visas are applicable to an individual. There are certain requirements or qualifications of a particular visa which one may not meet. Just like the EB-5 Visa which is solely designed for immigrant investors. This visa attracts foreign investors in the United States and thereby creating jobs for American workers. It is a programme that serves as a direct route to a United States Permanent Resident Card (green card), provides permanent residency to for the investor and his immediate family (children should be under 21 years of age) and grants the freedom to live and work in the United States or even retire.

Under section 203(b)(5) of the Immigration and Nationality Act (INA), there are 10,000 EB-5 visas available annually for qualified individuals who seek permanent resident status in the United States provided that they engage in a new commercial business. Out of these 10,000 visas, 3,000 of which are set aside for the designated regional centers which exist in Philadelphia, Seattle, California’s Imperial Valley, eastern Washington state, parts of South Dakota and Iowa, and the entire states of Vermont and Hawaii.

Eligible investors can opt to come alone or with the spouse and unmarried children. These eligible aliens are those who have created an original business, purchased an existing business thereby creating a new commercial enterprise, invested at least $1,000,000 or $500,000 in a targeted employment area, created at least 10 direct jobs for the United States workers, expanded a business by at least 140 percent of the pre-investment number of jobs or helping out a business which has lost 20 percent of its net worth in the past 12 to 24 months.

To apply as an immigrant investor, one must file a USCIS (U.S. Citizenship and Immigration Services) Form I-526, Immigrant Petition by Alien Entrepreneur. This form needs to be filed together with supporting documents which clearly states that the applicant’s investment meets the requirements. Once the Form I-526 is approved, the immigrant investor may obtain conditional conditional resident status by filing the USCIS Form I-485 which is an Application to Register Permanent Residence or Adjust Status, if residing within the United States or applying for an immigrant visa at a U.S. consulate abroad for individuals residing outside the United States. To become a permanent resident, a USCIS Form I-829 which is a Petition by Entrepreneur to Remove Conditions must be filed within 90 days before the second anniversary of an alien investor to the United States as a conditional resident.

The USCIS Form I-526 should be filed at the designated USCIS Service Center where the new commercial enterprise will be principally doing business.

Al Khalel is a content writer for a company that can help in Chang plaintiff and provides Citizenship and Immigration Service.

Article Source: http://www.ArticleBiz.com


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