Businessmen who wish to move to the US and settle in the most thriving economy in the world have the option of investment program that is known as EB-5. This will also give them the option to avail the permanent residence or the green card. An investor who desires to secure this visa must satisfy three minimum conditions.
The first requirement is that the overseas immigrant must fund a fresh commercial enterprise of at least $1 million in the US or $ 500,000 in case the funds are invested in a specific employment zone. The second condition is that the funds must be from a lawful source as specified by the Immigration Act of 1990. The third requirement is that the investment must create at least ten jobs for the workers in the US.
It was quoted by the Reddyesq that the family members of the overseas investor which includes the spouse, single children below the age of 21 are eligible to have the permanent residence in the US.
The minimum investment of funds required under the investment visa is $ 1 million at present. But if these funds are for a commercial enterprise in the specific employment zone, the investment sum is $500,000. The definition of this zone is an area that has unemployed people that account for 150% of the average rate of the US unemployment figures.
The overseas investor must be individually accountable for the funds through which the EB-5 visa is applied. The funds must not be utilized for settling any debts.
The funds of the investor must be utilized in profit making enterprises which include business trust, a single proprietorship, corporation, or a joint venture. The entrepreneur who secures the investor visa must create employment for at least 10 full-time workers before the completion of two years of the investment. Full-time employment is defined by at least 35 hours of working hours per week.
The overseas investor can also opt for sustaining jobs in a disturbed commercial enterprise. The requirement is that the enterprise must be one or two years old and must have sustained a minimum of 20% loss of the net worth.
The process of obtaining the investor visa under EB-5 involves three steps. The investor must first apply through the I-526 Form with the USCIS. Once the form is approved, the investor can request for provisional permanent resident status that is valid for a period of two years. Finally, the entrepreneur must apply for processing of the I-829 Form. This form requires satisfaction of the conditions that the investment was continued for the period of two years and created jobs for at least 10 workers.
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