Are you thinking of relocating? One of the most coveted destinations in the world is, of course, the United States of America. However, there are not so many ways to get there, resulting in a large number of illegal migrants. Routes do exist, though, and an EB-5 visa is one of the popular pathways for investors. In several years, this visa can be exchanged for a green card, which adds to its appeal. This post is devoted to the main peculiarities of obtaining the EB-5 visa and the procedures you will have to go through.
We would like to invite you to our portal where you can read the full text of the article devoted to applying for an EB-5 visa and explore our sections focused on international business and banking, taxation, asset protection, citizenship by investment, and more. You can also schedule a meeting with our consultant to discuss your needs, preferences, and possibilities, and find the best opportunity for you – at no charge! And if you want us to help you with any issues related to visa acquisition, we can do so at a moderate fee without much hassle on your part.
EB-5 Visa: Details
The US Employment-Based Fifth Preference Category, as the program is officially called, is a way of receiving a green card adopted in 1990, and it gives an opportunity to receive residence permits for the whole family. You will have to make a considerable investment in the American economy to be eligible.
Let’s take a look at the main requirements:
- Collect the required package of documents, in particular, the proof of the legal origin of the funds you are going to invest. You will need an immigration lawyer’s assistance.
- Make investments in a US business project. It can be your own company or a business approved by a regional center. The investment amount equals 0.8 million US dollars if this is a project in the Targeted Employment Area and 1.05 million US dollars in any other case.
- Pay a state duty (3,675 US dollars).
- Pay a fee to the EB-5 Integrity Fund (1,000 US dollars).
- Apply for the visa at a US consulate or embassy in your country of residence or in the United States.
- Create at least 10 permanent jobs for the local citizens or residents with a work permit.
- The number of EB-5 visas issued to foreigners on an annual basis does not exceed 10,000. In addition, there are quotas for particular countries. If you fall within the quotas, you will be granted a visa.
EB-5 Visa: Benefits
- You can apply for the EB-5 visa no matter what country you come from, even the sanctioned one. The majority of those wishing to obtain a visa come from South Korea, India, and China, so it is not very easy for them to fall within the quota.
- If you successfully get the EB-5 visa, you will be allowed to live and work in the USA and take advantage of the country’s healthcare and educational facilities.
- You will not need a US employer/sponsor to obtain the EB-5 visa.
- You will be able to include your spouse and unmarried children under 21 in the application. This is a single-entry visa, and you will first obtain a temporary green card and can later exchange it for a permanent one. As for citizenship, you can apply for it in 5 years if you want to.
- You can return your investment in five years and even make a profit if you choose the investment project carefully and find a qualified immigration lawyer.
- Your investment can be passive! You simply invest in a business project run by a regional center, and live your life without the trouble of managing a business.
Obtaining the EB-5 Visa: Procedure
Let’s assume that you want to make a passive investment rather than manage your business.
Step 1: Preparation
- Complete the investor questionnaire. You will need to tell your brief biography, mention the source of your capital, specify the investment projects you prefer and the number of family members you want to include in the application, and so on.
- Find a licensed immigration lawyer. The regional center can propose a reliable one, but you are under no obligation to accept him/her.
- Select the investment project. Make sure you study the documentation related to the project with due attention as you are expected to act consciously.
- Collect supporting documents. You will need the help of an immigration lawyer who has successfully worked with the candidates from your country.
- Make an investment commitment. You will need to sign the required document and transfer the money.
- Applying for the visa. This will be done by the immigration lawyer on your behalf.
Step 2: Application Processing
The USCIS will assign a number to your application and take some time to process it. The number can be used to make inquiries regarding the application status, and this is usually done by the immigration lawyer: he or she knows how long the processing takes and interferes in case of delay.
Step 3: Interview
Applicants for the EB-5 visa are required to have a personal interview at a US embassy or consulate.
Path to Citizenship
If you successfully pass all the stages, you will obtain the visa in several months or maybe several years if the quota is exceeded.
Upon arrival in the USA, you will obtain a temporary green card valid for 2 years. If you want to subsequently get a permanent one, you will have to meet the following requirements:
- During the investment period, at least 10 jobs should be created thanks to your funds (this largely depends on the regional center, so you’d better choose it wisely).
- You will have to keep your investments in the project until the temporary green card expires.
The permanent green card will give you the possibility to live in the USA all your life – however, you will have to extend it every 10 years. And if your aim is to become a full-fledged US citizen, you can apply for citizenship in 5 years after living on a permanent green card.
We strongly recommend that you seek qualified help in obtaining the EB-5 visa as the number of rejections is very high if applicants decide to act on their own. Click on the above link to read more details or get in touch with our professionals to discuss all the issues.