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The EB-5 visa is the outcome of a permanent residence program targeted to foreign investors who are gainfully participating in the maintenance and growth of the American economy. This type of visa is an alternative to a green card, and offers unique opportunities for its holder and benefits to American industries.
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In short, the EB-5 visa allows foreigners to immigrate to the United States if they invest in U.S. business. This visa program was first established in 1990 by the United States Congress through the Immigration Act of 1990 designed to facilitate local economic growth through foreign investment. Applications have been growing due to the rising demand for additional capitalization in burgeoning and crucial industries like energy and agriculture.
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There are several requirements an investor must meet to qualify for an EB-5 visa. The most basic is an investment capital of $1 million (or $500,000 for an area with high unemployment). The commercial enterprise should employ at least 10 full-time US workers for a minimum of two years. The investment must also be made in an approved business entity, which follows one of the many prescribed business structures. Foreign investors may also invest in regional centers that manage EB-5 investment projects.
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Once decided, applicants must submit their I-526 petition and have it approved. Accomplishing that, the investor will receive a conditional permanent residency, which is essentially a permit to monitor his or her investment for two years. If the investor successfully meets all the requirements of the EB-5 program after two years, he or she can then file the I-829 application, or the petition by an entrepreneur to remove the conditions of his or her temporary residency.
Only after this application is approved can the investor be granted a permanent residency card.
The general process for an EB-5 visa is relatively simple and straightforward. For a more detailed description of each process, it is recommended that the investor consult an EB-5 specialist.
Shalom Segelman has helped many foreign nationals gain permanent U.S. residency with his expertise. Learn more about his services by visiting his Facebookpage.
