For those foreign Immigrants who plan to invest and settle in the United States of America, the EB-5 visa program is certainly the best way to go. A single visa application entitles you to green cards for your spouse and children, those below twenty one years of age, sons or daughters. Also, it gives one the freedom to reside anywhere in the US, not necessarily where your EB-5 investment is. With this program, you also have the grand privilege to freely venture into any number of businesses, on top of paying same rates as in-state residents for college education. The program puts no restrictions regarding the immigrant’s age, level of education, years of experience in business or language. However, all these benefits are certainly subject to certain terms and conditions. The latest four rules and regulations in EB-5 visa program this August include:
1. This visa program is only available to those US immigrants who aim to invest at least half a million dollars in a Targeted Employment Area that will create at least ten full-time jobs, thus benefitting the U.S. economy. Outside the Targeted Employment Area, the threshold is one million US dollars. Targeted Employment Area here refers to a rural area or an area that has experienced high unemployment of at least 150 percent of the national average. This is meant to encourage investors to set up their trade in these low employment areas.
2. This investment that you intend to make must benefit the U.S market. This simply means the services or goods you offer should be to the US markets and not foreign markets.
3. The investment must employ on full time basis a minimum of ten U.S. workers. In this category are U.S. citizens, Green Card holders (those that have lawfully gained permanent residence) and any other individual with legal rights to work in the United States. The minimum ten does not include you, your spouse or even your children.
4. The immigrant must be involved in the day-to-day management of the new business. This does not necessarily mean your daily physical presence is required. Management can be in form of formulating business policy, say as a corporate officer or as a member in the board of directors. Other visas require the immigrants to manage daily business operations and the employees.
Abiding by these EB-5 rules and regulations this August entitles you to a permanent green card, obtained through a simple three step process. First of all, you should register and review the investment offering materials. Second, make capital investment and file petition 1-526. Then, lastly file 1-829 petition. Once all the requirements have been approved by USCIS, you have your permanent green card, with no travel restrictions in and out of your country.
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