EB-5 Visa Lawyer in Greensboro, NC
Many people around the world want to pursue the American dream. With the EB-5 Immigrant Investor Visa Program, achieving the American dream is possible. There are strict guidelines that govern who can apply for the EB-5 visa. If you are wondering how does the E
B-5 visa work and if it’s the right option for you, your family, and your business endeavors, learn more about this program below.
How Does the EB-5 Visa Work?
The Immigration Act of 1990 created the EB-5 Immigrant Investor Visa Program. The United States Congress created the EB-5 Program to stimulate the nation’s economy and encourage capital investment by foreign investors. The program establishes a process for eligible immigrant investors to become lawful permanent residents of the United States. It is one of five employment-based programs offered in this country. Under this program, business investors, their spouses, and unmarried children under the age of 21 are eligible to apply for permanent residency if they meet two requirements.
To qualify for an EB-5 visa, immigrant entrepreneurs must (1) invest at least $1,000,000 in a commercial enterprise based in the United States that (2) employs a minimum of 10 American workers in a full-time capacity. Many individuals who pursue EB-5 visas invest in targeted employment areas, a portion of the country with high unemployment rates, as this decreases the initial investment required to $500,000.
The U.S. Citizenship and Immigration Services defines a commercial enterprise as “any for-profit activity formed for the ongoing conduct of lawful business including, but not limited to:
- A sole proprietorship
- Partnership (whether limited or general)
- Holding company
- Joint venture
- Business trust, or
- Other entity, which may be publicly or privately owned.
This definition includes a commercial enterprise consisting of a holding company and its wholly owned subsidiaries, provided that each such subsidiary is engaged in a for-profit activity formed for the ongoing conduct of a lawful business.”
Additionally, there are job creation requirements for EB-5 Visa investors. These include:
- “For a new commercial enterprise not located within a regional center , the full-time positions must be created directly by the new commercial enterprise to be counted. This means that the new commercial enterprise (or its wholly owned subsidiaries) must itself be the employer of the qualifying employees .
- For a new commercial enterprise located within a regional center, the f ull-time positions can be created either directly or indirectly by the new commercial enterprise.
- Direct jobs are those jobs that establish an employer-employee relationship between the new commercial enterprise and the persons it employs.
- Indirect jobs are those jobs held outside of the new commercial enterprise but that are created as a result of the new commercial enterprise.
- In the case of a troubled business, the EB-5 investor may rely on job maintenance.
- The investor must show that the number of existing employees is being , or will be , maintained at no less than the pre-investment level for a period of at least 2 years.”
EB-5 Visa FAQ
How many EB-5 visas are issued each year?
The number of EB-5 visas issued each year varies. For example, in 2017 10,090 EB-5 visas were issued, whereas only 9,947 were given out in 2016.
What are your lawyer fees for the EB-5 visa?
As an EB-5 visa lawyer, I am aware that every client’s circumstances are different. Therefore, the best way to determine the lawyer fees associated with your specific EB-5 visa case is to contact our offices now.
Do I have to start my own business to receive an EB-5 visa?
According to USCIS, “all EB-5 investors must invest in new commercial enterprise, which is a commercial enterprise:
- Established after November 29, 1990, or
- Established on or before November 29, 1990, that is:
- Purchased and the existing business is restructured or reorganized in such a way that a new commercial enterprise results, or
- Expanded through the investment so that at least a 40-percent increase in the net worth or number of employees occurs.”