How Can I Acquire the American EB5 Visa?
Every individual living in a third-world country has the sweet American dream of living a life full of prosperity, success, and access to high standards of living. However, acquiring an American visa is not easy and requires a lot of effort.
One such visa is the American EB5, which requires individuals to invest in the American economy. The visa program was introduced in 1990 to attract foreign investors and boost the American economy. If you want to learn more about the EB5 visa and how you can acquire it, you are at the right place. Refer to the article below to understand everything that you need to know about the EB5 visa.
What is the American EB5 Visa?
The American EB5 visa was created to foster growth in the American economy by encouraging foreign investors to invest their money in US-based businesses. The visa program was introduced in 1990 and has been a gateway for foreigners to attain permanent residence in the land of opportunities. In simple terms, if you invest in the American economy, you stand a chance to win a green card.
The visa program was initiated by the U.S. Congress and is currently run by the United States Citizenship and Immigration Services (USCIS). However, there are a few criteria to win the EB5 visa. In the following section, we discuss them in detail.
Eligibility Criteria for the EB5 Visa
To qualify for the EB5 Visa, one needs to meet the following eligibility criteria:
- Age: To apply for an EB5 visa, the applicant must be at least 18 years old or have a legal guardian co-sign if they are under 18.
- Investment: To qualify as a conditional permanent resident, the applicant must invest at least $800,000 in the US economy and create a minimum of ten jobs within two years of the investment.
Here, you need to remember that the business that the applicant is investing in must be one of the following:
- Corporation
- Business trust
- Joint venture
- Holding company
- Partnership
- Sole proprietorship
- Other public or private holdings
How to Apply for the EB5 Visa?
You need to follow the steps mentioned below to apply for the visa:
- Initial Petition:
In the initial petition, the applicant must fill up Form I-526 along with providing the officials with the following evidence:
- The applicant must fulfill the criteria mentioned above.
- The area is a targeted employment area (wherever applicable).
- The applicant must be involved as a business manager in the enterprise.
- After two years of petition, the number of employees mustn’t dip.
- Submitting the green card application:
Once your Form I-526 is approved, you need to submit the green card application. Now the process of submitting the green card will be different for different applicants. If you don’t live in the US, you have to go through counselar processing once you have filled up Form DS-260. During this process, you also need to visit the US embassy or the consulate for an interview.
On the other hand, if you are currently in the US, you need to fill out Form I-485 and attend an interview. If your application is successful, you and your family members will receive a conditional green card, which is valid for two years.
How is EB5 Different from Other Employment-Based Green Cards?
The EB5 visa is different from other employment-based green cards in the sense that it focuses on foreign investment and job creation. However, other employment-based green cards concentrate on seeking employment from US employers.
Conclusion:
The process of attaining permanent residency in the US comes with a lot of challenges. However, with the EB5 visa, you can rest assured that your American dream will soon come true as long as you are fulfilling all the criteria mentioned above.
Remember that attaining the visa requires you to invest money in the US economy and generate employment. However, before investing, it is essential to conduct a thorough background check of the enterprise to ensure that your hard-earned money is invested in the right place.
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