The EB-5 visa program is among one of the many different programs that one can apply to get a visa to the US. Here are five facts about the EB-5 visa that you need to know:
What is an EB-5 visa?
Qualified foreign investors and their families have the opportunity to obtain a US Green Card by invest in American job-creating real estate projects through the EB-5 program. This visa also allows them an opportunity to relocate to the US either temporarily or permanently. The program started in 1990 to bring foreign investment and opportunities to the US and stimulate the economy. Application into the program can be done through a regional center which is an approved third party connecting investors with investment opportunities.
EB-5 – For Investors & Their Families
The EB-5 Visa program allows not only the investors to receive green cards, but their families as well. The investments start at half a million dollars if the project is in a rural regions with unemployment called a “TEA” or one million dollars into a project in any other area. From the time the program started in 1990 to around 2014/2015, the number of applicants requesting the visa has greatly increased. This has brought about the thought on whether the visa regulations should be revised.
EB- investors should meet the below requirements in order to qualify for the program
- Show evidence of having obtained the money invested legally
- Invest $500,000 or $1,000,000 in a pooled investment vehicle where to qualify under the EB-5 program, an investment of $1 million in a qualified new commercial business has to be made by the investor. The amount is reduced to $500,000 if the business is within an area with a high level of unemployment.
- The investment should create 10 new jobs in the US.
The USCIS has to pre-authorize EB-5 Regional Centers to market investment projects and then analyze in detail the Regional Center’s business plan, management team, investment projects, job creation projections and the fee structure. Capital also has to be raised from foreign investors under the Pilot Program. Approval of the form offers investors a temporary 2-year conditional green card. After the 2 years, the investors must file a 2nd application proving that the 10 jobs were created to receive their permanent green card.
EB-5 visa program benefits to the US Economy
The foreign investor receives an ownership interest in a US business that offers them a green card while the US businesses receive EB-5 capital at competitive rates. Many America residents get employed through the projects which stimulate the economy and increases capital investments.
Will the EB-5 visa program be reformed?
While the current administration and Congress are considering making changes to the visa with regards to the number of visas, inclusion of family members and the minimum investment, the EB-visa is still intact. A large number of the visas are granted to Chinese nationals. The current president’s investments in China will also determine the future of the EB-5 visa.
It is not yet known whether there will be an immediate change with the EB-5 visa program but for now the program is extended until February 2018 without change. You can search online for more information about EB5 at https://visaeb-5.com/what-is-eb-5/