Posted on: 27 August 2018
When immigrants want to come to live and work in the US, there are a variety of visas that they can use so that they can possibly become citizens at some point in the future. One of those visas is called the EB-5 visa.
EB-5 stands for employment-based 5th preference category. It's also called the EB-5 Immigrant Investment Program. This category of visa is designed specifically for people who want to invest money in a business that will hire at least 10 people. Generally, the amount of money that will need to be invested is $1,000,000; however, there are regions that are economically troubled where the foreign investor will only need to be able to invest $500,000. Those areas also include rural areas where finding a job can be difficult. The theory behind the EB-5 visa is that it's supposed to spark economic development and growth in the particular region.
What Are Some of the Requirements to Getting an EB-5 Visa?
Actively Involved in Business
One of the requirements for getting an EB-5 visa is that the investor has to be actively involved in the business. That doesn't mean that they have to be the one in control of the business, but they have to do more than just stick their name on the business. They have to be coming in to work and making decisions or helping out, depending on what the business is and how many other employees there are.
The investor also has to make sure that they are making the right kind of investments into the business. That can include things like buying inventory or equipment, as well as buying property for the expansion of the business. The investment also has to be made within 24 months of the start of the visa process. Some unacceptable investments include things like business loans and rent from a property.
Clear Proof of Income and Outgo
Another requirement is that the initial investment has to be proved to be clear from any kind of illegal activity and that the money made from the business is also going into strictly legal paths. The immigration services will do checks to make sure that this is true.
If you are interested in an EB-5 visa, it's important that you do it right. Getting an EB-5 visa attorney can help you make sure that you have everything done correctly.Share