EB-5 is a United States employment based fifth preference category also known as EB-5 immigrant investor Visa program was created in the year 1990 by the Immigration Act of 1990 and was designed to provide a method for eligible immigrant investors to become a lawful full pledged permanent residents.
They are also known as Green Card holders. The EB-5 invests substantial capital to greatly finance a business in the United States that will employ at least 10 American workers. A wide range of immigrant investors who use the EB-5 program invest in a specific targeted employment area also known as TEA. A very rural area or other locations with high rate of unemployment in order to invest less capital.
The EB-5 program is intended and designed with it sophistic programs to encourage both “Foreign investments and economic growth”.
How Long Will The EB-5 Visa Last?
The term and duration status of the visa is Two years. The investor and his or her family can freely live and even work in the United States during that period of time.
During the Two years conditional residency period, the person who invested in the EB-5 Visa will be required to fulfill all physical presence requirements and he or she can’t remain outside the United States for more than one year.
Is The Visa Safe?
The EB-5 is a safe forum. However, it is very crucial for all potential investors to understand that participating in the program is also to simply engage in any investment activity where gains and losses can simply occur inevitably. There is simply no guarantee for the total safety of one’s capital in an EB-5 project.
What Are The Benefits Of EB-5 Visa?
An EB-5 investment visa is amazingly one of many options available to immigrants to gain a lawful status to live and work comfortably in the United States. Here are some of the benefits obtained from having the visa:
- You get a lawful status in the United States.
- You also have freedom to live and work in the United States.
- Sufficient education and employment opportunities for children.
- Creation of job opportunities.
- Economic stimulation and growth.
- Monetary return on investment.
- Easier and quicker path to permanent residence and citizenship.
- Visa operates as its own sponsor without the requirement of sponsorships.
- Vast improvement to undeserved locations.
Even though the EB-5 requires a significant investment, it is still an excellent option for a more effective and faster path to citizenship for an investor and his or her family.
How Much Does An EB-5 Visa Cost?
If an EB-5 project is in a Targeted Employment Area also known as TEA, the qualifying investment amount is now currently at $500,000. Outside a TEA, investors must contribute $1,000,000 to obtain a Green Card.
The EB-5 investment amount in a Targeted Employment Area of $500,000 is paid to a US Commercial Enterprise as well as the investment amount of $1,000,000 in a Non-Targeted Employment Area. The Admin fee of $50,000-$65,000 is paid to an investment issuer at any regional Center.
The Legal fees of $20,000-$25,000 are paid to an immigration attorney. Lastly, the processing fee of $7,000 is strictly paid to a USCIS.
How To Apply For EB-5 Visa
A lot of foreigners find it hard to apply for this visa. Moreover, applying for this visa is actually easy if you follow the right steps and procedures. Fortunately for you, in this section, I will be providing you with the steps to proceed with the application of the EB-5 Visa as a foreigner. To begin:
- Connect to the internet.
- Open your web browser.
- Visit the USCIS official website.
- Next, fill out the I-526 Form.
- Once you have filled out the form, you will have to submit it.
- Then, you will wait for the NVC to get in touch with you.
- Pay all the necessary fees.
Then, apply for an Immigration visa, and you will be told when the interview will take place. If successful, you can be able to migrate to the US with your visa.