Advantages of the EB-5 Visa Program Part 2
Since 1990, the EB-5 visa program has been a primary method for bringing foreign investors to the United States. It’s been a facilitator for the entrepreneurial dreams of individuals across the globe and a catalyst for economic prosperity here in the U.S. It’s requirements are designed with economic growth in mind. To qualify for an EB-5 Visa, you must:
- Start a business in the U.S. or one of its possessions.
- Invest $1 million into the business. The investment requirement is $500,000, if the business is located in a targeted employment area. These are areas that either have a high unemployment rate (150 percent of the national rate) or is mostly rural (located outside of a city with 20,000 people or more).
- The business must create 10 new jobs. These jobs can be indirectly created because of the business.
For more information about how to obtain an EB-5 visa, contact a Tampa business immigration attorney at Cotney Construction Law.
These requirements are significant and procuring an EB-5 visa can be a challenge. However, the advantages of having one over other visas are numerous and include:
EB-5 investors and their families are eligible for in-state tuition as well as grants and scholarships. They are also able to attend public schools.
Generally speaking, EB-5 visas can be attained faster than other visas. Approval for an EB-5 visa can occur in as little as three months. Your residency status can become unconditional after two years and you can become a naturalized citizen after five years.
No Requirement to Manage a Business
While you are required to invest in your business, you are not required to manage it. If you are a limited partner under the Uniform Limited Partnership Act, you will qualify for this visa. This means that you can work for any company you choose or, even, retire.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.