The United States is built on entrepreneurship. Ideas are combined with strategy and hard work to create a successful business. Some of America’s most innovative and groundbreaking companies were built on the determination of those who have come here from other countries. These contributions are crucial, that’s why the EB-5 visa program was established.
About the EB-5 Visa
In 1990, Congress established the Immigrant Investor Program, which spawned the EB-5 Visa, as a way to encourage business people outside of the U.S. to make capital investments in this country. Along with stimulating the U.S. economy, the goal was to create more jobs. EB-5 visa holders are required to start or maintain a company that’s classified as a sole proprietorship, partnership, corporation, holding company, joint venture, or business trust.
To ensure success in procuring an EB-5 Visa, we strongly recommend working with a Tampa EB-5 immigration lawyer. They understand the nuances of the program and can ensure that your effort is organized and thorough. Here are some basic requirements for this program:
- Investors must start a business or invest in an existing business. They may do this on their own or work with a regional center. Regional centers are local organizations in the public and private sector that work with EB-5 investors to fulfill their job creation requirement. Regional centers make up 95 percent of today’s investments.
- EB-5 visa applicants must invest at least $1 million unless they are investing in a targeted employment area (TEA). Then they are required to make a $500,000 investment. Rural areas and areas with high unemployment rates are designated as TEAs. Florida currently has 33 TEAs.
- The investment must directly or indirectly lead to the creation of 10 new jobs or maintain 10 jobs in an existing company.
The Role of a Tampa EB-5 Immigration Lawyer
United States Citizenship & Immigration Services (USCIS) only grants 10,000 EB-5 visas per year. It’s important that you fill out the application accurately and that you provide all the supporting information. A Tampa EB-5 immigration attorney from Cotney Construction Law can help you by providing thoughtful counsel that ensures that you go through the process correctly. You’ve made the decision to invest in this country, let us guide you along the path.
If you would like to speak with an experienced Tampa EB-5 immigration lawyer, please contact us at 813.579.3278, or submit our contact request form.
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.