Obtaining a U.S. green card doesn't have to be impossibly hard. For those able to pursue permanent residency through the EB-5 Program, it's not. As long as an investor meets the requirements described below, obtaining a green card is relatively easy.
What Is the EB-5 Program?
A program such as the EB5 Program was created by the U.S. Congress in 1990 as a means of stimulating the economy through capital investment by foreign investors and job creation for U.S. workers. The program remains a popular option today among foreign business professionals who want to obtain green cards for themselves and their immediate families because it offers a relatively simple path to legal residency. This article will offer an overview of what's required.
The purpose of the EB-5 Program from the standpoint of the U.S. government is to stimulate the economy, so it should come as no surprise that obtaining an EB-5 visa requires a substantial investment. According to realtimecampaign.com, the visa holder must invest in a for-profit U.S. company, and the money must create at least 10 full-time jobs for U.S. residents within two years. Until that point, residency status is considered conditional.
Two types of investments count towards EB-5 requirements. The first is a standard investment of $1,050,000 or more in any U.S. company that leads to the creation of at least ten jobs. The second is called a Targeted Employment Area (TEA) investment.
Under the TEA investment model, investors can put $800,000 into a company located in a rural or high-unemployment area. This approach offers a way to lower the bar slightly on investment amounts, opening the door to a larger number of foreign investors. Staying ahead of the July 1 tax increase on outbound money transfers can ease the path to EB-5 and also help investors save some money.
Job Creation Requirements
Every EB-5 investment must result in either the creation or preservation of at least 10 jobs within two years of the investor receiving conditional permanent residency. There are three ways these jobs can be created. With direct investments, investors must be able to prove that they have created ten full-time jobs for employees of the company that received the money. However, that's not the only way to prove job creation.
People who want to obtain EB-5 visas can also invest through regional centers. In this case, their investments generally create indirect or induced jobs. Indirect jobs are created at businesses that supply services or goods to the commercial entity that receives the investment. Induced jobs are any positions created and filled within the larger community as a result of money being spent by employees of an EB-5 project. Anyone confused about these two job types can check out the post right here.
Getting a Green Card Is Easy
Under the EB-5 Program, getting a green card is relatively easy. There aren't any hoops to jump through. Investors must meet requirements for investment amounts, show that the money came from a lawful source, and make sure the money creates ten full-time jobs within two years.
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