Many residents come to the United States to pursue “The American Dream,” a concept that some people believe is unattainable. However, many immigrants found a new way to attain the unachievable and secure economic stability in the United States.
The new technique is investing in the U.S. economy. Congress created a visa program, the EB-5 program, in 1990 that allows foreign investors to come to the United States if they invest capital into local jobs. It stimulates job creation and encourages diversity in American companies.
There are specific requirements to meet before qualifying for the EB-5 program. as an alien investor, you need:
- A new commercial enterprise – You need documentation to prove you are investing or invested in a “for profit” enterprise in the United States.
- Manage the new enterprise – You need to engage in the management of the company and policy formulation.
- Investments – You also need documentation that you are investing the required capital, which is $1 million or $500,000 if it’s within a Targeted Employment Area, or TEA.
- Create jobs – You will need to create at least ten full-time positions for employees.
- Preserve jobs for troubled businesses – Or you can help existing employees maintain their employment for at least two years.
The government has specific standards for classifies as a “troubled business” or a TEA, so it’s critical for investors to comprehend all the terminology before the application process. It may save you from a potential denial or mistakes in your application.
When you finally apply, you need to file a form I-526 or an Immigrant Petition by Alien Entrepreneur. It allows you, as an investor, to state how your investments are creating jobs in the United States and what other qualifications you fulfill.
If your I-526 form is approved, you will either file a form I-485 or a DS-250 form. The document you choose depends on what you want from the immigration process. If you’re going to adjust your status to a permanent residency, you file the I-485 form. If you are applying for an Immigrant Visa and Alien Registration, you follow up on the DS-260.
After the approval of your second form, you and your immediate family members are allowed access to the United States for two years. It may be a relatively simple process depending on the applicant and their preparation.
To clarify on the requirements or receive guidance about the EB-5 program, consult with an attorney who specializes in EB-5 immigration.