The EB-5 visa program is a popular option for foreign investors seeking permanent residency in the United States. This program, established by Congress in 1990, aims to stimulate the U.S. economy through job creation and capital investment by foreign investors. Understanding the eligibility requirements and associated costs, such as the EB 5 visa cost, is essential for prospective applicants. Explore here the key eligibility criteria for obtaining an EB-5 visa.
Investment amount:
The primary eligibility criterion for an EB-5 visa is the investment amount. As of the latest regulations, an investor must commit either $800,000 or $1,050,000, depending on the location of the investment. The lower amount applies if the investment is made in a Targeted Employment Area (TEA), which includes rural areas or regions with high unemployment. The higher amount is required for investments in areas outside of TEAs. The investment must be made into a new commercial enterprise that creates jobs and complies with all EB-5 program regulations.
New commercial enterprise:
To qualify for an EB-5 visa, the investment must be made in a new commercial enterprise. This enterprise must have been established after November 29, 1990, or must be a troubled business that has been in existence for at least two years and has suffered a 20% reduction in net worth or annual revenue. The business must also be for-profit and engaged in lawful business activities. It should not be a passive investment, but rather involve active management or control by the investor.
Job creation requirement:
A vital component of the EB-5 visa eligibility is the job creation requirement. The investment must create at least 10 full-time jobs for U.S. workers within two years of the investor’s adjustment of status or admission to the U.S. This requirement aims to stimulate economic growth and employment. The jobs created must be direct or indirect, depending on whether the investment is made directly into a business or through a Regional Center.
Source of funds:
Investors must demonstrate that their investment funds come from lawful sources. USCIS requires detailed documentation to prove that the money used for investment was acquired legally. This may include financial statements, tax returns, and evidence of the legal source of funds, such as employment income, business profits, or inheritance.
Personal and family background:
Applicants must undergo a background check and provide evidence of their personal history. This includes submitting police clearance certificates and other documents to prove that they do not have a criminal record or pose security risks. Additionally, investors must be able to prove their intent to make a genuine investment and not just to use the EB-5 program for residency purposes.
