Here is All That you Need to Know About The EB-5 Visa Requirements
Foreign investors need to meet certain fixed criteria as per US Citizenship and Immigration (USCIS) requirements in order to obtain permanent residency through the EB-5 visa program. The general requirements in this regard are the amount of minimum capital investment, the requirement of job creation, and the business entity receiving the funds must qualify for the EB-5 program. The EB-5 visa applicant, along with their spouse, and children (under 21 years) will receive the green card once all the necessary requirements have been met and approved by the USCIS.
- The requirement of the minimum investment amount
The EB-5 applicants are to make a minimum investment of $1,000,000 in a US enterprise. Further, if the investment is being made in an entity that is located in the targeted employment area (TEA), the requirement for minimum investment amount is reduced to $5,00,000. To qualify as a TEA investment, it should have been made in a rural area or in any other area where there is a high level of unemployment.
The areas of high unemployment are those in which the rate of unemployment is minimum 150 percent of the national rate of unemployment at the time of making the investment. Rural areas are those geographic locations which are located outside of a city and wherein the population is above 20,000.
The EB-5 investment can be made in the form of cash, equipment, inventory, tangible property, secured indebtedness, or equivalents of cash. In all its forms, the investment shall be valued based on USD fair market value.
- The requirement of job creation
As per the directive of USCIS, the investment made under EB-5 visa requirement must result in providing full-time jobs to at least 10 US workers. The said jobs must be created within 2 years of the conditional permanent residency being granted to the investor. In a few cases, the investors will have to demonstrate how their investment in a US enterprise has led to the creation of jobs for a minimum of 10 workers.
- Business entity for investment as per EB-5 visa requirement
There are numerous types of business entities wherein the EB-5 visa applicant may invest. Generally, the applicants either make direct investment in a new commercial setup or they invest in a regional center. The new commercial entities may be one out of limited or general partnerships, corporations, business trusts, sole proprietorship, or other publicly or privately owned business structures. Any new commercial set up must have been established post-November 29, 1990, to qualify for the EB-5 visa requirement.
Alternatively, older commercial entities may also qualify the requirement if the investment made therein leads to a 40 percent rise in the strength of employees or net worth, or it has been structured so that it leads to the emergence of a new commercial entity.
In spite of fulfilling the requirements as mentioned above, an applicant may be ineligible for a US visa. The reasons for such ineligibility include the furnishing of fraudulent documents, past criminal records against investor or against his/her family members, drug trafficking, and overstaying the previous visa. You will be informed by the counselor officer if you appear ineligible on any of the aforementioned grounds.