For those foreign investors who are interested in immigrating and investing in a new commercial enterprise or opening their commercial enterprise in the United States, one of the best visa options available is the EB-5 Immigrant Investor Visa. This immigrant visa permits qualified investors who meets a minimum investment threshold to immigrate to the United.
While there are many visa options available to immigrant investors, such as visitor for business (B-1), treaty investor (E-2), or intra-company transfers (L-1), these options are all for “nonimmigrant” visas, which does not allow one to immigrate to the United States. In other words, they authorize a temporary stay and carry with them many restrictions.
In general, the basic Immigrant Investor Program, also known as “EB-5” visa program allows for conditional residency (green card) for persons who are willing to invests US$1,000,000.00 (or under certain circumstances US$500,000.00) in new commercial enterprise that creates or preserves 10 full-time jobs for qualifying U.S. worker within two years (or under certain circumstances, within a reasonable time after two-yeas period) of the immigrant investor’s admission to the United States as a Conditional Permanent Resident.
The statute requires an EB-5 Immigrant Investor to enter the United States to engage in a “new commercial enterprise”. Although the immigrant investor is free to invest in a company that was only very recently started or establish his own, any business formed after November 29, 1990 qualifies.
Furthermore, the immigrant investor may choose to invest in a business that has been substantially restructured or businesses that have been substantially expanded after November 29, 1990.
There are two different qualifications for targeted employment areas. Investors can either choose to create jobs in a rural area, which can be anywhere outside of a city with a population of 20,000 or more or outside of a metropolitan statistical area, or they can invest in a business in an area with high unemployment (at least 150% the national average).
How an investor should pursue an EB-5 Immigrant Investor Visa requires much consideration and analysis. Furthermore, the investor must understand that there are several phases to the EB-5 Immigrant Investor Visa which all must be approved before the investor will obtain his or her green card.
Generally, the first phase requires that the investor to obtain an approved immigrant application with the US Citizenship and Immigration Services (Services).
Second, based on where the investor is, he must either file for consular processing at a U.S. Embassy abroad or file for adjustment of status in the United States. The investor, if successful, will be granted conditional residency status in the United States. After acquiring the conditional permanent resident status, the investor must be sure to maintaining the conditional residence status as required by the regulation under the EB-5 program.
Third, it is estimated that between 21 to 24 months after the EB-5 Immigrant investor applies to remove the condition on his residence that he will obtain “permanent” resident status. This is a separate and independent phase of the immigrant process which will require additional petitions to be filed with the Service.
Thus, it is only upon the completing of the third step, that the investor will obtain his permanent residence status (the “green card”).
In the EB-5 Immigrant Investor Program, experience is critical. We have it. Let our experienced immigration attorneys help you with your immigration case. When you choose Law Offices of Norka M. Schell, you gain an advisor that will be as dedicated to you success as you are.
Call us today at (212) 564-1589 to schedule your personal consultation with our Immigration Investor NYC Business Lawyer.