Did you know you can become a permanent United States resident by investing money into a US business?
If you are interested in becoming a US permanent resident via EB-5, below are a few things you should now about EB-5 investment program:
What is the Qualifying Amount of Investment?
The immigrant investor must invest or be actively in the process of investing $1.000.000.
The qualifying amount of investment is $500.000 for targeted employment areas which are rural areas and areas with high unemployment rate. A mere intent to invest or prospective investment arrangements without present commitment will not suffice.
What Form Must the Investment Take?
The investment must take the form of contribution of capital that has been placed at risk for the purpose of generating income.
The USCIS rules define capital to include cash, cash equivalents, equipment, inventory, other tangible property, and indebtedness secured by assets owned by the investor. The required investment cannot be made in the form of a loan to the company. The foreign investor also has to show that the invested capital was obtained through lawful means.
Which Companies Qualify for Investment?
The qualifying investment must be in a new commercial enterprise.
An enterprise established after November 29, 1990 is considered a new enterprise even if the investor did not participate in its establishment. When a person makes investment in a business established on or before November 29, 1990 the investment will qualify for E-B5 purposes if the investor establishes one of the following: (1) the investment will result in a substantial change in the business; or (2) the business will be restructured or reorganized.
What Role Shall the Investor Play in the Company?
The investor must be engaged in the management of the company where he invests.
This can be done either through managerial control or through policy formulation. This requirement can be satisfied by becoming a corporate officer or being a member of the board of directors. Maintaining a purely passive role towards the investment cannot satisfy the requirement of USCIS rules.
What is the Job-Creation Requirement?
The enterprise must benefit the US economy by creating full-time jobs for at least 10 qualifying employees.
There is an exception to this rule for troubled businesses where the investment does not have to create 10 new jobs but the investor has to show that the number of existing employees is or will be maintained at no less than the pre-investment level for at least two years.
Is there an Annual Cap on E-B visas?
There is an annual limit of 10000 E-B5 visas per year. Until now the annual E-B5 cap has never been reached.
When Does the Investor Get His Green Card?
The investor is initially granted conditional residence for two years.
Prior to the expiration of two years the investor must file a petition requesting removal of the conditional basis of the residence. The investor must show that he still meets the conditions for participation in the program.
Do you need help deciding on what steps to take next? A Glendale immigration lawyer at Kaass Law can help you out with any sort of legal assistance you require.