EB-5 Investment visa is meant for the person who is a green card holder and wants to make an investment in US. It is not important for the applicant to manage the business on daily basis and has a choice to either make an investment in an existing business or a new business. An investor need not to have a holding in the capacity of a major owner as he may be minority owner of the business.
One may qualify for an EB-5 Investment visa as follows:
- Invest $1 million and hire ten employees anywhere in the USA
- Invest $500,000 and hire ten employees in an area where the unemployment rate exceeds the national average unemployment rate by 150%
- Invest in a regional center.
Professionals or people from the business industry or just about anybody looking for an investment may apply the EB-5 Investment visa. In fact a person who simply wants to facilitate a child’s education and retirees may apply for this visa as the visa permits the investors to be involved in charity or part time work. The EB-5 Investment visa proves to be a cheaper bet rather than starting a business from scratch and maintain it.
The applicant must provide following documents along with his application for EB-5 Investment visa:
A. A proof of the source of investment funds
B. Applicant’s complete biographical information
C. Documents stating five years of tax returns
D. Bank records since last five years
E. Proof of owing any other business along with its financial statement
F. Any other document specific to the applicant
INS needs these documents as the proof of an honest course of all the dealings. Information of capital gathered from any specific transaction, such as sale of a house, inheritance or gift all must be presented with a copy of official statements of the transaction occurred.
After gathering all the needed documents the following procedure must be followed to process the EB-5 Investment visa application further:
1. Filling up the I-526 Petition with the California Service Center as the alien entrepreneur which is then sent back to INS in order to certify the investment and the applicant to be eligible for the visa.
2. After the petition has been approved either you can send the form I-485 and supporting documents to the INS regional processing center nearest to your US residence or else if you are from abroad than you must wait for notification from the Embassy in your home country to prepare documents for the visa interview. The purpose of the Adjustment of Status or consular visa interview is to make sure you are not subject to a ground of exclusion, e.g. a criminal past, infectious diseases, etc.
3. Once your application is approved, you will become liable to receive a form evidencing the approval and as well as a travel document. A temporary green card will also be availed to you, which you should use within six months by entering US in case you are from any abroad country.
For more information about attaining a EB-5 visa or a Green Card, please schedule a consultation with one of our immigration attorneys today.