A Quick 5 Step Guide to the EB-5 Visa Program
If you are a foreigner willing to pursue the American dream, you should consider applying for the EB-5 visa program. The EB-5 visa is a special kind of visa that’s given by the US government to investors who will invest in a new commercial enterprise in the U.S. and create jobs for Americans. Once you get this kind of visa, you are allowed to migrate to the US with your family including your spouse and kids under 21 years old.
Although many people apply for EB-5 visa, not all petitions are approved every year.This is because some applicants overlook the crucial requirements. Below highlights some important requirements to remember when applying for the EB-5 visa program.
- Get the Money
The EB-5 visa is a visa category for the wealthy. Anyone who is interested in this visa program must be ready to invest at least $500,000 in the U.S. If the business is based within a rural area with high unemployment called a “TEA”, you are expected to raise at least $500,000. The investment amount is increased to $1,000,000 if the new commercial enterprise or business is not in an area with high unemployment. Each investment is required to create 10 jobs for American workers. You must also have obtained the money being invested through legitimate means.
- Find Your Ideal Project
Before you apply for an EB-5 visa, it’s recommended that you look for the best project to invest in. Reviewing the projects business plan and securities offering documents will contain a lot if information about the investment and help make your decision. It’s also very important to invest with a project that has a developer with a good track record. Looking for a regional center with a good history of successful projects is a good place to start.
- Prepare Petition Documents
Before you present your petition, you should ensure that all the necessary documents are enclosed or attached in the application. Working with a regional center will allow them to help you with this process and make it much easier for you and your family to make sure all the correct paperwork is submitted. U.S. Immigration Fund is a strong EB-5 Regional Center that can help with this.
- Consult Immigration Attorney
When applying for an EB-5 visa, it’s recommended you consult an immigration attorney. The attorney will offer legal counsel to ensure that you are moving through the process correctly. The advantage of hiring an attorney is that he will handle all the paperwork on your behalf so you can focus on your daily routine. Many regional centers have immigration attorneys that they have developed relationship with that you can work with together.
- Be Patient
Once you have filled the EB-5 visa petition in your country, you should wait for it to be approved. It actually takes approximately 18 months for these kinds of visas to be approved. You then have an interview that normally comes once your application has been approved by the US embassy.After this, your on your way to your permanent green card.