History of the Program
The EB-5 visa program was established in the United States in 1990. The Immigration and Nationality Act allocated 10,000 series EB-5 visas annually to qualifying investor immigrants seeking status as Lawful Permanent Residents (LPRs) on the grounds of financial investment in the U.S. based commercial enterprise. If you would like to explore the possibilities of obtaining an EB-5 visa, you need an experienced Las Vegas EB-5 visa attorney. The lawyers at MC @ FC Law have years of experience assisting clients in cases involving EB-5 visas.
Requirements in General
Immigration law in America says to qualify for a series EB-5 investor visa, a foreign national must have already invested, or be investing at least one million dollars in a U.S. based venture or at least $500,000 into specially designated “Targeted Employment Areas,” where the U.S. wants to promote job creation. Further, the enterprise must be a new venture (created after November 29, 1990) and must be a venture that will grow by employees or net worth by 140%, or the funds must be invested into a business in financial trouble, where jobs are saved. The EB-5 investors must further show the government that capital invested will preserve or lead to the development of at least 10 jobs in the U.S. for qualifying workers. Jobs created specifically to be given to immigrant workers or the applicant’s family members do not qualify under this requirement. Finally, the investor must show that money invested or that is going to be invested is actually his or hers to invest and that it was gained legally; which can be shown by tax returns, payroll records, dividend distribution reports, documentation of sale of property or stock, etc.
The money invested must be personal collateral or, if the money was given to the investor on loan, it must have been borrowed by the immigrant investor against his or her own personal assets, which are to be considered against their value at current market price, which must remain in the investor’s possession for a minimum of three years following the filing date for an EB-5 visa. The amount of capital which a foreign investor invests must remain “at risk”, i.e., the investor can’t be guarantee that he or she will be reimbursed the investment amount following the investor’s upgrade to lawful permanent resident. If you have questions about the requirements of an EB-5 visa, contact an experienced Las Vegas EB-5 visa attorney from MC @ FC Law today.
Ironing Out the Procedural Details
The first thing a foreign national who wants to earn an EB-5 investor visa is file an immigrant petition, or Form I-526, submitting proof of having met the requirements listed above with the petition. When the I-526 approval is received, the EB-5 applicant will be allowed to apply for a visa by filing an I-485 form with the US Citizenship and Immigration Services (for an adjustment to current immigration status) or by filing a DS-230 form with the U.S. state department (application for immigrant visa). When Form I-485 is approved, or when the EB-5 visa is issued, the investor immigrant is granted a two-year, conditional permanent residency visa. Following the conditional period, and upon fulfillment of all EB-5 application and maintenance requirements, removal of the conditions is warranted and the immigrant will be considered an unconditional lawful resident of the U.S. Removal of the conditions may be jeopardized by significant changes in the structure of the business or to the jobs originally promised to be created or preserved. Once conditions are lifted, holders of EB-5 visas are allowed to sell, move, close, liquidate, or modify the original investment in any way he or she pleases. An experienced Las Vegas EB-5 visa attorney from MC @ FC Law can help you with all of the procedural details to make the EB-5 visa process as smooth as possible.
How to Make a Qualified Investment Under EB-5 Requirements
Under the basic investor program for an EB-5 visa, foreign investors may invest at least the minimum required amount into any business, including his or her own company, that creates at least 10 jobs. The business that receives the investments must be personally managed by the investor applicant and must remain in operation at least long enough for the EB-5 conditions to be lifted. If it is not kept operational, not only may the investment be lost, so may the applicant’s right to remain in the United States.
One pilot program, which was launched in the early 1990s, allows investors to meet EB-5 investment visa requirements by investing in economic units known as “Regional Centers.” The job creation requirements are less restrictive than under the basic program and allow the investor to claim “directly” and “indirectly” created jobs. Under this program, the “regional center” is not simply an area on a map, it’s an actual business entity set up to coordinate foreign investment activity within the region, in line with EB-5 requirements. In order to qualify, verifiable detail must be provided to show how jobs stand to be directly or indirectly created.
Knowing the Risks
USCIS does not approve EB-5 Regional Centers according to strength or financial stability, it approves only on statutory requirements. Approval of a Regional Center does not guarantee financial success, and investors should educate themselves on the risks of Regional Center investment by speaking with relevant experienced professionals.
We Help International Entrepreneurs Obtain EB-5 Visas
With offices in Los Angeles, California and Las Vegas, Nevada, MC @ FC Law is proud of the fact that it can assist clients from all over the world with their EB5 investor visa needs. We think that everyone deserves an opportunity to live the American Dream, and investing in the U.S. economy is a great way to earn that opportunity. For more information, please call the number 702-258-1093 or email to setup a consultation with a Las Vegas EB-5 visa attorney today.
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