Requirements for the EB-5 Visa Program
Each year, millions of individuals and families come to the United States in the hopes of establishing a home and pursuing their dreams. Whether their dream is entrepreneurial in nature or an escape from a difficult political or financial situation, the U.S. provides the fertile ground necessary for many immigrants to put roots down. One immigration program that has brought its share of praise and controversy over the years is the EB-5 Visa program.
The EB-5 visa, also known as the investor visa, was established in 1990 by Congress as a means for boosting the U.S. economy through the use of foreign investment. While investors from around the world want to enter the U.S. market, the EB-5 visa can be exceedingly difficult to attain. As a matter of fact, if you want to be one of the roughly 10,000 individuals who receive this visa each year, it’s advisable that you speak with a Tampa EB-5 immigration attorney today.
There are several basic requirements for the EB-5 visa with variations within each. These include:
- The investor must be establishing a for profit business in the United States. This company can be designated as one of several business entities, including corporations, sole proprietorships, LLC’s, and general partnerships among others.
- The individual must invest $1 million into the business venture. If they are investing in a designated targeted employment area (TEA), the investment is $500,000. To be a TEA, the area must either be a rural area (geographic region outside of a city with 20,000 or more people) or a high unemployment area (unemployment rate that is at least one and a half times the national unemployment rate at the time of the investment).
- The business must create 10 new jobs over the next two years. In some instances, these jobs must be verified. These jobs can also be considered indirect positions, meaning that the presence of the company sparked job growth within the community as a result.