What Are the Eligibility Requirements for the EB-5 Visa? Atlanta Immigration Attorney Explains
U.S. Congress created the EB-5 visa program in 1990 to stimulate the economy by encouraging capital investments from foreign investors. According to U.S. Citizenship and Immigration Services (USCIS), in order to qualify for an EB-5 visa, the immigrant must invest in a new commercial enterprise. The enterprise must have been established after Nov. 29, 1990; alternatively, the investment could be in a commercial enterprise that was established on or before Nov. 29, 1990 if:
· The existing or purchased business is reorganized or reconstructed in a manner that creates a new commercial enterprise; or
· The investment expands an existing or purchased business to create at least a 40-percent increase in the number of employees or net worth.
If you are interested in obtaining an EB-5 visa, contact Kuck Immigration Partners. There are strict regulations that determine a person’s eligibility for an EB-5 visa. You will have to provide extensive documentation and prove that your net worth or income is sufficient to support your planned investment. Also, you will have to prove that your capital investment was acquired legally.
Call 404-816-8611 to schedule a consultation with an employment visa lawyer in Atlanta. Until then, read on to learn more about the eligibility requirements for the EB-5 visa:
What Qualifies as a “Commercial Enterprise?”
A commercial enterprise is a for-profit activity created for a lawful business. Examples include:
· Sole proprietorships;
· Holding companies;
· Joint ventures;
· Corporations; and
· Business trusts or other entities that can be either privately or publically owned.
EB-5 Visa Job Creation Requirements
The investment must preserve or create a minimum of 10 full-time jobs for qualified workers in the United States. The job creation must take place within two years – or in certain cases, within a reasonable timeframe after two years – of the investor becoming a Conditional Permanent Resident in the United States. In order to qualify for “preserving” jobs, the investor must preserve jobs in a “troubled business” as defined by USCIS.
EB-5 Visa Capital Investment Requirements
The following may be considered “capital” for EB-5 eligibility:
· Other tangible property;
· Cash equivalents; and
· Indebtedness secured by assets owned by the immigrant entrepreneur, provided that the entrepreneur is primarily and personally liable and the assets of the commercial enterprise are not used to secure the indebtedness.
The fair-market value will be used to value all capital. If an asset was acquired illegally, then it cannot be part of the capital investment. Also, the immigrant cannot borrow the investment capital.
In most cases, the alien entrepreneur must invest at least $1 million in the United States to fulfill the capital investment requirement of the EB-5 visa. However, an investment of $500,000 may be sufficient if made in a rural or high-unemployment area.
If you believe that you may qualify for the EB-5 visa program, contact Kuck Immigration Partners. An Atlanta immigration attorney will help you gather and present the necessary documents and proof of eligibility. Call 404-816-8611 today to schedule a consultation.
Posted by Charles Kuck