EB-5 Visa Program Extended through September Despite Calls for Reform
The EB-5 visa program allows foreign entrepreneurs and their families to become lawful permanent residents in the United States if they make a qualifying investment in a U.S. enterprise. On April 28, despite a flurry of proposals to reform the EB-5 program, Congress passed a stopgap funding bill that extended the program in its current form through September.
As many potential investors have heard, there have been calls to adjust the minimum investment amounts, introduce stricter regulatory processes, and reclassify targeted employment areas.
If you are interested in acquiring a green card through the EB-5 program, you should take action before potential reforms limit their issuance. Attorney Charles Kuck can evaluate your situation, answer your questions about the EB-5 visa program, and help you navigate the petitioning process.
Charles Kuck is the past President of both the American Immigration Lawyers Association(AILA) and the Alliance of Business Immigration Lawyers (ABIL), and he has the knowledge and resources to help you avoid delays and mistakes that could lead to a denial of your application. Call 404-816-8611 to schedule a consultation with an Atlanta EB-5 attorney at Kuck Immigration Partners.
How Much Money Do I Need to Invest to Obtain an EB-5 Visa?
There are two primary requirements for obtaining an EB-5 visa: making a qualifying investment and meeting the program’s job creation requirements. Currently, the minimum capital investment required by the EB-5 program is $1 million if the capital is invested in a new commercial enterprise; however, if the capital is invested in a targeted employment area, the minimum investment is only $500,000.
A targeted employment area is a rural area or a region with a high unemployment rate. A rural area is defined as an area located outside of what the Office of Management and Budget considers a metropolitan area. Alternatively, a region may qualify as a rural area if it is outside the boundary of a city or town with a population of at least 20,000 based on the decennial census.
A “high unemployment area” is an area where the unemployment rate is at least 150 percent the national average rate.
What Counts as a “Capital Investment?”
U.S. Citizenship and Immigration Services considers capital to be cash, cash equivalents, tangible property, equipment, inventory, and indebtedness secured by assets owned by the foreign investor, as long as the assets of the new commercial enterprise are not used to secure the indebtedness and the foreign investor is personally and primarily liable.
The value of the invested capital is based on the fair-market value. The foreign investor must be able to prove that he or she acquired the capital by lawful means. Borrowed assets and money do not qualify as investment capital.
If you would like to speak with an EB-5 lawyer about obtaining an EB-5 visa, contact Kuck Immigration Partners. Charles Kuck is an immigration attorney in Atlanta who can help you navigate U.S. immigration laws and avoid mistakes that would cause delays or a denial of your application. Call 404-816-8611 today to schedule a consultation.