Moving overseas for greater opportunities is a serious life decision requiring extensive planning and consideration. For the majority of people, living abroad is synonymous with higher wages or better living standards. But gaining this experience can prove to be significantly beneficial in all aspects of your life.
Introduced in 1990, the EB-5 visa aims to boost foreign capital inflow for America’s development. It allows qualifying global citizens to reside and work indefinitely in the United States. The Immigrant Investor Program office under the US Citizenship and Immigration Services agency oversees EB-5 visa administration and policies.
Employment base 5th preference visa program or the EB-5 visa program provides an effective route to get PR (Permanent residence) status in the United States Of America by investing in American businesses. Interested foreign nationals must satisfy rigorous eligibility criteria to qualify under this pathway. Besides the primary applicant, approved EB-5 investors can also avail benefits for their spouse and unmarried children below 21 years.
Benefits of the EB-5 Investor Visa Program
- An assured route to attain Permanent Residency in the USA in a short period of time.
- A chance to get jobs or set up one or multiple businesses in the States without worrying about work permits, sponsorship, processing delays, expiry of visa etc.
- Study in some of the best institutions worldwide.
- Reduced tuition fees in comparison to foreign students
- Your spouse will be given a green card instantly, enabling them to live, work, and travel without spouse-specific legal limitations, just like any other permanent resident.
- Increased worldwide mobility because of the US green card holder’s benefits for visa-free travel.
- You can apply for American citizenship and maintain your Indian heritage by requesting Overseas Citizens of India status, provided you meet the necessary eligibility conditions.
EB-5 Investor Visa Program Requirements
The US EB-5 Immigrant Investor Program has the following requirements:
Individuals must invest in a commercial enterprise associated with government-approved regional centres. The minimum required investment is USD 1,050,000. However, if the investment is made in a targeted employment area (TEA), which is an area with high unemployment or a rural area, the minimum investment is reduced to USD 800,000. TEAs are designated by the state authorities or can be a qualifying investment in a regional centre.
It is important to demonstrate that the invested capital has been lawfully obtained. You must provide evidence to prove that the investment funds were obtained through legal means, such as income from a business, salary, investments, sale of property, inheritance, or gifts. Proper documentation and a clear paper trail of the funds are typically required.
The primary goal of the EB-5 program is to stimulate the US economy and create jobs for US workers. As an investor, you must demonstrate that your investment will lead to the creation or preservation of at least 10 full-time jobs for qualifying US workers within two years of the investor’s admission to the US.
Documents required
- Passport copies
- Previous US immigration petitions, if applicable
- Proof of business ownership and licences
- Last 5 years tax returns and bank statements
- Paper trail for lawful source of investment capital
- Comprehensive EB-5 project business proposal
- Organisational and partnership agreement documents
- Job creation methodology and economic models
- Approved I-526 petition notice
- Evidence that the investment amount has been allocated to the project
EB-5 Visa Application Process
The EB-5 visa application involves multiple stages:
- Identify a qualifying EB-5 project opportunity through approved regional centres and due diligence.
- Submit I-526 petition with business plan and source of funds documentation to USCIS. Processing time is typically 1-2 years.
- Upon I-526 approval, the foreign national investor can apply for a conditional green card for them and dependents through Form I-485.
- Within 90 days of conditional green card approval, the investment must be made into the EB-5 project.
- In 21-24 months, when investment capital has created 10 full-time jobs, file I-829 to remove conditions and obtain a permanent 10-year green card.
- After 5 years as a permanent resident, eligibility opens up for applying for U.S. citizenship.
Nova Quinta helps individuals obtain permanent residency, investor visa for the USA from India or second citizenship via investment programs. Our team believes in working with a customer-centric approach that helps you take the next steps in your success journey.