What is EB5 visa? This visa category was created by Congress in the year 1990 for immigrants who want to enter the United States and for a commercial enterprise needed to benefit the economy. It is also said to be an attempt to create some full-time jobs for the people in the US.
The requirement to get an EB 5 visa can be difficult. There are usually more than 1,000 people immigrating in this category, but only 15 percent of the applications are approved by the USCIS. There are several legal requirements that are needed to qualify for this visa.
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With regards to a single new commercial business, it can be for employment/ investor-creation classification with one and more investor. These requirements comprise the petitioning investor financing the proper amount in addition to if the investor is actually working on the process.
The investments must be able to produce at least 10 full-time jobs as well. The EB5 visa has to be a commercial enterprise. A commercial enterprise is a profit component which is working as a legalized business. These can be acknowledged as a business trust, corporation, general or limited partnerships, joint undertakings and holding businesses.
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Nevertheless, in 2002, some modifications were made and the term ‘new commercial enterprise’ came into existence. Now there was no requirement for proving that the business was recognized but the person only has to show the amount of investment in a commercial venture.
However, by reforming a prevailing business after it has been bought over, the investor becomes eligible for the EB5 USA visa. Moreover, the investor can also produce a new business by growing an established one provided there is an increase of 40% in the net value of the company by the expansion.
Getting the EB5 Green Card can be difficult. Hence, it is recommended to hire a skillful and qualified immigration lawyer for your help. They can help provide support in all facets of immigration law comprising the EB5 Green Card category.