EB 5 Visa Requirements
In order to meet the EB 5 Visa requirements the foreign investors must comply with certain specific requirements mentioned by the United States Citizenship & Immigration (USCIS). The investor should be able to suffice the required capital investment, necessities of job creation and the capital be invested in the business that meets the EB 5 criterion. The EB visa applicant would get the permanent residency green card once the requirements are approved by USCIS. The EB 5 visa should include the applicant, spouse and their children (who should be below 21 years of age). The EB 5 visa requires the applicant to invest $1 million in any of the commercial enterprises in U.S. The investments under EB 5 visa can be done as cash, equipments, inventory, tangible property or secured indebtedness, valued as per the then fair market value of U.S. dollar.
To make the EB 5 requirements a little flexible, the USCIS makes is possible for the applicant to invest $500,000 in some commercial entity in U.S., provided the entity belongs to a Targeted Employment Area (TEA). Under the TEA guidelines the investments under the EB 5 category should be done at a rural area or at some place which suffers from high un-employment.
TEA defines the unemployment area as the location which has an employment rate that is 150% of the U.S. employment rate. The rural areas are also defined as the regions that are geographically outside of the metropolitan statistical area, as designated by the U.S. Office of Management & Budget.
In terms of job creation the EB 5 project should make sure that at least 10 regular jobs are created for the U.S. workers. Also, the jobs should have been created within a span of two years of receiving the Permanent Residency. As
the EB 5 requirements the investor can also show that the investment did create direct jobs for the employees in the commercial entity where the investments were made. However for an investment in the Regional Center the condition is to promulgate 10 induced or full-time jobs only.
The EB 5 visa also defines a business entity the gets the investment. The visa applicant can directly source the investment to a new commercial entity in a Regional Center, which must lawfully product profits. The commercial enterprise can take form of a corporation, sole proprietorships, privately or publicly owned businesses, trust or partnership firms. As a condition the enterprise must have taken origin after November 29, 1990. The investment can be done for an older enterprise subject to condition that the investment finds a 40% rise in the employment at the enterprise. The investments under an EB 5 visa are more advantageous if done for a project run by the Regional Center, as the visa applicant falls free of running any EB 5 project independently. The EB 5 visa requirements are made with a purpose to make the investor a part of economy which leads to national growth.
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