It is often said that money cannot buy happiness. However, wealth can open the doors to permanent residence in the United States — a much-desired legal status that, for many, is beyond price.
Immigration law recognizes the immense value that foreign investors provide by strengthening the U.S. economy. To that end, it establishes a visa category for investors and entrepreneurs who help stimulate American job growth.
General Requirements For EB-5 Eligibility
The EB-5 visa is available for foreign nationals who have invested at least $1 million in a new U.S. business enterprise. The enterprise must also employ at least 10 full-time U.S. workers. Unlike many other employment-based visas, the investor does not need a U.S.-based sponsor, nor is labor certification required. And because the availability of these visas typically exceeds the demand, backlogs are often minimal.
These two simple requirements and the relative swiftness of the process, however, do not belie the complexity of the effort involved in successfully obtaining an EB-5 visa. Strict documentation is required to prove eligibility. For example, the investor must prove that the investment funds came from a lawful source. Any missteps or deficiencies can potentially derail the entire application.
Limited Exceptions To The General Requirements
In certain situations, the investor need not start a new business from scratch, but can purchase and expand an existing business or rescue a troubled venture. Generally, however, the prospective immigrant must demonstrate active involvement in the business venture and cannot remain wholly passive.
The $1 million minimum is reduced to $500,000 for those who invest in certain Target Employment Areas or approved Regional Centers. These opportunities typically boost economic growth in areas with high unemployment rates or limited job growth.
Invaluable Guidance For Investors And Entrepreneurs Worldwide
Investors and entrepreneurs from diverse industries turn to Igbanugo Partners Int’l Law Firm, PLLC — an immigration firm in Minneapolis, Minnesota — for guidance on EB-5 visas. Our proven track record of high approval rates reflects the exceptional level of diligence that our lawyers bring to every visa petition. We not only offer astute counsel on the nuances of immigration law, but also business-savvy insights, taking into account the practical challenges our clients may face.
Learn more by contacting us online or calling 612-746-0360. Our attorneys handle investor and entrepreneur visas (EB-5 visas) for clients from around the globe.