If I told you that there is a way of obtaining a green card without playing the lottery, would you believe me?
What if you, your friends, your business partner and few other people working together can accomplish that goal? That would make it a lot easier for yourself and your friends to get the green cards and move to the greatest country in the world. No this is not a story, it’s a reality, you just need to learn what EB-5 is, and how you can qualify for it.
What is EB-5 Program?
EB-5 program is an idea to stimulate US economy by creating jobs in the States by foreign investors. By making necessary investment in a commercial enterprise and creating (preserving) ten US workers, you quality for the EB-5 program.
Commercial enterprise – is ongoing business conduct that can be:
- A sole proprietorship
- Holding company
- Joint venture
- Business trust or other entity, which may be publicly or privately owned
Important concept is that business needs to be engaged in a for-profit activity formed for the ongoing conduct of a lawful business.
In order to qualify for EB-5 program job creation must take place. Having at least 10 US workers (citizens working) full time (40 hours a week) for two or more years is the procedure that can qualify any foreign investor for a green card (given that all the other circumstances that we will cover as well are met).
Creating direct and indirect jobs. Direct meaning that jobs are for qualified employees located close to the commercial enterprise that is qualified for EB-5 program. Indirect are those jobs created collaterally (as a result) of investment in a commercial enterprise. Regional center must be notified of any indirect jobs, and that’s the only way that it can count as a job created. Of course many foreigners choose to have an immigration attorney which will guide them through the process to make it easier.
In most cases foreign investors may need to look for job preservations in troubled areas.
Troubled business enterprise that has been in existence for at least two years, and that has accumulated loss during the past 12+ months is labeled as troubled business. This automatically qualifies a foreign investor for EB-5 program.
Qualified employee – US citizens and permanent residents are classified as qualified emplouyees, although there is a new trand (depending on the state) where other immigrant workers can qualify, as long as they are authorized to work in the States. Foreign investors or family members cannot be qualified, therefore they need to hire qualified employees by the US law.
Investing your cash into a business in the States gets you what you need, an EB-5 visa, green card, later on password as well. But how much do you need to invest, what does capital investment mean and how many people can invest?
Capital is simply cash, inventory, tangible property and equipment valued at fair market US value dollars. All assests must be legally obtained (not through criminal activity) and cannot be borrowed.
- General. The minimum qualifying investment in the United States is $1 million.
- Targeted Employment Area (High Unemployment or Rural Area, but sometimes it can be in a metropolitan area if the business is not doing well). The minimum qualifying investment either within a high-unemployment area or rural area in the United States is $500,000.
Directi link to government EB-5 program can be found here.