- 06 Jun
Understanding the EB-5 Visa
The EB-5 visa is for immigrants and is based on employment. It allows foreign nationals to potentially qualify for green cards based on job creation and investment in the United States. The program was launched back in 1990 as a means of stimulating the economy via capital investment and employment creation by foreign investors. With this program, foreign nationals may be able to obtain lawful permanent residence for themselves or family members such as a spouse or their minor unmarried children.
To qualify for lawful permanent residence, an investor has two options. They can go through the Basic Program which requires investing a minimum of $1,000,000 in a U.S. business that will create or preserve at least 10 full-time jobs for U.S. citizens or employment-authorized immigrants in the country. And then there is the Immigrant Investor Program which puts aside visas for a specific set of investors in “Regional Centers”. These centers are considered businesses and development projects that have jurisdiction over a certain geographic area and are aimed at concentrating pooled investment in defined economic zones.
There are certain risks that come attached with these programs. Investors may have trouble creating the minimum ten full-time jobs. The process to secure permanent resident status can also take five years or perhaps longer. If you have questions, talk with our immigration attorney.
This information is provided by Miami bankruptcy lawyer Alonso, Perez & Santos, LLP. Our areas of practice include bankruptcy, insurance litigation, debt harassment, credit card defense, foreclosure defense, immigration law Miami, condominium law, business start-ups, and more. Call 305-676-7545 to speak with one of our attorneys and receive a free consultation. We look forward to working with you.
This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.