EB 5 Investment Creation
EB-5 Investment Creation
San Jose Business Immigration Lawyer
Also known as EB-5, the Immigrant Investor Program was created by Congress to stimulate the U.S. economy. Section 203(b)(5) of the Immigration and Nationality Act (INA), allocates 10,000 "EB-5" immigrant visas per year to qualified individuals seeking Lawful Permanent Resident (LPR) status in the United States.
EB-5 Visas are set aside for investors who invest in new commercial enterprises, including those:
- Established after November 1990; and
- Established on or before November 1990 (if the business is purchased and restructured or reorganized so that a new commercial enterprise results, or expanded through investment so that a 40% increase in the net worth or number of employees occurs)
Foreign investors have to meet United States Citizenship and Immigration Services (USCIS) requirements if they desire to obtain permanent residency through the EB-5 Visa program.
The Requirements You Must Meet to Obtain an EB-5 Visa
A commercial enterprise can include a sole proprietorship, a partnership, a holding company, a joint venture, a corporation, a business trust or other entity that is publicly or privately owned.
Job creation requirements involve the following:
- Create or preserve at least 10 full-time jobs for qualifying U.S. workers within two years
- Create or preserve either direct or indirect jobs
Direct jobs are "identifiable jobs for qualified employees located within the commercial enterprise that the EB-5 investor has invested his/her capital in." Indirect jobs are "jobs shown to have been created collaterally or as a result of capital invested in a commercial enterprise affiliated with a regional center by an EB-5 investor." In the event of a troubled business (or if you invest in a declining business with a net loss for 1 or 2 years equaling at least 20% of total net worth), investors may only be credited with preserving jobs.
Capital means cash, equipment, inventory, other tangible property, cash equivalents, or an indebtedness secured by assets owned by an alien entrepreneur. The minimum qualifying investment in the United States is $1 million. The minimum qualifying investment for an area with a high-unemployment rate or that is primarily rural is $500,000.
If a foreign national investor's petition is approved, the investor and his/her dependents are granted conditional permanent residence in the U.S. (valid for two years). Ninety days before the conditional permanent residence expires, the investor must prove with documented evidence that the full investment was made and that 10 jobs have been maintained, created or will be created within a reasonable time period.
For more information, check out the following beneficial links:
Looking for a San Jose business immigration attorney with more than 20 years of legal experience? Attorney Widman at The Law Offices of Timothy D. Widman would love to answer any of your questions concerning obtaining EB-5 status/EB-5 Visa. He has assisted investors and businesses from a broad range of industries with their immigration needs. Whether you are seeking to invest in a business venture in Santa Clara, Mountain View, Sunnyvale, San Jose, Milpitas, Fremont, or a surrounding area, we can help.
“He always responded quickly to emails and kept us in the loop and feeling like he was always there for us during the entire process.”
“His willingness to listen and communication skills are very great.”
“He is highly intelligent, meticulous, thorough, and best of all takes a very personal, involved, and caring approach when handling your case.”