EB-5 Investment Creation
Cupertino 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 Cupertino 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 guides you through everything and makes everything straightforward [as to] what is needed and what is required.
I honestly could not have done it without you. I appreciate the time you gave me.
I very much appreciate your guidance as does everyone in the office.
Thanks to Mr. Widman I now have the opportunity to do the things I could not have done before and I am very excited about that.
We thank our lucky stars that we had this attorney to work with and to guide us through the intimidating process of adjustment to permanent residency.
Contributed numerous hours of pro bono services to local, community-based organizations
Persuaded U.S. Department of State to withdraw its finding of inadmissibility
Persuaded USCIS to retract notice of rescission of adjustment of status and to approve related citizenship application
Secured certification of helpfulness to law enforcement for U visa petitioner
Secured multiple grants of Deferred Action for Childhood Arrivals (DACA)
Secured post-conviction relief in state court which became basis for successfully terminating removal proceedings.
Successfully moved to reopen (Form I-290B) USCIS denial of application of Form I-485
Successfully obtained approval of employment-based adjustment of status application under AC21
Successfully obtained H-1B petition approval for change of employer and extension of status under AC21
Successfully obtained I-601 waivers of inadmissibility