What You Need to Know About Settling in the USA Under the EB-5 Visa
The United States of America has more opportunities to move and settle in than most nations around the world. Ironically, it is due to these opportunities that they have begun to take greater stances against immigration. Those who overstay their visas or enter the country are being cracked down on, and indeed even rich investors are experiencing greater barriers than before. The EB-5 visa has recently been increased after the extension ended on September 30, 2018. It means a higher financial barrier before your investment will be considered to qualify you for a green card.
The EB-5 Visa
Before September 30, 2018, the EB-5 allowed foreign investors to come and build up their business and stay in the United States. The investment requirement was $500,000, and you needed to hire at least ten employees. Your business also needed to directly cater to and benefit Americans. After the extension deadline, minimum requirements are likely to increase to upwards of $1.3 - $1.8 million.
Who Can Apply for EB-5?
Investors, their partners, and any unmarried children under the age of 21 can relocate to the United States with a green card under the EB-5 visa. After living in the country legally for five years, they can then apply for citizenship, which will provide them with full rights. So long as you have the capital and are intended to invest it in an American business as per the USCIS’ requirements, you will be eligible to enter the United States under this visa.
Get Help with Your EB-5 Visa
There are a lot of requirements you must fulfill before you can apply successfully for an EB-5 visa. Not only do you need to meet the qualifications, but so too does your business. For example, if you are looking to buy a company in the United States, it must either have been established after November 29, 1990 or have been restructured to the point where it can be considered a new commercial enterprise. As you could imagine, this leaves a bit of room for interpretation. Generally speaking, investments will need to:
- Be a minimum of $500,000 (though this amount is likely to increase)
- Create 10 permanent full-time jobs for American workers
This visa has been in place since the 1990s, and though likely to be updated is still a great option for investors and the American economy.
Hiring an immigration lawyer that can help you with your EB-5 visa after the EB5 extension is critical to a successful application. Hirson Immigration specializes in foreign investors seeking to invest and relocate their families. They can help you navigate the murky waters of the EB-5 visa and will help you make your investment adhere to EB-5 requirements.
Apply for American Citizenship
So long as your home country allows for dual citizenship, then your next move after successfully moving and living in the United States of America is to apply for US citizenship. You are eligible to apply for this citizenship after five years.
Getting legal help from an immigration lawyer can smooth the process of your application and help speed up your visa approval.