EB-5 Investment Based Green Card
Employment-Based, EB-5 Visa Through Investment of $1,800,000 or $900,000.00
Anyone seeking a green card in this category must prove that his/her funds were earned legally and must be content with a two-year conditional green card, which must be later converted into a permanent green card.
New Business Enterprise:
To qualify, you must invest or be in the process of investing at least $1,800,000. If your investment is in a designated targeted employment area (discussed further below) then the minimum investment requirement is $900,000.
Benefit the U.S. economy by providing goods or services to U.S. markets.
Create full-time employment for at least 10 U.S. workers. This includes U.S. citizens, Green Card holders (lawful permanent residents) and other individuals lawfully authorized to work in the U.S. (however it does not include you, the immigrant, or your spouse, sons, or daughters.
Be involved in the day-to-day management of the new business or directly manage it through formulating business policy – for example as a corporate officer or board member.
Targeted Employment Area is defined by law as “a rural area or an area that has experienced high unemployment of at least 150 percent of the national
average.” For further detail click on the Laws section of this website and access section 203(b)(5)(B) of the Immigration Nationality Act (INA).
Expanding an existing business:
An EB-5 investor can also create a “new” business by expanding an existing one. Through this avenue, an EB-5 investor must either expand the net worth of an existing business or the number of employees by 40%. If an investor chooses to increase the number of employees, he/she could be required to create more than 10 jobs; the larger the number of existing employees, the more of a burden this becomes. Our Florida EB-5 Visa Lawyers are ready to help you in such a case.
To qualify you must:
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Invest in a business that has existed for at least two years.
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Invest in a business that has incurred a net loss, based on generally accepted accounting principles, for the 12 to 24 month period before you filed the Form I-526 Immigrant Petition by an Alien Entrepreneur.
EB-5
Invest in a business that has incurred a net loss, based on generally accepted accounting principles, for the 12 to 24 month period before you filed the Form I-526 Immigrant Petition by an Alien Entrepreneur.
The loss for the 12 to 24 month period must be at least equal to 20 percent of the business’s net worth before the loss.
Maintain the number of jobs at no less than the pre-investment level for a period of at least two years.
Be involved in the day-to-day management of the troubled business or directly manage it through formulating business policy, for example, as a corporate officer or board member.
The same investment requirements of the new commercial enterprise investment apply to troubled business investment ($1,800,000 or $900,000 in a targeted employment area).
A Regional Center, Only $900,000.00 Investment Required
Is an entity, organization or agency that has been approved as such by the USCIS;
Focuses on a specific geographic area within the United States; and, seeks to promote economic growth through increased export sales, improved regional productivity, creation of new jobs, and increased domestic capital investment.
Demonstrate that a “qualified investment” (see below) is being made in a new commercial enterprise located within an approved Regional Center; and, show, using reasonable methodologies, that 10 or more jobs are actually created either directly or indirectly by the new commercial enterprise through revenues generated from increased exports, improved regional productivity, job creation, or increased domestic capital investment resulting from the pilot program. If you are an investor planning to apply for an EB-5 visa, consult with Alex Barak.
There are dozens of Regional Centers located throughout the United States.
If you do not actively want to manage a business you should consider the $900,000.00 Regional Center option, as you will not be required to actively manage a business, so it is often cheaper to utilize this category rather than start and maintain your own business. You can live anywhere in the country. You will be a passive investor with no work or management duties to perform. Some analysts consider this version of EB-5 as buying a green card. Some Regional Centers provide a condominium unit to the investor; others just provide expected profit sharing. When considering this option, be sure to discuss your case with an experienced attorney.
There are many start-up companies advertising all over the place for a green card for $900,000.00. These are high-risk enterprises that need to be heavily scrutinized by an attorney familiar with the EB-5 visa regulations. No one should approach any of these companies without first hiring a very experienced attorney.
Complete biographical information for each application and the principal applicant must prove the legal source of the investment funds. The USCIS (United States Citizenship and Immigration Service) requires a number of years of tax returns, bank records, proof of ownership, and financial statements in any business. If your capital comes from a specific transaction such as a house sale, inheritance or a gift you must provide documentation for the transaction.
Green Cards?
The question here is whether two persons may avail themselves of one business investment for a green card. The answer is yes if each makes a $1.8 million dollar investment and if each’s 1.8 million dollars results in expansion of an existing business by 40 percent of the pre-investment number of jobs or net worth or, if the business can be researched and determined to be a “troubled business,” as an enterprise that has been in existence for at least two years and has incurred a net loss level — during the 12- or 24-month period prior to the priority date on the immigrant investor’s Form I-526 — of 20 percent of the troubled business’ net worth prior to the loss, then just keeping the current number of employees is enough.
Upon approval, you receive a two-year conditional green card. During the final 90 days of the two-year conditional green card, you must file for removal of conditions using form 1-829 to obtain a fully unrestricted green card. This procedure permits USCIS to verify that you have maintained your full approved investment and the required number of jobs have been created in your regional center program.
WARNING, ALERT!
No client seeking EB-5 status through $900,000.00 investment in a Regional Center should do so without having an experienced attorney meet with the directors of the Regional Center and to perform some due diligence on your behalf. A monetary investor must invest some money in a good experienced attorney to verify the program.
The track record of a particular Regional Center is important. Several Regional Centers should be considered. Wherever you select a Regional Center, that is the area where the attorney must go. Thus, it would make economic sense to select a few Regional Centers in one state or one geographical area, if possible. This legal work is not included in an attorney’s flat-rate Immigration fee contract and is usually performed on an hourly rate plus all out-of-pocket expenses. It is money well worth spending.
Contact an experienced Immigration attorney, Alex T. Barak can help you today.
The hiring of a lawyer is an important decision that should not be based solely upon advertisements. Before you decide, ask us to send you free written information about our qualifications and experience.