Advantages of the EB-5 Visa Program Part 2
Since 1990, the EB-5 visa program has been a primary method for bringing foreign investors to the United States. It’s been a facilitator for the entrepreneurial dreams of individuals across the globe and a catalyst for economic prosperity here in the U.S. It’s requirements are designed with economic growth in mind. To qualify for an EB-5 Visa, you must:
- Start a business in the U.S. or one of its possessions.
- Invest $1 million into the business. The investment requirement is $500,000, if the business is located in a targeted employment area. These are areas that either have a high unemployment rate (150 percent of the national rate) or is mostly rural (located outside of a city with 20,000 people or more).
- The business must create 10 new jobs. These jobs can be indirectly created because of the business.
For more information about how to obtain an EB-5 visa, contact a Tampa business immigration attorney at Cotney Construction Law.
These requirements are significant and procuring an EB-5 visa can be a challenge. However, the advantages of having one over other visas are numerous and include:
EB-5 investors and their families are eligible for in-state tuition as well as grants and scholarships. They are also able to attend public schools.
Generally speaking, EB-5 visas can be attained faster than other visas. Approval for an EB-5 visa can occur in as little as three months. Your residency status can become unconditional after two years and you can become a naturalized citizen after five years.
No Requirement to Manage a Business
While you are required to invest in your business, you are not required to manage it. If you are a limited partner under the Uniform Limited Partnership Act, you will qualify for this visa. This means that you can work for any company you choose or, even, retire.