4 Steps to an Approved Eb5 Application

4 Steps to an Approved Eb5 Application

4 Steps to an Approved Eb5 Application

However, many people are not sure of what the first steps are to getting an approved eb5 application, so consider some ideas for obtaining one.

1). Set aside your money. You will need $1 million to invest in a business in the U.S. If you want to contribute money to an existing project in one of many cities marked as a targeted employment area, you can invest $500,000, instead. The main point is to pick one, and then set that money aside. You should also figure out how much moving will cost you and your family. Having all the money you will need when you need it can make the road to an approved eb5 application as easy as ever.

2). Have an idea of what type of business to help. If you want to start your own company and have a great business plan in mind, you will likely be happy investing the entire $1 million. This way, your plan could come to fruition, and you will have all the control and responsibility of your own business. On the other hand, if you want to have limited involvement with a project, a targeted employment area might be best for you. Taking over a struggling company is also possible when you go this route, so if you like to improve things rather than building from the ground up, consider this option.

3). Know the documents required. Before you get an approved eb5 application, you need to prove that your money was legally obtained and that you paid any required taxes on it. You will need to show at least five years of tax returns. If you currently have a business in your home country, you will need to show your business license, proof of ownership, and tax returns for that, as well.

4). Select an immigration lawyer. Most people do not attempt to get an approved eb5 application on their own. You will need someone along the way to let you know what materials you need, deadlines you need to meet, and other advice. Additionally, your immigration lawyer can go to bat for you if you are denied an eb5 visa, or have any issues. Most immigrants do not know the ins and outs of this process, so you need someone who does.

These are just the first steps to getting your eb5 visa. Once you obtain a lawyer, you will know what else the process requires to achieve success. While having some ideas of what you want in mind before getting an immigration lawyer is advised, you should wait until you hire one to make the big decisions.

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