Find Out The Eb5 Requirements Before Deciding To Open A Business In America

Getting into America from another country can be difficult

, as any immigrant knows. If you simply want to build a life for yourself and your family in this country, it can be frustrating to know that the process of becoming a resident in the United States can take years, if it ever happens. You might be interested to know that there are legal, little-known ways around the typical process of becoming a U.S. resident.

The Immigration Act of 1990 has made it possible for immigrants to not only come to America legally, but to open a business here, as well. Business ownership is often out of the question in many countries, but thanks to the EB5 visa created by this act, people from other countries can open a business in the U.S. Of course, like anything, there are restrictions, but the EB5 requirements are few compared to other visa types.

To qualify for the EB5 visa, you have to be an immigrant able to invest $1 million into your new business. Your business must also employ at least ten American employees full-time, which you should take into account when creating a business model. Make sure the company is large enough to justify that number of employees, or that investment to begin with.

If you doubt you could get access to $1 million, either through a loan or gift, there is another option. Opening a new business in a targeted area requires only $500,000 in capital. A targeted area is one that has very high unemployment rates, typically one and a half times higher than the country's average rate. Targeted areas often have Regional Centers, which are agencies that study and strive to improve economic expansion in those areas.

About 10,000 EB5 visas are set aside annually, and the supply exceeds the demand most years. This means if you want to open a business in America, you have a high chance of being able to do so once you get the necessary funding to fulfill the EB5 requirements. Of the 10,000 available each year, about 3,000 are reserved for those opening companies in targeted areas with Regional Centers. This fact, combined with the smaller investment needed, makes opening a business and becoming a U.S. permanent resident even more possible when you do so in a targeted area.

If you do decide to open a business in a Regional Center, there are a few benefits afforded to you, aside from the lower investment capital. You can live anywhere in America, so you don't have to live in the same city as your new business. It makes sense, then, that you do not have to be there daily to manage it. The ten or more jobs created by your new business can also even be indirect. If you have a preference of where your business will be, you will be glad to know that there are 45 Regional Centers to choose from.

Contacting a lawyer who specializes in immigration law is the best way to find out more about EB5 requirements, as well as where the 45 Regional centers are located.

by: Lisa Goldberg

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