O-1 And Eb5 Immigrant Investor Visas Compared
The fifth preference employment based visa (EB5) was created in 1990 as a way for
foreign investors to gain United States permanent residency (and eventual citizenship if desired), through an investment in a new or pre-existing American business that sees the creation of at least 10 new full-time jobs for American workers. The 0-1 is described as being for the individual who possesses extraordinary ability in the sciences, arts, education, business, or athletics, or who has a demonstrated record of extraordinary achievement in the motion picture or television industry and have been recognized nationally or internationally for those achievements. In this article we will take a closer look at the O-1 and the
Eb5 Green Card visas to see how the two compare and contrast.
O-1 Visa: Individuals with Extraordinary Ability or Achievement - The O-1 nonimmigrant visa is for the individual who possesses extraordinary ability in the sciences, arts, education, business, or athletics, or who has a demonstrated record of extraordinary achievement in the motion picture or television industry and have been recognized nationally or internationally for those achievements.
0-1 Visa Classifications:
1)O-1A: individuals with an extraordinary ability in the sciences, education, business, or athletics (not including the arts, motion pictures or television industry)
2)O-1B: individuals with an extraordinary ability in the arts, or extraordinary achievement in motion picture or television industry
3)O-2: individuals who will accompany an O-1, artist or athlete, to assist in a specific event or performance. For an O-1A, the O-2s assistance must be an integral part of the O-1As activity. For an O-1B, the O-2s assistance must be essential to the completion of the O-1Bs production. The O-2 worker has critical skills and experience with the O-1 that cannot be readily performed by a U.S. worker and which are essential to the successful performance of the O-1
4)O-3: individuals who are the spouse or children of O-1s and O-2s
Eligibility Criteria - To qualify for an O-1 visa, the beneficiary must demonstrate extraordinary ability in the sciences, arts, education, business, or athletics by sustained national or international acclaim and must be coming temporarily to the United States to continue work in the area of extraordinary ability.
Extraordinary ability in the field of arts means distinction. Distinction means a high level of achievement in the field of the arts evidence by a degree of skill and recognition substantially above the ordinarily encountered to the extent that a person described as prominent is renowned, leading, or well-known in the field of arts. Extraordinary ability in the fields of science, education, business or athletics means a level of expertise indicating that the person is one of the small percentage who has risen to the very top of the field of endeavor.
To qualify for an O-1 visa in the motion picture or television industry, the beneficiary must demonstrate extraordinary achievement evidenced by a degree of skill and recognition significantly above that ordinarily encountered to the extent the person is recognized as outstanding, notable or leading in the motion picture and/or television field.
EB5 Immigrant Investor Visa In stark contrast to the O-1 visa, lays the EB5 Green Card, also known as the
Immigrant Investor Visa. According to the governments web page, to qualify for the EB5 Investor Visa you must:
1)Invest or be in the process of investing at least $1,000,000. If your investment is in a designated targeted employment area (A 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) then the minimum investment requirement is $500,000.
2)Benefit the U.S. economy by providing goods or services to U.S. markets.
3)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).
4)Be involved in the day-to-day management of the new business or directly manage it through formulating business policy for example as a Limited Partner, corporate officer or board member.
We see in this comparison that despite the fact that the O-1 and EB5 immigrant investor visas both rely on certain job based requirements being satisfied; the two are very different in nature and offer disparate paths to a
Green Card Visa.
by: Terry Martin
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