Foreign nationals that are interested in immigrating to the United States now have one of the fastest ways of doing so through the EB-5 Investor Immigrant Pilot Program. The EB-5 is a business investment based visa that requires an investment of $500,000 into a government approved EB-5 project known as a Regional Center.
A Regional Center is defined as any economic unit, public or private, which is involved with the promotion of economic growth, improved regional productivity, job creation, and increased domestic capital investment.
Aside from the investment, the foreign applicant must undergo a background check, medical examination and must be able to provide evidence that the invested funds were obtained legally. Once those prerequisites are completed and approved, the main requirement of the investment is that the Regional Center chosen must create a minimum of 10 full-time jobs for U.S. workers.
Through the pilot program, the investment allows for both the direct or indirect creation of jobs. Direct job creation is considered the jobs that establish an employer-employee relationship between the newly developed business and the people that they employ. Indirect job creation is considered the jobs held by persons who work outside the newly established commercial enterprise. For example, indirect jobs include employees of the producers of materials, equipment, and services that are used by the commercial enterprise. There is also a sub-set of indirect jobs that are calculated using economic models that are known as induced jobs. Induced jobs are those jobs created when direct and indirect employees go out and spend their increased incomes on consumer goods and services.
Whether the jobs are created directly or indirectly, the minimum requirement is that there must be 10 full-time positions filled. Full-time employment is defined as employment in a position that requires at least 35 hours of service per week at any time; intermittent, temporary or seasonal jobs do not qualify as full-time jobs and they do not meet the requirement.
Once the job creation requirement is fulfilled, the investor, the investor's spouse and their unmarried children under the age of 21 receive an EB-5 visa and permanent U.S. residence.
All information regarding the EB-5 program is available at http://www.eb5exclusive.com where all of the latest EB-5 news, information and resources can always be found.
