subject: Comparing The United States Eb3 And Eb5 Visas [print this page] The 5th 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 3rd preference employment based visa (EB3) was also created as a part of the Immigration Act of 1990, but it depends on the immigrant being able to directly offer something significant to the American workforce through their own job, rather than the creation of jobs. In this article we will take a closer look at the EB3 and EB5 visas and see how the two compare and contrast.
EB3 Visa This visa requires that the immigrant in question be a skilled worker, a professional or other worker. According to the governments web page, these terms are defined as follows:
1) Skilled workers These are persons whose job requires a minimum of 2 years training or work experience, not of a temporary or seasonal nature.
Required Evidence - You must be able to demonstrate at least 2 years of job experience or training.
You must be performing work for which qualified workers are not available in the United States.
Required Certification - Labor certification and a permanent, full-time job offer required.
2) Professionals - These are persons whose job requires at least a U.S. baccalaureate degree or a foreign equivalent and are a member of the professions
Required Evidence - You must be able to demonstrate that you possess a U.S. baccalaureate degree or foreign degree equivalent, and that a baccalaureate degree is the normal requirement for entry into the occupation.
You must be performing work for which qualified workers are not available in the United States
Education and experience may not be substituted for a bachelors degree.
Required Certification - Labor certification and a permanent, full-time job offer required.
3) Other workers - This subcategory is for persons performing unskilled labor requiring less than 2 years training or experience, not of a temporary or seasonal nature.
Required Evidence - You must be capable, at the time the petition is filed on your behalf, of performing unskilled labor (requiring less than 2 years training or experience), that is not of a temporary or seasonal nature, for which qualified workers are not available in the United States.
Required Certification - Labor certification and a permanent, full-time job offer required.
EB5 Visa In stark contrast to the EB3 visa, lays the eb5 investor visa. According to the governments web page, to qualify for the eb5 visa program 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 EB3 and EB5 both being employment based visas, they are very different in nature and offer disparate paths to a green card visa. While the EB3 requires significant personal accomplishment, education and the promise of a direct contribution to the American workforce by the immigrant in question, the EB5 visa relies on an immigrants investment to create full-time American jobs for that workforce.
