subject: Eb5 Visa Described Threadbare, In Detail [print this page] EB5 fifth employment based visa program is an ambitious initiative of the Government of the US created by the Immigration Act of 1990. This visa provides a method of inviting foreign nationals to invest money in the country in lieu of the Green Card. It provides one of the rare opportunities to the eligible people across the globe to get citizenship of the most dreamt and sought after destination, the US.
Key Features
A Green Card through this program gives scores of benefits
Permanent Residence for the applicants family, i.e., spouse and single children under 21. You will be independent to live to take up a job or run own and run business anywhere in the US.
No English proficiency tests are needed.
You enjoy all privileges as other US citizens
Free school education.
University fees stipulated for any other citizen.
Medical benefits after 5 years.
Your children will be able to access a wider job market.
EB5 visa needs substantial investment at least $ 500,000 in a commercial enterprise in any of the USCIS approved regional centers.
You get a conditional Green Card that is initially valid for 2 years. The Green card is made permanent and conditions waived after documents supporting creation of at least 10 direct/indirect jobs is submitted with USICS.
Requirements
Your net worth ( or jointly with spouse) must be at least USD 10,00,000, or have a high annual income.
A minimum of $ 500,000 for investment in the approved venue.
Additional processing costs of up-to $ 50000 (non-refundable).
Application assessment and the processing , which also includes the fee of the attorneys
Filing fee of USCIC
Medical check-up
Some necessary Documents
Police clearance certificate
Documentary proofs of Date of Birth and Marriage.
Details of source of Funds.
Income tax returns for last 5 years
Business licenses/registration copies if applicable
How EB5 works
In EB 5 you choose from list of approved USCIS targeted areas, to invest in
Creating new business enterprise,
Restructuring of an old company
You need to have a minimal policy-making role in the enterprise that can be regarded as an active role in management.
After the mandatory probation period of two years, you need to file petition to satisfy the government on the predefined parameters, such as:
Maintaining the investment for the 2 years
Creating at least 10 full time jobs for qualified people within the targeted center throughout the period. The people to be employed do not however include the investors family members, non-immigrants, etc.
The permanent Green Card is issued within a year of qualified petitions. Citizenship is awarded after five years.
