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Need help with an EB5 Visa?
The EB-5 visa is an employment-based visa that allows foreign investors to obtain permanent residency in the United States. It is also known as the Immigrant Investor Program and was developed by the United States government in the 19th century. This visa category was developed to facilitate foreign investment in the United States, and it has become an increasingly prevalent way for foreign nationals to obtain permanent residency.
Eligibility Criteria for the EB-5 Visa
To be eligible for the EB-5 visa, a person must make a qualifying investment in a new commercial enterprise. The investment must be at least $1 million, or $500,000, in specifically targeted employment locations. Additionally, the investment must make or preserve at least 10 full-time jobs for U.S. employees. Below are some criteria that you must meet to get an EB-5 visa.
- Investment: The visa applicant must invest at least $900,000 in a new commercial enterprise in the United States. This investment must create at least 10 full-time jobs for U.S. workers.
- Source of Funds: The investment funds must come from a legal source. The applicant must be able to offer proof of the source of funds.
- Business Plan: The applicant must present a comprehensive business plan summarizing the investment details, the job creation plan, and the proposed timeline for the investment.
- Health: The applicant must be healthy and have no contagious diseases.
- Age: The applicant must be at least 18 years old.
Benefits of the EB-5 Visa
The EB-5 visa offers several benefits to foreign investors:
- Permanent Residency: The EB-5 visa program delivers foreign investors and their households with a pathway to permanent residency in the United States.
- No Sponsorship Required: The EB-5 visa program does not need a U.S. sponsor or employer to apply for the visa.
- No Language or Education Requirements: Unlike other visa programs, the EB-5 visa program has no language or education prerequisites.
- No Residency Requirements: The EB-5 visa program does not require the applicant to maintain a minimum residency in the U.S.
- Ability to Work and Study: EB-5 visa holders can work and study in the United States without any extra visa or work permit.
- Access to Healthcare and Social Security Benefits: EB-5 visa holders are qualified for healthcare and social security benefits in the United States.
Challenges of the EB-5 Visa
While the EB-5 visa presents numerous benefits, it has challenges. One of the most significant obstacles is the requirement for a significant financial investment. The application process can be lengthy and complicated, with no approval guarantee. Eventually, the program faced criticism for its potential to be used for money laundering or other fraudulent activities.
Application Process of the EB-5 Visa
The EB-5 application process can be complicated and lengthy. It concerns numerous steps, including filing a petition with the United States Citizenship and Immigration Services (USCIS), furnishing investment documentation, and attending an in-person interview. Therefore, it is necessary to work with a skilled immigration lawyer to ensure all prerequisites are fulfilled and the application is adequately prepared.
Key Terms for EB-5 Visas
- Regional Center: An organization approved by the United States Citizenship and Immigration Services (USCIS) to promote economic growth through job creation by pooling investments from multiple EB-5 investors.
- I-526 Petition: The initial application that an EB-5 investor submits to the USCIS to obtain approval for their investment and qualify for an EB-5 visa.
- Targeted Employment Area (TEA): A geographical area with high unemployment or a rural area qualifies for a lower investment threshold of $900,000 for EB-5 investments.
- I-829 Petition: A petition that an EB-5 investor submits to the USCIS to remove the prerequisites on their permanent residency status after the investor's capital investment has been sustained and has made the required number of jobs.
- Capital Investment: The minimum investment of $900,000 is required for an EB-5 visa, which must be made in a new commercial company that creates or preserves at least 10 full-time jobs for U.S. workers.
Final Thoughts on EB-5 Visas
The EB-5 visa is a special program that offers foreign investors a path to permanent residency in the United States. While the process can be complicated and challenging, it presents numerous benefits, including greater personal and professional flexibility and potential financial rewards.
As with any major investment, it is important to carefully consider the risks and benefits before applying for an EB-5 visa. Moreover, working with an experienced immigration attorney can help ensure the application is properly prepared and increase the chances of success.
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Meet some of our EB5 Visa Lawyers
January 11, 2022
Bruce Burk practice is in the area of small business, labor and employment, contracts, real estate and civil litigation. Bruce has litigated over 40 trials as well as many appeals. He prioritizes client communication and satisfaction as well as delivering high quality work product.
November 29, 2021
Attorney Cory Barack specializes in business, real estate, probate, and energy law. He can help you with oil/gas leases, easements, property sales, drafting contracts and wills, setting up companies, and resolving disputes. He is licensed to practice law in Ohio and is located in Eastern Ohio.
November 26, 2021
Advised startups and established corporations on a wide range of commercial and corporate matters, including VC funding, technology law, and M&A. Commercial and Corporate Matters • Advised companies on commercial and corporate matters and drafted corporate documents and commercial agreements—including but not limited to —Convertible Note, SAFE, Promissory Note, Terms and Conditions, SaaS Agreement, Employment Agreement, Contractor Agreement, Joint Venture Agreement, Stock Purchase Agreement, Asset Purchase Agreement, Shareholders Agreement, Partnership Agreement, Franchise Agreement, License Agreement, and Financing Agreement. • Drafted and revised internal regulations of joint venture companies (board of directors, employment, office organization, discretional duty, internal control, accounting, fund management, etc.) • Advised JVs on corporate structuring and other legal matters • Advised startups on VC funding Employment Matters • Drafted a wide range of employment agreements, including dental associate agreements, physician employment agreements, startup employment agreements, and executive employment agreements. • Advised clients on complex employment law matters and drafted employment agreements, dispute settlement agreements, and severance agreements. General Counsel • As outside general counsel, I advised startups on ICOs, securities law, business licenses, regulatory compliance, and other commercial and corporate matters. • Drafted or analyzed coin or token sale agreements for global ICOs. • Assisted clients with corporate formations, including filing incorporation documents and foreign corporation registrations, drafting operating and partnership agreements, and creating articles of incorporation and bylaws. Dispute Resolution • Conducted legal research, and document review, and drafted pleadings, motions, and other trial documents. • Advised the client on strategic approaches to discovery proceedings and settlement negotiation. • Advised clients on employment dispute settlements.
November 22, 2021
I am available for data privacy and cybersecurity projects. I am CIPP/US certified through the IAPP. I have also taken coursework focused on the GDPR through the London School of Economics. In my past career I was an intelligence officer. I am well acquainted with information security best practices and I have experience developing and implementing administrative controls for classified information and PII. I have worked extensively overseas and I am comfortable integrating with remote teams. Feel free to reach out any time if you have any additional questions on my areas of expertise or professional background.
January 24, 2022
Peter W. Y.
Perceptive, solution-driven counselor and experienced attorney. Record of successful verdicts, settlements, negotiations, arbitrations, mediations, and deals. Effective claims management, litigation strategy, and risk consulting. Proven ability to oversee litigation teams, communicate to stakeholders, manage multiple projects effectively, and expand business relationships. Extensive experience handling legal issues in engineering and construction, environmental litigation, corporate and contractual, and insurance issues.
January 24, 2022
A commercial contracts lawyer with over 25 years of experience (both at large law firms and in-house as general counsel of a public company)
December 4, 2021
Brittany advises startups and emerging and public companies at all stages of growth, with focuses on formation and corporate governance matters, securities, venture capital financings, M&A and other strategic transactions, commercial contracts and general corporate counseling. Brittany represents clients across a broad spectrum of industries, including technology, automotive, mobility, digital health, consumer products and manufacturing.