Philadelphia Investor Visa Lawyer
Investors seeking entry into the United States may be eligible for the EB-5 Visa, which is an employment creation classification under the employment based visas. EB-5 applicants are able to skip the sometimes onerous labor certification process which is generally required for employment based permanent residency. Applicants must, however, meet investment thresholds, and demonstrate job creation for U.S. workers.
If an EB-5 applicant is looking to start to run his or her own business, the required investment is $1,000,000.00. The applicant must also demonstrate that the investment will create at least ten jobs for U.S. workers. This is an excellent option for an applicant who is aiming to run his or her own business and be in charge of day-to-day operations. There is an option under the EB-5, however, which requires less investment. Congress created EB-5 regional centers to encourage investment in targeted area which have historically been underfunded. The advantage of the investing in a regional center is that it is necessary to invest $500,000.00, rather than the standard $1,000,000.00, in order to qualify for the visa. The other advantage is that the job creation can be indirect and induced job creation, rather than the direct job creation that is required if the applicant has invested in his or her own business. A direct job is an identifiable job for qualified employees employed by the business into which the EB-5 investor has directly invested his or her money. An indirect job is a job shown to have been created collaterally by the project as a result of money invested in a business affiliated with a regional center. The number of indirect jobs created through an EB-5 Investor’s Capital Investment is based upon a business plan and a detailed economic analysis, which his evaluated and approved by USCIS (United States Citizenship and Immigration Services). It is important to know that the Business plan and economic analysis are presented to USCIS when the regional center is formed, it is not required to present the plan and analysis for each individual investor.
One additional advantage of investing in a regional center is that there is no requirement for the investor to involved in the day to day management of the business. An investor in a regional center can also live anywhere in the country, he or she does not have to live near the regional center. Whether it is best to invest in a regional center depends on the goals and needs of each EB-5 applicant. Some investors want to start and run their own business, while others just want a green card.
It is also important to note that initial approval of the EB-5 green card is conditional. The investor has to file to remove the conditions by showing that the business remains viable and still employs at least 10 U.S. workers. As you can see, EB-5’s are complicated matters, and navigating through one will require the assistance of an expert Philadelphia Immigration Lawyer. So, Contact The Law Offices of Greg Prosmushkin, P.C. today for a free consultation.
This content was written on behalf of Greg Prosmushkin.