A foreign national can become a legal permanent resident in the United States when they apply for an EB-5 visa, which is an investor visa. With this type of visa, a foreign investor can start a new business in specially designated areas with a high unemployment rate. Thus, to qualify for this visa, the investor must employ a particular number of people as part of an ongoing, for-profit business. A Dallas Business Immigration Attorney can help investors navigate the complexities of the visa application process.
EB-5 Visa Qualification
To qualify for this visa, an applicant should invest in a new commercial enterprise, which can take any legally recognized business form like a sole proprietorship, partnership, corporation, limited liability company, joint venture, and others.
EB-5 visa only applies to those who plan to engage in commercial activities. Thus, a German citizen who wants to create a business entity to manage a residence in Dallas for their personal benefit does not qualify for an investor visa in the U. S. Also, the EB-5 visa applicant should invest enough capital to create a minimum of 10 full-time jobs at the associated commercial enterprise.
Should the applicant create a new commercial enterprise in association with an approved regional center, the U. S. government will count “indirect jobs” created because of the applicant’s business toward the ten-employee minimum requirement. However, if the applicant starts their enterprise outside of a regional center, they need to directly employ at least 10 individuals who must be U. S. citizens. Qualified employees don’t include the visa applicant, their spouses, or their children. All employees should work at least 35 hours every week.
Benefits of Pursuing an EB5 Visa
Getting an EB-5 visa doesn’t require a labor certification process to try to demonstrate a shortage of U. S. workers to perform the possible job. Also, applicants are not required to maintain an existing home country business or possess extraordinary ability in business.
Moreover, seeking conditional residence in the U. S, through the EB-5 program is beneficial because the visa quotas based on countries don’t apply. And unlike visas for immediate relatives of U. S. citizens, the EB-5 visa doesn’t require an intending immigrant to already have family members in the U. S. Aside from the potential investment opportunities and return on investments that investors can take advantage of through the EB-5 program, this visa also offers a direct pathway to U. S. citizenship.