The Employment-Based Immigration Fifth Preference is commonly known as EB-5. It is also known as the United-States immigration visa and green card program. This visa program can lead to citizenship. This program is designed to help business owners or investors, their partners, and unmarried children under their age of 21 to travel, study, or work in the US without any hassle. On the basis of a survey, it has been found that more than 2500 investors get EB 5 visa every year. Plus, this number gets stretched when their family members are added. EB 5 visa program is highly popular among the citizens of China and India. It is because the US does not have an agreement with countries that offer EB 2 opportunities.
In order to qualify EB 5 visa program, having an effective EB 5 business plan is really helpful. An EB 5 application is necessary for foreign investors to qualify the process, but the EB 5 business plan submitted with the application can make the entire process easier. With the help of an effective business plan, it becomes easier to get the approval of the I-526. It can be done by recognizing the requirements of the programs along with indicating the likelihood of the downstream I-829 approval. To make it more clear, I-526 is known as an Immigrant Petition by Alien Entrepreneur, whereas I-829 is Petition by Entrepreneur to Remove Conditions on Permanent Resident Status.
Before discussing more about EB 5 business plan, here are some traits of an EB 5 eligible business:
- It is required that business must be located in the United States of America.
- It is obligatory that the business must hire people eligible to work in the United States of America.
- It is essential that the business must use the investment amount to empower the growth of employees.
Moreover, you can use EB 5 capital to purchase inventory or equipment, but not to buy any land or any existing property. This amount can be used to enhance existing property so that it can generate jobs. And, the investment must be spent on something that creates jobs and employs US workers.
The minimum amount of investment must be at least $1 million. It should be made prior to submitting the I-526. It is also essential to know that the amount of investment is placed in escrow. Plus, keep in mind that escrow deposits will no more under the control of the investor. Most of the investment contracts include some type of language that says that this amount will be placed into the business after the approval of the I-526. But, the amount will be returned to the investor if it gets rejected.
Today, it is essential that the amount of investment should only come from family members. This might be changed; however, it is expected that pending language is removed. Presently, it is a quite common occurrence for ten folks to move funds into a domestic account on behalf of the investor in order to overcome limitations from China. This investment tear can be reduced to $500,000 in case the investment is made in a TEA or Targeted Employment Area.
Here is something more about Targeted Employment Area:
- A rural area that has less than 20,000 people
- A metropolitan area where unemployment rate greater than 1.5x the national average
Many service providers, these days, specialize in providing high-quality services to make the process easy and hassle-free. Simply get in touch with them to get an effective business plan and obtain your EB 5 visa without any struggle.