EB5 Visa is one of the visas that the US provides. It has been offering permanent residency for foreign investors since 1990. You can get this visa by investing in a US business. The minimum required amount for this is $800,000.
Find the benefits and other requirements of the US EB5 program below.
About EB5 Program
The program is run by the United States Citizenship and Immigration Services (USCIS). The minimum EB5 investment amount is $800,000, and you need to supply 10 jobs for Americans with this amount. Note that these US workers cannot include you as the investor and your immediate family members.
Let’s now find out the eligibility criteria to apply for this program.
Eligibility for EB5 Investment
You may consider EB5 as US green card by investment. The following are the requirements that you need to meet while applying:
- Either invest $1,05 million in a qualifying commercial enterprise or
- $800,000 in a Targeted Employment Area (TEA). For this option, you need to create a minimum of 10 full-time jobs for US citizens within two years
- Also, your investment must be advantageous for the US economy. It must provide services or goods to domestic markets.
While applying for the program, you don’t have to demonstrate your net worth, labor certification, or a job offer.
What are the Advantages of an EB5 Green Card?
The US EB5 provides you with many benefits for both yourself and your family. For instance, you can live, work, study, or retire wherever you want in the country. Family members include your spouse and minor children. The children must be under the age of 21 and unmarried.
The details of the benefits of EB5 are as follows.
You can apply for permanent residency by doing the I-829 application. To do this, you need to wait for two years after your EB5 investment. When it’s approved, your family can also get the right to work and live in the US.
Social Security Benefits
Working and paying taxes in the US allows you to be eligible for social security credits. To benefit from this, you must work in the country for at least 10 years. Social security benefits also include disability and survivors’ benefits and retirement payments. Besides these, you need to have a Social Security Number to benefit from these rights.
US EB5 allows access to medicare for people over the age of 65. Medicare is also provided for individuals with certain disabilities. To benefit from this, you need to have paid Medicare taxes.
Medicaid is also available to apply when you get your EB5 green card. It’s a program designed for the elderly, disabled, and low-income individuals.
Access to the US Education System
Your children have access to the world-class education system available in the US. Also, you can benefit from lower tuition fees like typical residents.
What are the Required Documents in the EB5 Application Process?
The following documents are needed while applying for EB5:
- Your passport
- Business License
- Detailed Business Plan
- Organizational documents
- Partnership agreement
- Proof of the investment having been transferred
- Proof of the source of investment
- A statement of position/title, and a description of duties
- An approved I-526 Immigrant Petition. It must state that you’ve started your business investment process.
Some Issues To Know
There are some rules if you go and stay outside of the US often. For instance, you cannot stay outside of the US for 180 days or more in consecutive days. However, if you have to do this, there are some requirements to fulfill. In such cases, the EB5 program requires you to:
- Have a social security number (SNN)
- Open a bank account
- Have a driving license
- Sublease/rent an apartment under your name
- Obtain a US credit card and also, use it for activities like shopping and travel
- If available, file your tax returns in a regular way
- Be a member of a club or library.
While applying for US EB5, your investment money must not be borrowed and it must be gained legally.
In short, EB5 is a great opportunity for you and your family to get residency rights in the US. You can begin a new journey by applying today!