Things you should know about the EB-5 visa program

On Behalf of | Jan 9, 2023 | Immigration

Many people are flooding the US for new opportunities and better lives, but some are not using legal methods, which puts them and their families at risk.

If you are one of the many people looking for a way to enter the United States legally and you have the money to invest in the US economy, you should consider the EB-5 visa program.

Benefits

You, your spouse and any children you have under 21 years of age can move to the US. You can later apply for permanent residency. Your family receives education and can work anywhere.

Requirements

To qualify for an EB-5 visa, you need to invest $900,000 (for targeted employment areas) to $1.8 million in a for-profit business, such as a corporation, partnership or other private or public structure. The investment should be legally acquired cash, property, inventory or unsecured debt.

Within two years, your company needs to create at least 10 jobs. You need to hire 10 employees or create 10 jobs through your business activities. Businesses with a net loss for two years may qualify for extensions.

Cost and timeline

It can take up to 71 months to receive visa approval, and you should check for EB-5 visa availability before applying. Your green card approval process can take four to 45 months based on where you live and the center handling your application.

Also, prepare to pay up to $4,900 for your visa. You and your family also need to pay for a medical exam and biometric services. Whether you are living inside or outside the US has an impact on your costs as well.

Remember that you cannot just place your investment in a business bank account and not actually invest it. It must be “at risk” to qualify for the EB-5 visa.