An Overview of the EB 5 Visa Program

What is a visa document? A visa is a legal document that qualifies the holder to legal immigrant status within a particular country. For example, the United States has a variety of different visa documents. These documents allow various categories of foreign nationals to live, go to school and conduct business legally within the borders of the country. If someone wants to travel to the U.S. for the purpose of going to school, there is a student visa for which they may apply at their local American embassy.

In 1990, the U.S. government created a special type of visa in order to encourage investment in the country from outside sources. This is the EB 5 visa. For those wishing to live in the U.S. for the purpose of investing, there are certain conditions. The visa applicant must have $1 million to invest or if they wish to invest in certain areas where unemployment is high, then the price drops to $500,000. The business in which they invest must also create at least 10 jobs. They are not required by the terms of the visa to actively manage the business since even being a silent partner is defined as taking an active role. The $500,000 sum also has to be paid to certain regional centers which would then use the capital to fund various local enterprises. There are several of these regional centers in most states across America, with each center investing in certain counties within that state. For example, there is an EB 5 Miami regional center in Florida and an EB 5 Los Angeles regional center in California.

The EB 5 process begins with what is termed a “Petition By Alien Entrepreneur”. If all goes well then the EB 5 applicant along with the applicant’s immediate family will be granted conditional permanent resident status. After 21 months the conditional permanent resident can apply to have the conditional part of their status dropped. To stop being conditional, the visa holder must file an additional document. After receiving their EB 5 visa the applicant and their family members are free to work and travel wherever they wish within the U.S.

It is important to note that all of the rules and restrictions regarding visas are subject to change, therefore people who intend to petition for an EB 5 should keep themselves up to date on EB 5 News and information.

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