For Entrepreneurs to apply for green card, a scheme has been launched by government of United States. The EB-5 US visa is for Entrepreneurs only. The candidate’s spouse and children (under the age of 21) are eligible to apply for the immigration visa. This visa is called EB-5 as it is employment based fifth preference visa. This program was launched in 1990 by the government of USA. It was deployed to increase the foreign investments in the country and to increase the rate of job creation. As more companies will create jobs which would in turn provide employment to the citizens of the country.
Investing in Commercial Enterprises
This visa is for candidates who have basically invested in commercial enterprises which are associated with regional centres. These regional centres are approved by USCIS (United States Citizenship and Immigration Services). Regional centre can be either public or private. List of regional centres approved by USCIS is available online, the list is updated time to time. The regional centre has to be currently functioning, terminated regional centres will not be considered. List of terminated regional centres is also available online. The applicant can get its commercial enterprise categorised as regional centre by applying for I-924 form. If your site clears the eligibility criteria, then it will be authorised by USCIS.
The first step to get EB-5 visa is to fill the form I-526. This form will file your petition as Immigration by Alien Entrepreneur. When the I-526 form is approved, then you can file for DS-260. DS-260 is the application for Immigration Visa and for Alien registration. This form will help you procure green card through USA EB-5 immigration. For your I-526 form to be approved, it needs to meet the eligibility criteria. The new commercial enterprise needs to established after November 29, 1990. If your commercial enterprise is established before the stated date, then it will fall under the category of existing commercial enterprise. The net worth of your enterprise has to be a minimum of $1,000,000. If you wish to get approval for reduced investment amount ($500,000), then you need to show evidence of TEA (Targeted Employment Area).
For seeking EB-5 Visa, you need to show evidence that you have been engaged in the managerial activities of the enterprise. Evidence has to be submitted. Evidence that the enterprise has been engaged only in lawful activities has to be also submitted. Records of registration of foreign business, tax returns, evidence proving any external source of capital, records of criminal actions and government associated proceedings must be attached with the petition. The commercial enterprise must create jobs for at least 10 full time workers.