EB -5 which is nothing but the fifth preference, employment-based immigration program. This is considered to be the most efficient ways people all over the globe have for gaining green card as well as to live in the United States of America.
After the successful completion of this program, investor, along with their family members, will be given residential status, which is conditional in the United States. After two years, this conditional resident status can be converted, and they will get permanent residency. They can get citizenshipafter five years. For more information, check here https://www.mandeville.com.hk/american-program/.
How does it work?
EB-5 or Employment based immigration was introduced in the year 1990 by the United StatesImmigrationAct. EB- 5 is meant to provide an immigration visa under a particular category for international investors who are high net worth.
For qualifying this program, the applicant of this program should make a $500,000 investment. Along with this, there can be some additional fees related to this investment. The investment should be towards a business project which will be located in the area in the United States with significantly high employment rates.
Along with the condition of investing amount, there is one more condition that the business project should create at least ten full-time jobs. This should be done in 2 years of duration.
The initial application is mainly focused on the establishment of a legal source for the investment that is $500,000. Along with this, there will be verification on the investment proposition as well. Once the applicant gets approval on this initial investment, he gets eligibility for a resident status with the condition. Along with him, his family also gains the ability for conditional resident status in the United States. After this, they will get qualified for visa requirements.
Once the employment immigration applicant establishes his business project and makes an investment of the amount of$500,000 in the chosen area and plan, it is considered that the business has operated. He should make sure that ten full-time jobs will be created within a given period. Usually, the duration provided for employment creation will be two years.
After this, the condition which is attached to the visa will be removed. This is the time the applicant, as well as the family, will get resident status, which is unconditional, in the United Status. For further information, check here https://www.mandeville.com.hk/canadian-program/.
The main requirements as explained earlier are
- Investment of $500000
- A proof for the legal source of financing
- The qualified project which started in the United States
- Ten full-time jobs for every investment done
The immediate family members that area spouse and the kids who are under twenty-one years will be awarded green cards once the applicant gets qualified. The investor should earn a minimum of $200000 as annual personal income, or net worth of the business should be $1 million.
In comparison with other visa programs of the U.S, this program has no condition on age, prior experience in business, or educational level. There is no condition that the applicant must know English and speak in English. Once the applicant is successful in getting the green card, he and his family can settle anywhere in the United States.