Green Cards
- Entrepreneur Investor
The last of
the employment based green card categories is the Fifth Preference
Employment Based (EB5) category. While it is referred to as an employment
category in actuality it is an investment based classification.
This category, commonly referred to as the "Million Dollar
Green Card", offers the only option to aliens who wish to petition
for a green card based on an investment made in the United States.
A maximum of 10,000 EB5 green cards may be issued annually to alien
investors. A petition for classification as an EB5 "alien entrepreneur"
may only be filed by the alien on the alien's own behalf.
In order to
qualify for an EB5 visa the applicant must establish and engage
in a new commercial enterprise by investing $1,000,000 in that enterprise,
and create ten new full-time jobs for United States workers. In
certain circumstances the required investment may be increased to
as much as $3,000,000, or decreased to as little as $500,000, depending
on the economic climate of the area in which the new business will
operate.
Only active
investments will qualify an alien in the EB5 category. Passive investments
such as ownership of real estate or stocks will not qualify, even
if the job creation criteria was somehow satisfied. Not only must
the investment be active but it also must be invested in a new business;
and it must create 10 new full-time jobs for United States workers.
The purpose of this requirement is to ensure that an alien is not
just "buying" lawful permanent resident status, but is
actually creating something that will benefit the country.
If the above
criteria can be satisfied, a conditional green card will be issued
to the applicant and immediate family members for a two year period.
At the end of the two year period, an application must be made to
the USCIS for an unconditional green card. This application will
be approved provided it is established that the business is still
operational under the same ownership and that there are still at
least 10 U.S. workers employed full-time by the business.
As soon as the
investment is made, the application can be filed along with a business
plan that details when the employees will be hired. It is important
to keep in mind that the investment need not be cash and can be
financed, provided it is secured with personal assets or guarantees.
If you would
like to explore your specific green card options please send a request
to us at:
Greencards@usimmigrationlaw.net
or contact
Leibl &
Kirkwood
12865 Point Del Mar, Suite 190
Del Mar, CA 92014, USA
Tel. (858) 481-5211
Fax. (858) 481-7271
questions@usimmigrationlaw.net
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