USCIS Allows Foreign Investors to Trade Job Creation for a U.S. Green Card Under the EB-5 Immigrant-Investor Program
The EB-5 Immigrant Investor Visa allows foreign investors to quickly obtain a green card in exchange for a $500,000 investment. Foreigners may come to the U.S. with their immediate family by making an investment of $500,000 in a distressed rural area. If the enterprise creates at least 10 jobs for American workers then the foreign investor and his family may obtain permanent green cards. The U.S. government welcomes such foreign investment to stimulate the economy in distressed areas.
The foreign investor program basically allows wealthy foreigners to purchase a green card. The immigrant investor path to permanent residency, known as the EB-5, was established in the 1990s to attract foreign investors to live permanently with their families in the United States. In exchange for the green card, the government requires the foreigner to invest $500,000 in a target employment area and establish a new commercial enterprise that is run by the foreigner and it must create 10 jobs for American workers. Because the program strictly requires creating 10 U.S. jobs, it is a politically popular visa option.
The investment capital must be made in a targeted employment area. This is defined as a rural area of less than 20,000 population or an area that has experienced high unemployment of at least 150% of the national average. According to the U.S. Bureau of Labor Statistics, the U.S. unemployment rate was 10.4% in February 2010. An investment of $500,000 in an area experiencing 13% unemployment rate would be sufficient.
Developers in distressed areas working with the local government officials apply to the Immigration agency to designate the area as a targeted employment “regional center.” Once approved, the area can market its program overseas to investors. Click here to read about Ohio’s northeast regional center. The Law Firm of Shihab & Associates has experienced lawyers who can help you navigate the EB-5 program and apply for a green card with the regional center in Ohio and accross the U.S.
The main benefits of the EB-5 employment creation visa
- Lower initial investment from $1 million USD to $500,000.
- A direct path to a U.S. green card.
- United States green card for you, your spouse and any minor children under the age of 21.
- Eligible for U.S. citizenship after 5 years of being a green card holder.
- Children are allowed to apply to universities at U.S. resident costs.
There are 17 regional centers accross the United States that have attracted approximately $500 million of foreign investment in distressed areas. The types of businesses include dairy farms, vinyards, schools, health-care facilities, power plants and production studios. As the U.S. economy continues to climb out of recession, competition for EB-5 investment capital will continue to flourish. This is a prime time consider investment in the United States as property values are at rock bottom and construction companies are hungry for business.
If you are interested in the $500,000 USD investment route to a green card for you and your family, the EB-5 program may be the right choice. Contact the Law Firm of Shihab & Associates to discuss your options. Over the past 15 years, our experienced immigration lawyers have successfully obtained hundreds of green cards for our clients. Call today to speak directly to one of our lawyers at (614) 255-4USA.