The Process and Requirements of Obtaining a US EB5 Visa
Entrepreneurs at times move from their home country with the objective of starting up a new business or creating new branches of an existing company. EB-5 stands for Employment Based Immigration: Fifth Preference. For them see through their project, they have to be present from the start and this may need an entrepreneur to have a US green card. Fortunately for this group of people, the USCIS has a program to process the favorable visa to grant them access in to the United States. This program is known as the EB5 visa program which offers permanent residence in the United States for entrepreneurs who would wish to start a commercial enterprise in the US. The same is also offered to the spouse and children (under 21 years and unmarried) of the entrepreneur.
For this to be possible there has to be some conditions that any entrepreneur applying for the EB5 visa has to meet for him or her to be eligible for the green card. We shall look at two important conditions in brief, the first being that an applicant has to invest in commercial business in the United States. This contributes to the economy of the United States in several ways such as tax revenue to the United States government that could be used for several purposes like community development among others.
Secondly, entrepreneurs applying for the EB5 visa are required to secure ten jobs for US citizens who may wish to work in their enterprise and they qualify for the jobs. The same jobs have to be permanent so that this program may serve the purpose of boosting the economy of the United States by means of job creation. The same program was introduced to attract foreign investors into the United States who would be granted with the EB5 visa and in return they would come with capital investment to make the creation of new commercial enterprises possible.
The process involved in the acquisition of the EB5 visa is an easy step-by-step process which starts by filling a form I-526 petition by US noncitizen entrepreneur. Once approved, one files another form I-485 with the USCIS to register for permanent residence in the US. If approved, one can enter the country with the EB5 immigrant visa and the family members will be granted with a two year permanent residence period that comes with a conditional petition to extend the period of residence. When the USCIS approves the petition made by the EB5 visa applicants, the immigrants would be allowed to work and live in the United States permanently.