Cleveland Immigration Lawyer
EB-5 Permanent Employment Visa
The U.S. government offers approximately 140,000 immigrant visas to foreign
nationals who want to come to this country with the purpose of establishing
permanent residency and building a career here. Of these, nearly 10,000
are reserved for a category referred to as immigrant investors. The EB-5
visa exists to make it possible for foreign nationals to come to the United
States in order to make a significant investment of capital that will
result in the creation of jobs and will thereby serve to stimulate the
local economy. This type of visa aids the immigrant by facilitating an
opportunity as well as benefiting the U.S. economy.
In order to meet the eligibility requirements for the EB-5 visa, you must
be prepared to make a minimum investment of $1 million, or $500,000 if
you will be investing in a rural area or an area characterized by high
employment. You must have the funds available, rather than borrowing them.
The new enterprise must be projected to create a minimum of ten full-time
employment positions for U.S. citizens or immigrants who have received
employment authorization. Note that the ten employees cannot include you, your spouse, or your
children, and the jobs must be created within a period of two years after
your initial investment.
The business may be an entirely new venture or an expansion of an existing
business. If you are purchasing a preexisting enterprise, then it is necessary
for your investment to expand the net worth of the company by at least
40% or for the number of employees to increase by that percentage. The
Department of Labor does not require you to obtain
labor certification before applying for this type of visa because you will be adding jobs
to the local economy rather than reducing the number of available employment
positions. An Ohio immigration attorney from Robert Brown LLC can assist
you with preparing your Form I-526, Immigrant Petition by Alien Entrepreneur,
and will represent you throughout the entire application process.