EB-5 Permanent Employment Visa
Cleveland Immigration Lawyer
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 as an employment-based visa 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.
Contact us today! An Ohio immigration attorney from Brown Immigration Law can assist you with preparing your Form I-526, Immigrant Petition by Alien Entrepreneur, and will represent you throughout the entire application process.
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