Global Citizenship: How the EB-5 Visa Offers a Path to U.S. Residency
If you’ve dreamed of lawfully living in the United States, you may have already looked into becoming a citizen. The path to U.S. citizenship is a long road that requires securing visas first, usually with the aid of a sponsor.
However, if you can invest in creating jobs for Americans, you may be eligible for the EB-5 visa, which can give you a much easier path to U.S. Residency.
What to Know About the EB-5 Visa
The EB-5 visa was first created in 1990 as a way to allow eligible foreign investors to gain legal permanent residency in the U.S. This meant a simplified path to a green card for immigrants while boosting increased investments into the U.S. economy.
Not everyone can qualify for an EB-5 visa, though. You must be able to invest a minimum of $800,000 in what is known as a “targeted employment area” to finance a business that creates at least 10 jobs for American workers.
However, you do have the freedom to choose to make an individual investment or do so through a regional center. Regional centers are federally approved to help foreign investors connect with developers who need funding to start their businesses, creating a win-win situation for everyone.
Requirements for an EB-5 Visa
If you’re an investor, your ticket to a green card may be the EB-5 visa. You must be able to invest in a qualifying commercial enterprise or a targeted employment area as discussed. Your income must be legal, and you must not have a criminal record.
The process of applying for an EB-5 visa can be complex though. Since the laws just recently changed, increasing the minimum investment requirements from $500,000 to $800,000 in 2022, it’s to your benefit to work with an EB-5 visa law firm. This will ensure you understand any updates to the laws, policies, or fees. Applications can be rejected for minor mistakes, but with the assistance of an EB-5 attorney, you will have someone who knows the requirements inside and out to help you achieve your American dream.
Benefits for Immigrants with the EB-5 Visa
If you can invest in the future of America, then you can invest in your own residency in the United States. After your petition is approved, your spouse and any unmarried children that you have under the age of 21 can also apply. The benefits you will all receive permit you to live, work, study, and retire anywhere in the United States.
Those who are approved for the EB-5 visa get to enjoy access to Social Security, Medicare, and access to educational opportunities. The best part is having a direct route to permanent residency.
Once you have overseen your investment through the EB-5 visa for two years, you can apply to obtain full permanent residency, which can extend to your spouse and children, too. It’s one of the best ways to legally become U.S. citizens and contribute something to the U.S. and global economy all in one.