Saturday, 10 December 2011

EB5 Visa Program Entices Entrepreneurs To The US

By Paul Waverly


The United States is eager to encourage people with a strong entrepreneurial spirit to immigrate. Indeed, Congress has established a special visa program just for these entrepreneurs. An EB5 visa is a fast route to a green card for any foreign national who can and does invest in the United States.

You don't need a US citizen to sponsor you. You don't need to speak English or have any specific type of background, educationally or professionally. The critical factor for the EB5 visa is what you will do in the United States, not what or who you've been in your home country.

To qualify for this green card program, you must invest in a new commercial enterprise located in the United States that hires legal American workers. Your investment must be at least one million dollars or five hundred thousand dollars if you're investing in a designated Targeted Employment Center. The capital you invest cannot come through a loan, but can be in part made up of tangible property rather than just cash.

Typically, the enterprise must be new. However, there are circumstances where an investment in a failing business will also be sufficient. Either way, the enterprise must be for-profit and conducting commercial activity. This means that staff hired for personal needs (such as a personal assistant or household help) do not meet the hiring requirement.

The enterprise must also hire or preserve at least 10 full time employees within two years. The saved jobs will only qualify if you've invested in a failing business. The employees must be legal to work in the United States.

There are only a limited amount of EB5 visas given out each year. If you can meet the program's requirements, including having the requisite entrepreneurial creativity to start a successful business, this can be your way to live legally in the United States. The assets you could bring to the country are both practical and principled.




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