Green cards can be obtained by entrepreneurs that make an investment in countries such as the United States of America. The family members of such entrepreneurs are also eligible to obtain a green card. A good example of investments that can enable an entrepreneur to obtain a green card include the creation or preservation of 10 full-time jobs that are permanent for workers in the country or any other form of investment in a commercial business.
In each fiscal year, approximately ten thousand visas might be authorized for entrepreneurs that meet up with the eligibility criteria. For instance, an eligible entrepreneur must invest a minimum of 500,000 USD in a particular area of employment interest. In return, the United States of America (USCIS) might choose to grant such an entrepreneur a permanent residence permit. There are certain laws in the Immigration and Nationality Act that governs the issuing of a permanent residence permit to entrepreneurs.
Entrepreneurs must meet up with the eligibility criteria to be considered, the criteria stipulated by the USCIS include the following;
1. The entrepreneur must be allowed to enter the United States of America.
2. The entrepreneur must have a readily available immigrant visa.
3. The entrepreneur must have an approved Immigrant Petition by an Alien Entrepreneur (Form I-526).
There’s a specific application process for entrepreneurs living within and outside the United States of America. For entrepreneurs that reside in the United States of America, permanent residence can be obtained via the adjustment of the individual’s status. After the availability of a visa number and the approval of the Form I-526, the entrepreneur can then apply for a conditional permanent visa on the Form I-485 or send an application for the registration of permanent residence.
On the other hand, entrepreneurs that don’t stay within the United States might become a permanent resident of the country via the processing by the United States consul. This type of processing entails the joint effort of the USCIS and the Department of State for the issuance of a visa on a Form I-526 that is approved.
There are certain documents that must be tendered with the application for a permanent residence permit, these include the following;
1. A copy of the identification photo issued by the government.
2. Two passport photographs.
3. A copy of the entrepreneur’s birth certificate.
4. Form G-325A which must contain the information about the entrepreneur’s biography (for entrepreneurs between the age of 14 and 79 years).
5. The payment of an applicable fee
6. Form I-693, report of medical vaccination and examination record.
7. Certified copies of the entrepreneur’s court records.
8. A copy of the passport page of the entrepreneur with non-immigrant visa.
9. A copy of the entrepreneur’s passport page with the parole stamp or entry.
10. Form I-94, which gives details about the arrival and departure records of the entrepreneur.
11. The notice of approval for Form I-526.
In addition, family members of the entrepreneur can be included on the immigration petition.
EB 5 Visa- Latest News
The latest news about EB 5 is the decision of the United States congress about extending the EB 5 immigrant visa program. The United States congress has been contemplating about making certain changes to the existing immigration visa program. This program has brought in so many nationals of foreign countries over the years. So far, the EB 5 immigration program seems to be the best bait to entice wealthy foreigners to invest in the United States of America.
Most of the foreign investors that have invested a minimum of 500,000 USD in the United States of America to create job opportunities and develop rural and urban areas are from China. This immigration program grants a foreigner legal entry in return to the contribution of the immigrant in the creation of jobs and the development of rural/urban areas. In addition, green cards are awarded to the family members of the immigrant. However, the numbers of immigrant that are legally admissible in the United States of America are quite few, compared to illegal immigrants in the country. This is why people are wondering why there is a need to make more changes to the existing immigration program.
The EB 5 program is controlled by both the Immigration services department and the United States Citizenship department. It is the responsibility of the UCSIS to screen the applications and decide who gets a legal entry into the country. The screening process that is managed by the UCSIS includes the conduction of interviews with different consulates and embassies and the standard process of acquiring any particular type of visa. It is estimated that out of the total number of 10,000 visas issued annually to immigrants, 80% of the beneficiaries are from China.
Undoubtedly, the EB 5 immigration program has contributed immensely to the creation of job opportunities and the development of neighborhoods in the country. It doesn’t stop at the investment of 500, 000 USD, this is just a tip of the iceberg because more money will be invested on the long run to ensure the success and improved productivity of the commercial enterprise. Other investments that are also made by the families of such immigrants include enrolling their children in private schools, payment of taxes, and the likelihood of expansion or diversification of an existing business.
The EB 5 immigration program is a means for various developers to bring in foreign capital at a reduced interest rate of the financial structure of the business project. This is because the contributors of the foreign capital receive a reward, which is the right to study, work, and live in the United States of America.
Recently, there have been reports that developers, city governments and individual entrepreneurs have teamed up to create EB 5 regional centers. Such centers are private organizations that bring immigrant investors and business projects together. It’s expected that the number of regional centers will increase in subsequent years. However, the frequent fraudulent activities of such centers limit the establishment of its original purpose.
The Best EB 5 Regional Centers
There has been an increase in the number of EB 5 regional centers ever since the implementation of the immigration program in the United States of America. These regional centers were created to provide the required support to prospective seekers of a business project that hope to raise funds by foreign investment as well as enjoy the benefits of the EB 5 immigration program. It is also a medium created for potential foreign investors to make the best of franchising, the EB 5 program, and real estate business sectors.
However, it is important to know the best regional centers that can help you obtain a permanent resident permit in the United States of America. The best EB 5 regional centers utilizes a thorough approach and procedure to get recent information and updates on the different EB 5 regional centers, activity levels of different centers, comparison of related business projects, types of business projects, the status of particular business projects depending on the success level that has been attained, and UCSIS approval.
There are quite a number of factors to put into consideration when it comes to choosing the best EB 5 regional center. Foreign investors must understand that regional centers aren’t free of risks; it is possible for a foreign investor in a regional center to lose an investment without getting a visa. The approval of any regional center by the UCSIS doesn’t guarantee anything, investing in any regional center is equivalent to a form of business risk.
This writeup compiles the list of the best EB 5 regional centers, they include the following;
1. Vermont EB 5 Regional Center: this regional center is considered to be the best in the nation. Vermont EB 5 Regional Centre received an award as the best regional center in two consecutive years. The regional center has an artisan business group that deals with foreign investors from China. This regional center stands out due to its intensive application procedure, rigid support from the government, and the development of a strong brand for marketing.
2. DC Regional Center: this is another outstanding regional center that can help foreign investors to get a chance to enjoy the benefits of the immigration program. This regional centre has outstanding records of success, including several years of collaboration with Vermont’s regional center. DC regional center has assisted foreign investors from different countries to create jobs for American citizens; in return these investors now enjoy the benefits of EB 5 immigration program.
3. Silverstein Properties Regional Center: this center is an affiliate to the popular Silverstein Properties incorporation. This center is situated in the heart of New York, which is known as a suitable location for investments in technology, entertainment, media, fashion, and global finance. There are marketing agents at the regional center to assist foreign investors with projects that meet up with the stipulations of the EB 5 immigration program.
These three regional centers are guaranteed to help foreign investors from different countries to acquire a permanent resident permit.