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EB5 / GREEN CARD REQUIREMENTS

The US EB-5 visa is also referred as “US investor visa”.  The EB-5 U.S. Immigrant Investor Visa Program is available for applicants who can invest US $900,000 (total amount deposited / committed to deposit into U.S. Business Accounts for New Commercial Enterprise (NCE), approx. INR 6.6 crores  (or) US $1,800,000 - Approx. INR 13.3 crores based on location of the area in a new business that can create 10 full-time jobs for U.S. workers.

Presently, the U.S. Citizenship and Immigration Services allows 10,000 EB-5 visas a year.  An applicant who wish to  invest US $900,000 or  US $1,800,000 in a commercial enterprise that will benefit the U.S. economy by starting a new enterprise can choose this visa category and this visa is designed for those Investors.

The new rule has been brought into effect from 21 November 2019 increase in the investment amounts from $500,000 and $1,000,000 TO $900,000 and $1,800,000 respectively.   The applicant, spouse and unmarried children below the age of 21 can be eligible towards obtaining Green card / Permanent Residence visa to United States. 

The advantage of the “regional center” designation is that jobs may be direct or indirect (as opposed to only direct) and qualify for the purposes of the EB-5 Pilot Program.

The application must be filed with Form I 526 to obtain permanent resident status under the classification of  "Immigrant Petition by Alien Entrepreneur".  The application must be also filed with the INS Service Center having jurisdiction over the area in which the new commercial enterprise is, or will principally be doing business.

THE FOLLOWING REQUIREMENTS TO BE MET BEFORE AN APPLICATION IS FILED:

1. Investment - The investment required to be made varies depending on where the commercial enterprise is located and it also depends on the unemployment rate in the geographic area. There are certain areas called "high employment areas", where the qualifying investment is $1 million. Other areas are called "targeted employment areas" which are in the rural area, or an area which has experienced unemployment of at least 150% of the national average and therefore, the investment requirement for the "targeted employment areas" is only $550,000.

2. 10 full-time employment positions - The jobs may be held by lawful U.S. workers, who could be any non-immediate family member including U.S. citizens, permanent residents, or other lawfully authorized workers to be employed in the United States.

3. Source of the money - The applicant must be able to show the legal source of investment capital and we will guide you in this aspect. 

4. Money invested at risk - The investor must commit his/her assets to the enterprise irrevocably and may not design an arrangement in which the full amount is not put toward the investment or not at risk. The Investment Capital is defined by the INS as cash, equipment, inventory, other tangible property, cash equivalents, and indebtedness secured by assets owned by the applicant, provided the applicant is personally and primarily liable.

5. Active participation in the business - The applicant does not need to be  actively involved in the management of the business, either through the exercise of day-to-day managerial control, or through policy formulation, for the investment requirement for the "targeted employment areas".

6. Active Enterprise – A commercial enterprise may be a sole proprietorship, a partnership (limited or general), a holding company, a joint venture, a corporation, a business trust, or other entity that may be publicly or privately owned for profit activity for the ongoing conduct of lawful business. A commercial enterprise does not include a non-commercial activity such as owning and operating a personal residence.

7. Conditional residence - The applicant will be admitted for permanent residence initially in a two-year conditional visa status. After 2 years at the end of residence period the applicant must apply  for removal of the conditions from his/her permanent residence by provided evidence that:

  • The business is still viable; 
  • The invested amount of money was irrevocably committed to the enterprise; 
  • 10 US permanent jobs were created and still exist in the enterprise.

8. Regulation for transfer - The Reserve Bank of India (RBI) recently in its financial policy appraisal improved the payment limit under Liberalised Remittance Scheme (LRS) to $250,000 per person per year.  We will be happy to guide in getting those clearances obtained.  

Bilimoria & Associate will be happy to assist and guide an applicant who is wishing to process under EB5  and process their application under investor application. This is the best time to apply on EB5 visa.

Bilimoria & Associate liaisons with Member of Oregon State Bar Association and Attorney in good standing, USA (OSB) towards preparation of a successful application for all types of visas for USA for the clients. Bilimoria & Associate and its members have many years of experience in the field of preparing successful application for all types of visas for entering USA.

Please write to us to assess your eligibility at: neville@bilimoriaassociate.com or contact us at +91 44 2822 7222 / 2823 9229 / 4350 8191 . We will be happy to assess your eligibility for an EB-5 application or a suitable visa to enter USA legally.

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