People from all over the world want to live and invest in the United States. With the EB-5 visa program, you have one of the best ways to achieve this goal. What is the EB-5 program? Read on to learn about this visa program and its benefits.
What is the EB-5 Program?
The EB-5 program provides employment-based visas to qualified investors. The US Congress created the program in 1990 to stimulate the economy with foreign investment.
Under the program, foreign investors can be eligible for permanent resident status if they meet the investment requirements. At the time of writing, the minimum investment is $1,050,000. However, the minimum is lower for certain projects or investments in qualifying areas.
Along with the minimum monetary investment, job creation is also required. The investment should lead to at least ten full-time jobs for American workers.
Now that you know a little about the EB-5 program, let’s look at some benefits.
Legal Residency in the US
One of the most attractive features of the program is that it offers legal residency in the US. As long as you qualify under the program, you can get permanent resident status with an EB-5 visa.
Residency for Spouse and Children
It isn’t just legal status for the investor that makes this program so attractive. The EB-5 program can provide residency for the spouse and qualifying children of the investor. For children to qualify, they must be under 21 and unmarried.
Quicker and Simpler
Even if you are eligible for other types of visas, the EB-5 program is often faster and simpler. The program puts the investor (and some family members) on the fast track to permanent residency. Along with that, you do not need to meet the sponsorship requirements of other visa programs.
Right to Live and Work
As a permanent resident, you’ll have the right to live and work anywhere in the US. That includes states with no personal income tax, like Florida, Nevada, and Washington. It can also provide opportunities for children to work and get an education in the US.
Path to Citizenship
The EB-5 can also be one of the best ways to attain US citizenship. With your permanent resident status, you can move closer to citizenship. Investors may be eligible for US citizenship after five years of permanent residency.
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