In 1990, Congress created the employment based 5th preference (EB-5) immigrant visa category. The EB-5 offers 10,000 “green cards” (permanent resident status) annually to immigrants who invest in U.S. businesses that benefit the economy and create or save jobs. EB-5 is available to those individuals who have invested or are in process of investing at least 1,000,000 USD in a new commercial enterprise employing 10 full-time U.S workers. The purpose of EB-5 is to stimulate job-creating investment by offering to investor immigrants the benefits of permanent residence in the United States.
EB-5 candidates do not need investment experience or any specific technical skills. The candidate may invest in a new start-up business or in an existing entity. After the immigrant moves forward with the investment and is approved by Citizenship and Immigration services (CIS), s/he obtains conditional residence status for two years. After two years, if s/he proves that s/he maintained the investment and created or saved at least ten jobs, the conditional status will be removed and s/he will become a full-fledged lawful permanent resident. S/he may also apply for citizenship after five years.
The recent extension and revisions to the EB-5 category is evidence of a commitment by the U.S. to attract and encourage foreign investors. There has been no better time than now for foreign nationals to invest in the United States and utilize the EB-5 category to attain their immigration goals.
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