Foreign investors who want to become residents of the United States can do so by adhering to an immigration act sponsored in Congress in 1990. They can obtain what is called an EB-5 visa by investing $1,000,000 or more in business in this country while creating or preserving at least 10 jobs. The investor and his immediate family are excluded from being workers counted as job creation. Westkin will give you the best advice.
The original plan was to have the foreign investor create an entirely new business venture where the jobs would be created or preserved, but newer revisions to the law has broadened the definition to read that it can apply to any new or existing business and a new or existing “troubled business”.
If the approval is granted to the foreign investor, the he or she and any dependents will receive a conditional permanent residence in the US for a period of two years. The foreign investor must show that he or she has invested the proper amount of money and that at least ten jobs have been created or maintained, or will be created and maintained within reasonable limits. This must be documented within the 90 day period preceding the expiration of the visa.
A temporary pilot program was passed by Congress in 1992 allowing a broadening of the investment possibilities to economic units that are involved in the promotion of economic growth and increased regional activity and job creation. The 10 job requirement can be incorporated within this definition of the law.
Initially, the use of the program produced far less in results than anticipated. The total amount of applications by the end of 2007 had only totaled around 800. When the newer legislation was passed, things began to pick up. By the end of 2011, the application total was well over 3,800.
