EB-5 Immigrant Investors: Create 10 New Jobs, Get a Green Card
If you are a foreign national entrepreneur with at least $500,000 to invest in a US company, and you would like to live in the United States as a permanent resident, and eventually become a US citizen, you can do it under the EB5 immigration program so long as your investment will create 10 new jobs within two years after you get your green card, or will save 10 existing jobs for those two years in a troubled business. If you desire to immigrate by virtue of your investment, contact the experienced attorneys at the The Law Firm of Shihab & Associates. Our experienced attorneys have over 50 years of combined experience in a variety of complex immigration law matters.How does the EB5 program work?
Within mere months after filing your EB5 petition, the USCIS would issue a green card to you, your spouse, and to each of your children. This would allow you and your family to live anywhere in the United States. You and your family could attend US schools, colleges, and universities and also seek US employment. In order for you to qualify as an immigrant investor for EB5 immigration status, you must seek to enter the United States to engage in a commercial enterprise that benefits the economy, and your investment must create new full-time jobs for a minimum of 10 US citizens, US permanent residence, or immigrants having US work authorization.Who counts as an “employee?”
For EB5 purposes, an employee is defined as someone who provides services or labor for a new commercial business and gets wages or other compensation directly from the new commercial business. People who are not counted toward the 10 employee minimum include yourself, your spouse, and your children. Foreign nationals with non-immigrant visas are also not counted.What counts as a “job?”
The jobs created by your investment must be full time, requiring at least 35 hours of work per week. The jobs must require employment of qualified employees. The jobs are not required to exist when you make your initial investment or before the date your EB5 petition is filed. Your petition may be approved even with just your comprehensive business plan showing the business needs to hire at least 10 employees within the next two years. The 10 new jobs must have been created before the two-year anniversary date of your conditional permanent residency. This date is also the deadline for you to file a petition to remove the condition from your permanent residency. If a job becomes temporarily vacated during this two-year period, this will not disqualify you so long as you make good faith attempts to fill the position.Exception for “troubled business”
The rules are different if you invest in a “troubled” business because creating 10 new jobs is not required. Rather, your investment is required to save an existing 10 jobs. To qualify as a troubled business it must have existed for a minimum of two years, suffered a net loss for a period of 12 or 24 months before your petition is filed, and the loss must be at least 20 percent of the company’s net worth before the loss. However, if the troubled business does not survive for the entire two years following your investment, you may lose your conditional permanent resident status. If you have questions regarding the EB5 immigrant investors visa category, please contact our immigration attorneys or call The Law Firm of Shihab & Associates, Co., LPA at the nearest office close to you to consult with an attorney.