What is an EB-5?
The EB-5 visa, also known as the Immigrant Investor Program, is a way for international investors to get permanent residency in the US. Created by Congress in 1990, the program is designed to stimulate the US economy through job creation and capital investment by foreign nationals.
EB-5 visa holders and their immediate family members (spouse and unmarried children under 21) can get a green card, which allows them to live, work and study in the US permanently. This program has become very popular among global entrepreneurs looking to unlock the American Dream and access the US opportunities.
EB-5 Visa Requirements for International Investors
To qualify for an EB-5 visa, international investors must meet the following requirements:
- Investment Amount: The standard investment amount is $1.8 million. However, if the investment is made in a Targeted Employment Area (TEA), which is a rural area or an area with high unemployment, the required amount is $900,000. TEAs are designated to attract investment in areas that need economic development.
- Job Creation: The investment must create or preserve at least ten full-time jobs for U.S. workers within two years of the investor’s admission to the United States as a Conditional Permanent Resident. These jobs must be direct jobs, meaning actual identifiable jobs for qualified employees located within the commercial enterprise into which the capital has been invested.
- At-Risk Investment: The investment capital must be at risk for the purpose of generating a return on the capital placed at risk. Placing money in a U.S. bank account or buying a property for personal use does not qualify. The investment must be into a new commercial enterprise, typically a for-profit entity formed for the ongoing conduct of lawful business.
- Lawful Source of Funds: Investors must show that their investment funds are from a lawful source. This includes providing documentation, such as business or tax records to prove the source of their funds. This ensures the capital used for investment is legally obtained and traceable.
- Active Involvement: The investor must be involved in the day-to-day management or policy formation of the commercial enterprise. This does not mean the investor must be actively managing the business daily but must have a significant role in its operations, such as being on the board of directors or being an active partner.
What is an EB-1A Visa?
The EB-1A visa is a subcategory of the Employment-Based Immigration: First Preference (EB-1) visas. It is for individuals who have extraordinary ability in their field. Unlike the EB-5 visa, the EB-1A does not require an investment but instead focuses on the applicant’s achievements and recognition in their field. This visa is very popular among successful entrepreneurs, scientists, artists and athletes who have reached the top of their careers.
EB-1A Visa Requirements for Successful Entrepreneurs
To qualify for an EB-1A visa, applicants must meet the following criteria that demonstrate their extraordinary ability:
- Evidence of Extraordinary Ability: The applicant must provide evidence of a major, internationally recognized award (e.g., Nobel Prize, Academy Award) or at least three of the following:
- Receipt of lesser nationally or internationally recognized prizes or awards for excellence.
- Membership in associations that require the outstanding achievements of their members.
- Published material about the applicant in professional or major trade publications or other major media.
- Being asked to judge the work of others, either individually or on a panel.
- Original contributions of major significance to the field.
- Authorship of scholarly articles in professional or major trade publications or other major media.
- Work displayed at artistic exhibitions or showcases.
- Performance in a leading or critical role for organization or establishments with a reputation.
- Commanding a high salary or other high remuneration relative to others in the field.
- Commercial success in the performing arts.
- Sustained National or International Acclaim: The applicant must show they have sustained national or international acclaim and their achievements have been recognized in their field of expertise. This can be consistent recognition and documentation of the individual’s work and impact in their field.
- Intention to Continue Work in the U.S.: The applicant must show they will continue to work in their area of extraordinary ability in the United States. This can be through letters from prospective employers, clients or other relevant parties, detailing the applicant’s plans and potential contributions to their field in the U.S.
By better understanding these immigration paths, global entrepreneurs can navigate the U.S. immigration system and achieve success and growth in the United States. The EB-5 and EB-1A visas are two different ways to achieve the American Dream, each with its own set of requirements and benefits for foreign investors and extraordinary talent.
