How To Get Green Card For An Investor Through EB-5 Visa?
Welcome viewers to the legal segment of Sitaarre TV, my name is Shweta Khandelwal, I am an attorney practicing u.s. immigration and nationality law right here in Santa Clara. For those of you who have been following me for the last three weeks, you know that we’ve been discussing immigration incentives that have specifically been made available by the US government to foreign entrepreneurs. Many of these incentives have been recently recognized or introduced by the US Department of Homeland Security, however, one of these the EB-5 category of investment visas has been around for a while but is recently assuming popularity especially because of the backlog in the EB-2 and the EB 3 category of employment-based visas. One of the most underutilized categories of immigrant visas is the EB-5 visa. This visa has been around for quite a while it was introduced in 1990 and they are ten thousand immigrant visas available annually but about less than two thousand of them actually are issued. So this explains why there is great potential waiting to be exploited. Particularly with the recent backlog in the waiting time and the delays that are surrounding the EB-2 and the EB-3 category, the EB-5 is a very attractive way to get permanent residence for an investor and his family. There are 2 ways in which one can get a green card via the EB-5 process, one way is for the investor to directly invest a million dollars in a business or even a new business or an existing business and this business is usually set up in an area where there is advanced growth opportunities or you know a developed area something like the Silicon Valley. The other way would be to invest half a million dollars via a body or an organization called a regional center, that is typically set up in areas where there is high unemployment or where growth rate is low while the threshold amount of investment whether it’s a million or even half a million dollars appears high it is worthwhile to remember that this amount can get you a green card for yourself and your immediate family. Now an important thing to remember is that this investment must be from your own funds it must be funds that you have placed at risk they cannot be borrowed or is loaned or is on collateral. Now you may obviously ask how many people have a million dollars to invest, but there are a lot of creative ways to go about this while you may not necessarily have million dollars or half a million dollars in cash you may have that amount in home equity, so it is possible to leverage your home equity to set up a business in the US that generates returns for you and at the same time gets you and your family your green card. You need not set up a new business you can even invest this amount in an existing business in fact many business finds this an attractive way to get additional capital now because the government specifically wants to encourage the EB-5 program it is offering a lot of incentives to speed up the process at which it is adjudicating petitions it is also setting up direct independent channels of communication where by the investor will have access to a USCIS representative whom he or she can directly speak to regarding the status of the investment. In fact, very soon the government proposes to announce the premium processing facility for EB-5 petitions which will guarantee a response time of 60 days. This ensures that the investor can have his or her petition adjudicated quickly and if the petition is denied for whatsoever reason the money needs not to stand locked in the investment forever. The investor can always open an escrow account there is conditional on the visa being approved. So if the visa is approved the escrow will release the money to the business if the visa is denied the investor can take his or her money elsewhere. if you have any questions regarding what we discussed today or any of the preceding topics that we covered in the preceding episodes, feel free to send me an email at [email protected], I’ll be happy to answer your questions, see you next week.