Important Changes: The minimum EB-5 Investment increases to $900k in November. SEPTEMBER 30 is the last chance to apply! Don’t miss out on your chance to live the American dream. Loigica can help. Contact us today.

Created by Congress in 1990, the EB-5 visa program grants green cards to foreign nationals who plan to invest in an American company. If you think you may qualify, you should consult an immigration attorney to help walk you through the detailed requirements. In the meantime, here is a basic overview of the program.

What Is the EB-5 Visa Program?

According to the United States Citizenship and Immigration Services (USCIS), the EB-5 visa program was enacted to create jobs, stimulate the economy, and encourage foreign investment. Unlike visas based on employment or family status, this visa provides foreign investors with a way to gain permanent residency for themselves without having to obtain a sponsor. Before this program was initiated, an investor born outside of the U.S. could not become a permanent resident no matter how sizable their contribution to an American business.

Who Can Qualify for an EB-5 Visa?

In order to qualify, applicants must be investing in a U.S.-based, for-profit, commercial enterprise created after 1990. This can include entities such as partnerships, sole proprietorships, holding companies, and joint ventures.

A minimum investment of $1 million is required, or $500,000 in rural areas or areas with high unemployment, and the resulting business must create at least 10 new full-time jobs. However, new investment minimums will increase after September 30, 2019—the first increase in 30 years. After this date, you must invest $900,000 for rural or high unemployment areas or $1.8 million elsewhere. Those looking to make the cutoff for an application have until September 30 to file under the current regulations. 

While the investment does not need to be made before applying for the visa, the applicant must be able to prove that they have adequate funds to pay for it.

How Can You Apply for an EB-5 Visa?

The application process is complicated and requires a significant amount of documentation. It’s best to hire an immigration attorney to help you put together your paperwork and prepare all of the necessary financial records. Typically, it takes about 12-18 months for the form to be processed. If approved, the EB-5 visa grants conditional permanent residency in the U.S. for two years.

If you’re interested in applying for an EB-5 visa, the experienced immigration attorneys at LOIGICA® in Miami, FL, are eager to help. This multi-lingual firm also has offices throughout Central America and offers a wide range of services to foreign investors, app developers, tech companies, and other entrepreneurs. Visit their website to learn more about the EB-5 via process, and call (786) 292-9704 to schedule an appointment today.