The United States Employment Based (Category) 5 Program provides a special category of immigration Visa for High Net worth international investors. This Program was started with a vision of stimulating the US Economy through job creation and capital investment by foreign investors.
EB5 Green Card Requirements
To qualify for an EB5 Green Card, the candidate must have made a substantial investment in a new commercial venture in the US. This venture should be able to create on a minimum of 10 full time employment opportunities in the US within 2 years. It is not mandatory for the candidate to be actively involved in the daily management and administration of the enterprise.
- A minimum investment of US$500,000 in a “Targeted Employment Area”- high unemployment or rural area, creating or preserving at least 10 jobs is the requisite for getting the US Green Card.
- A commercial enterprise is considered to be a ‘For-Profit’ activity formed for running a lawful business, including a sole proprietorship, partnership, holding company, joint venture, corporation, business trust or other entity which may be publicly or privately owned.
US Green Card applicants will also be obliged to match up to certain health and character requirements.
EB5 Green Card Entitlements
An EB5 Green Card entitles investors, entrepreneurs and businessmen, along with their families to stay and work anywhere in the US permanently.
A Green Card holder is allowed to work in any company in the US at any level and at any length of time without a sponsor.
The Green Card allows the holder to travel outside the US and return without any restriction. The Green Card holder can sponsor relatives to get their Green Card and enjoy the same benefits and rights to live and work in the US.
After having the Green Card for 5 years, the holder can apply for US Citizenship which will give the applicant the right to vote and run for the office.
With permanent residency in the US, the applicant can avail of social benefits, including grants, taxation benefits, insurance coverage, social security benefits, retirement benefits, health benefits, etc. With a US Green Card you can also own your own house, cars, while trying for financing for these purchases. The holder can start his/ her own business in the US as well.
An EB5 Green Card is normally granted for an initial period of 2 years where the candidate will obtain a conditional US resident status. Once the condition is withdrawn, the candidate will receive a permanent US Green Card that will provide permanent residence status in the US.
US permanent residents are entitled to attend any public or private school in the US. Green card holders pay less tuition fee for University & Colleges, referred to as “in-State tuition or Resident tuition”. Because of this, savings are considerable & in most cases, they are 3 to 4 times lower than what foreigners pay.
Holders are also entitled to work in the US without a Work Visa or employment authorization document, travel outside the US, although with few limitations, sponsor close relatives for US permanent residence, and apply for US citizenship when eligible.