EB5 Requirements to Meet U.S. Permanent Residency Requirements
In order to meet the requirements set forth by the US Citizenship and Immigration Services (USCIS) for the EB5 Investment Visa Program, there must be a clear demonstration that the following have been established:
- A new commercial business, establishment, or enterprise has been created.
- According to revisions to the USCIS EB5 Policy Memorandum, an example of creating a new commercial enterprise can also include the conversion of pre-existing businesses. The draft cites two examples for such an instance: Turning an existing restaurant into an open nightclub or adding a significant amount of crop growth to an existing farm.
- The mandatory amount of capital has been invested into the project.
- The minimum investment of $1 million (or $500,000 if the investment is for a project located within a target employment zone) is made;
- The EB5 investor has fully demonstrated that the capital investment funds have been completely attained through legal means.
- The proper required number of full-time jobs have been made due to the project.
- At least ten full time positions for employment must be created per investor applicant.
- According to revisions to the USCIS EB5 Policy Memorandum, the investment funds can be used for purposes unrelated to the creation of jobs so long as it helps the project create jobs. The revision draft cites purchasing land, hiring the staff for a newly built hotel, and receiving construction real estate licenses as examples.
5. The EB5 investor has actively participated in the business he/she is investing in by the attainment of voting rights.
- These rights are similar to those of a limited partner of a limited partnership.
6. Wherever possible, employment opportunities have been created within a targeted employment area.
- A targeted employment area is defined as being an area where the unemployment rate 150 percent or more of the national rate, a rural region that contains a population of less than 20,000, or a business that has seen a decline of at least 20 percent in value over the past year to two years.
- According to revisions to the USCIS EB5 Policy Memorandum, multiple EB-5 investors applying independently or through different regional centers cannot claim credit for the same project. The purpose of this revision is to prevent the double-counting of jobs created.
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