In this edition of our immigration law newsletter, we would like to discuss the EB-5 investment visa program. This program allows foreign investors to obtain a green card for themselves, their spouses, and unmarried children under the age of 21 by investing a certain amount of money in a business in the United States.
To be eligible for the EB-5 visa, investors must invest a minimum of $1.8 million in a new commercial enterprise located in a Targeted Employment Area (TEA), or a minimum of $900,000 if the business is located in a rural or high-unemployment area. The investment must also create at least 10 full-time jobs for qualified American workers.
The EB-5 program provides a great opportunity for foreign investors who want to immigrate to the United States while also investing in the US economy. The program has been successful in creating jobs and stimulating economic growth in various sectors, including real estate, manufacturing, and technology.
However, the EB-5 program has faced some challenges in recent years, including lengthy processing times and a backlog of applications. In addition, the program has been subject to fraud and abuse, which has led to increased scrutiny and stricter regulations.
If you need assistance with a waiver or any other immigration matter, please don’t hesitate to contact Abhisha Parikh Law. We are here to help.