In an effort to stimulate the U.S. economy through job creation, Congress created the Immigrant Investor Program. Under EB-5, foreign investors and job creators are allowed to visit the United States with the intention of investing in new, local businesses. The number of EB-5 visas made available is limited and only applicants who propose to promote economic growth will be considered.
At Peek Toland & Castañeda PLLC, our Texas EB-5 lawyers understand how difficult it can be to obtain a needed visa. But we know there is hope through skilled legal representation that has in-depth knowledge of the immigration system. To learn more about how you can pursue the visa that is right for you, call us at (512) 474-4445.
The primary purpose of the EB-5 visa is to promote new companies through foreign investments. All EB-5 investors must have interests in companies that were established after November 29, 1990, or an older company that was reorganized in a manner that resulted in a new commercial enterprise. Businesses that may be considered a new commercial enterprise under EB-5 must be for-profit and owned by a sole proprietor, a partnership, a holding company, joint venture, corporation, or business trust.
Proving You are a Job Creator
In order to qualify for an EB-5 visa, you must create or preserve at least 10 full-time jobs for U.S. workers within two years. These jobs may be direct or indirect jobs. Direct jobs are actual jobs that resulted from the investor’s capital. Indirect jobs are those that resulted collaterally from the capital invested.
Becoming a Capital Investor
You do not have to create jobs to receive an EB-5 visa. Some successful applicants are classified as capital investors. “Capital” refers to equipment, cash, inventory, and other property provided by the entrepreneur. If applicants are approved for this visa, it grants them and their dependents conditional permanent residency in the United States for a two-year period.
Only applicants who have invested more than $1 million of unborrowed money will be considered for an EB-5 visa. Capital investors can avoid that requirement if they invest at least $500,000 in a high-unemployment area or rural area. Targeted employment areas that meet this requirement typically have an unemployment rate of at least 150 percent of the national average. A rural area is any area that is outside the boundary of a town or city with a population of 20,000 or more.
Complications and Law Changes
According to a report by the Government Accountability Office, by the year 2005, very few foreign investors were using EB-5 applications because of how difficult the application process has been over the years. In 2011, however, changes were made to simplify the process and help more investors come to the United States. In fiscal year 2011, there were 3,800 EB-5 visas filed. This is a considerable jump considering that less than 800 EB-5 visas were filed in fiscal year 2007.
Staying abreast of the laws and regulations that affect visas can prove challenging. It is important throughout these important proceedings to have guidance from experienced Austin EB-5 investor visa lawyers with a long history of handling visa cases. Your future, and the future of your company, may depend on the legal resources available to you. A skilled lawyer can help entrepreneurs and job creators who are interested in building and growing their business in the United States.
If you or a loved one is considering an EB-5 visa, do not take another step before calling Peek Toland & Castañeda PLLC at (512) 474-4445. Our experienced Austin EB-5 investor visa attorneys are dedicated to protecting the rights and wellbeing of our clients and the loved ones that depend on them. We can help you start the process.