As discussed in our recent article, Employment-Based Immigration Basics and Categories, there are multiple ways for an individual to gain citizenship through employment. These categories are called “EB” (employment-based) categories. Among these categories is the EB-5 “fifth priority” group, which is for immigrant investors. The United States Citizenship and Immigration Services (“USCIS”) implemented this immigrant investors program to create a pathway to immigration through investing in U.S. businesses.
How it started
Congress created the EB-5 Program in 1990 to stimulate the economy through job creation and capital investment by foreign investors. In 1992, Congress created the Immigrant Investor Program, also known as the Regional Center Program, which sets aside EB-5 visas for participants who invest in commercial enterprises associated with regional centers approved by USCIS based on proposals for promoting economic growth.[1]
Applying for an EB-5 visa
One can apply for an EB-5 visa if they meet the following two requirements set forth by the USCIS:
- Make the necessary investment in a commercial enterprise in the United States; AND
- Plan to create or preserve ten permanent full-time jobs for qualified U.S. workers.
If these requirements are met, one can initiate the filing process. However, various forms will need to be completed and submitted throughout the process, which is why it is beneficial to work alongside an immigration lawyer or professional who can assist you in knowing what to file and when.
What does it mean to invest in a “commercial enterprise?”
According to the USCIS definition, a commercial enterprise is any for-profit activity formed for the ongoing conduct of lawful business, including:
- A sole proprietorship;
- Partnership (whether limited or general);
- Holding company;
- Joint venture;
- Corporation;
- Business trust; or
- Other entities, which may be publicly or privately owned.
Under the EB-5 program, the investor must invest in one of the listed types of commercial enterprises that also meet the following criteria:
- Created after Nov. 29, 1990; or
- On or before Nov. 29, 1990, that was:
- Purchased and the existing business is restructured or reorganized in such a way that a new commercial enterprise results; or
- Expanded through the investment, resulting in at least a 40% increase in the net worth or number of employees.[2]
Welcome to the U.S., investors! Let us help you
The United States readily welcomes foreign investors through this specific pathway to citizenship. However, the application process can become overwhelming, and you should not have to take it on yourself. Working with an immigration lawyer helps avoid any delays in the process and ensures that you have everything filed correctly. For assistance in your EB-5 employment-based immigration process, contact Laizure Metz Legal Services at Christopher@laizuremetzlegal.com or (347) 625-7854.
[1] https://www.uscis.gov/working-in-the-united-states/permanent-workers/eb-5-immigrant-investor-program
[2] https://www.uscis.gov/working-in-the-united-states/permanent-workers/employment-based-immigration-fifth-preference-eb-5/about-the-eb-5-visa-classification