In 1990 the United States Congress created a unique visa category called Employment Based-5 or EB-5. This visa is designed for immigrants seeking to enter the United States in order to start a business that would create at least 10 permanent jobs. Through the EB-5 visa, foreign nationals may gain a fast track to becoming a permanent resident, and ultimately, a United States citizen.
In order to be EB-5 eligible, the immigrating entrepreneur must invest at least $1 million or, if the investment is in a Targeted Employment Area, $500,000. The investment must be in a new commercial enterprise, not an investment in an existing equity. However, in meeting the requirement for creating 10 permanent jobs, investors may be credited with preserving jobs in a troubled business. Individuals holding the newly created jobs must be U.S. citizens, permanent residents, or other immigrants authorized to work in the United States.
About the Author:
Kevin Fitzgerald formerly oversaw U.S. Advisors, LLC. He is an experienced investor and financial executive.