The United States offers opportunity for wealthy people to gain entry to the country and boost its economy. This is known as employment – fifth preference visa. The visa allows people to gain permanent residency by entering the nation. The law does not prohibit any person to immigrate to a certain country, but the immigration authorities take due care due to fraudulent cases.
The number of green cards for investors is limited to 10,000 per year. However, if a large number of people have applied for a visa, they may get placed on the waiting list based on priority dates. After being put on the waiting list simplifies everything. Recently the limit that had been set has never crossed, as people from different countries do not need to wait.
There are many merits and demerits of the investment based green card. The EB- 5 Green card is conditional and it expires in two years. You may get a conditional green card to show that you want to invest in business and hire some workers. If you don’t get this, you do not require maintaining your eligibility in any manner and your green card may get cancelled.
A person may qualify for this visa by fulfilling all the conditions mentioned below:
- They should have the capability of investing $ 500,000 to $ 1 million for establishing a new business in the U.S.
- They should employ about ten workers may qualify for the U.S. green card.
- They should take an active role in their business and should not control it.
- They need to live in the United States and not use the green card for work or travel purpose.
If you want to try applying for a visa yourself and fail, you may ruin your chances of success in the future. If you desire to make an investment now and apply for green card later, it may cause huge financial loss. As long as you have money to invest and can explain your whole process of investment in any business, you don’t require to undergo a training process to gain experience.
The eligibility requirement is narrow and it is mainly because of fraud and misuse history. Some lawyers advise their clients to use their money in some other category so that they can gain more profits. By investing in a company outside the U.S., a person may qualify to immigrate in the position of transferring executive or manager.
You may invest your money in any business in the U.S., but you should get an unconditional green card for maintaining your investment and being actively engaged in the company you invested in. After getting an unconditional green card, you may work for any company or maybe not work at all. In case, any person misuses the green card, it can be taken away from them.
If you are in a position to afford investment-based green card, then definitely you are capable of getting a good immigration lawyer for yourself. You may need a lawyer as EB – 5 can be very tough as you need to prove your eligibility and the whole procedure may be very expensive. It is always good to pay something and get legal advice when applying for this visa.