EB-5 Investor Visas
The EB-5 Investor Visa Program allows eligible investors to apply for their green cards if they meet certain criteria, including a minimum investment amount and the creation of jobs for U.S. workers.
The minimum required investment amount is $1,800,000 in most areas, or $900,000 in a “Targeted Employment Area.” Targeted employment areas (“TEAs” are geographic areas that are either rural or have high unemployment rates. There is no list of TEAs; instead, TEA designation will occur when the EB-5 investor is applying for the EB-5 visa. It is up to the EB-5 applicant to prove that a particular area qualifies as a TEA, as part of the application process.
An investor must create at least ten permanent, full-time jobs for qualified U.S. employees to qualify for an EB-5 visa. Qualified U.S. employees include U.S. citizens, lawful permanent residents, or other immigrants authorized to work in the United States, including conditional residents, temporary residents, asylees, refugees, or people residing in the United States under suspension of deportation. This definition does not include immigrant investors; their spouses, sons, or daughters; or any alien in any nonimmigrant status (such as an H-1B nonimmigrant) or who is not authorized to work in the United States. Temporary or seasonal jobs do not qualify as permanent, full-time jobs.
EB-5 investors also must invest in a commercial enterprise, defined as a for-profit business such as a sole proprietorship, a partnership, a holding company, a joint venture, a corporation, a business trust, or other business entity, which may be publicly or privately owned. Non-commercial activities, such as owning and operating a personal residence, do not qualify as commercial enterprises.
The commercial enterprise in which an EB-5 investor chooses to invest may be one which already exists or one created by the EB-5 investor. Commercial enterprises created after November 29, 1990 qualify. Commercial enterprises created on or before November 29, 1990 that meet certain criteria may also qualify, including either being purchased and reorganized such that a new commercial enterprise results, or being expanded such that the net worth of the business or the number of employees increase by 40%.
If you are interested in learning more about the EB-5 investor visa, contact Tanner Law Offices at (717) 731-8114 to schedule a consultation with one of our attorneys.