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What You Require to Know About EB-5 Visa and Green Card

By Abhinav Subscribe to RSS | December 19th 2011 | Views:
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The EB5 fifth employment based visa program is an ambitious initiative of the Government of the United States created by the Immigration Act of 1990. This visa provides a method of inviting foreign nationals to invest money in the country in lieu of the Green Card. It provides one of the rare opportunities to the eligible people across the globe to get the citizenship of the most dreamt and sought after destination, the USA -- a giant economy fueled by abundant natural resources, an unparalleled infrastructure, productivity and lifestyle.

Key Features

1. A Green Card through this program gives scores of benefits

a. Permanent Residence for the applicant’s family, i.e., spouse and single children under 21 years of age. You will be independent to live to take up a job or run a business anywhere in the country.

b. No English proficiency tests are needed for this visa.

c. You Enjoy all privileges as other US citizens

i. Free school education.

ii. University fees stipulated for any other citizen.

iii. Medical benefits after 5 years.

d. Your children will be able to access a wider job market.

2. EB5 visa needs an investment of at least $ 500,000 in a commercial enterprise in any of the 126 USCIS approved regional centers.

3. You get a conditional Green Card for two years.

Requirements

1. Your net worth must be at least $1 million, or have a high annual income.

2. A minimum of $ 500,000 for investment in the approved venue.

3. Additional processing costs of $ 50000 (non-refundable).

a. Application assessment and the processing, which also includes the fee of the attorneys

b. Filing fee of the USCIC

c. Medical check

4. Some necessary Documents

a. Character certificate from Police.

b. Documentary proofs of Date of Birth and Marriage.

c. Details of source of Funds.

How EB5 works

In EB 5  you choose from a list of approved USCIS targeted areas, to invest in

1. Creating new business enterprise,

2. Restructuring of an old company

3. You need to have a minimal policy-making role in the enterprise that can be regarded as an active role in management.

After the mandatory probation period of two years, you need to file a petition to satisfy the government on the predefined parameters, such as

1. Maintaining the investment for 2 years

2. Creating at least 10 full time jobs for qualified people within the targeted center throughout the period. The people to be employed do not however include the investor’s family members, non-immigrants, etc.

The permanent Green Card is issued within a year of qualified petitions. Citizenship is awarded after five years.

Abhinav - About Author:
ABHINAV Immigration is the World's leading Immigration and visa Consultation Company since its inception in 1994. Abhinav is engaged in providing professional assistance to immigrants and visa applicants applying for work permits, residence permit or EB5 visa.

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