For a green card, invest either $500,000 or $1 million in a business creating new jobs. The EB-5 visa program, also known as the “million-dollar green card,” previously required a $1 million investment but now accepts $500,000 investments.
There are Three EB-5 Visa Categories
- Invest $1 million in any US company, proving it creates 10 new full-time jobs within 5 years.
- Invest $500,000 in a US company in a high-unemployment or rural area, creating 10 new full-time jobs within 5 years.
- EB5 Pilot Program: Invest $500,000 in a government-approved project, like a mall or office building, creating 10 new full-time jobs within 5 years.
This fifth employment-based visa category provides up to 10,000 visas annually, with only 7.1% of all employment visas coming from this program. Despite the quota, there have never been enough applicants.
Since its 1990 inception, the program has seen significant growth, with many states, including New Jersey and Maryland, initiating new EB5 pilot program projects. While some criticize it as a way to “buy” a green card, it garners widespread support.
Not just anyone can “buy” a green card; stringent requirements must be met, such as having no criminal record or deportation history. Additionally, the invested business must prove creating 10 new jobs within 5 years, or the investor risks losing their green card.
The program benefits Americans by bringing investment from other countries, creating jobs and boosting the economy. Eligible immigrants, usually wealthy and educated, contribute to local, state, and federal taxes, reducing the need for social services. This investor visa also helps fund essential projects that states lack funding for, benefiting the entire nation.
Our Immigration Attorneys at Jurado & Associates, P.A. not only assist in obtaining EB-5 visas but guide you through the entire process. Whether you’re a business owner or seeking work visas, our attorneys are well-versed in Immigration Law and EB-5 Visa programs. Contact us at (305) 921-0976 or via email at [email protected].
