Am I Qualified for an EB-5 Green Card?
Approval for the EB-5 visa is relatively high, and also EB-5 is emerging as a new popular quick way to obtain US green card. Many people may ask: can I apply for an EB5 investor visa? Is the EB-5 applicable to me?
Under the law, there are no clear requirements or statements exactly listing what kind of people may apply for EB5 visa. However, according to the investment requirements stated in regulation, qualified EB-5 candidates must be able to invest either $1 million or $500,000 in a U.S. business, depending on the program selected.
But EB5 may not be applicable to whoever is able to invest $1 million or $500,000 in accordance with each investor’s backgrounds.
Basically, EB5 visa does not require an employment offer or a labor certificate from a U.S. employer or labor department as other EB categories do. Therefore, EB-5 essentially offers a good visa solution for those who have the good financial resources to take risk, but not viable to obtain an employment-based categories.
Those ideal EB-5 prospects fall into but are not limited to the following scenarios:
1. Parents with enough financial support seek a U.S. education for their children, but do not want to be actively involved in business management.
Sending children to have an education in US is raising a big trend in mainland of China. Parents need to accompany and take care of the children in US without willingness to be actively involving in the business or employment. EB5 is ideal choice for those because EB5 does not ask investor have to be involved into business management they are investing in.
If, however, those who are emigrating for children education in US, may not have plenty of liquid assets to take the EB5 financial risk but having a solid professional background, other EB visa categories would be better for them.
Take two cases as examples:
Mr. Wang has earned 20 millions USD in these years from his restaurant business in Shanghai, China and his business is continuing growing. He and his life want to send his collage-aged children to study in US. EB5 visa is applicable for Mr. Wang and his family because Mr. Wang has plenty of liquid assets but no special professional or skill sets; and he does not qualify for other EB categories.
Dr. Li is a well-known professor with PhD in a highly-reputed university or research institute in Beijing. Dr. Li is retiring and wants to emigrate to US with family for his child. Dr. Li’s income mainly comes from salary, pension, stocks, and a real estate investment, totally 700,000 USD. If Dr. Li invests in EB5, he needs to sell his real estate he invested and risk other financial accounts. In this case, EB5 is not the best choice for Dr. Li. to invest most of his income and assets into EB5 because Dr. Li is vulnerable to EB5 risk but his professional background makes him qualify for other employment based immigration categories like an EB-1 or a NIW.
2. F-1 student who wants to start a business can directly apply for EB5.
Student Eric, 23, is studying with Master of Arts in US, holding F-1 visa. He received 600,000 USD as a gift from his family. His father is doing business in other country. Eric has no managerial experience nor does he have an advanced degree or special skill set to qualify for EB-1 or a NIW. Taking a family-based petition may take almost a decade for him because his family member has to obtain visa first and he is above 21 year old. So directly applying for EB-5 is a viable option for student Eric.
3. Individual owners of a non-U.S. business, but who cannot use an L-1.
Mr. Gao is doing shoes business in a non-U.S. company in Wenzhou, China with total 2 million USD liquid assets. But his production cannot meet the business regulations under the US law, so he cannot open or has to close his foreign business in US. It means he cannot use an L-1 visa. EB5 is advisable for him.
4. CEO/Managers of a U.S. company who are not an L-1 transferee.
Mr. Zhao has been a CEO in a US company for 6 years. With all income from salary, bonus, stocks and real estate investment, his liquid assets total 1 million dollars. He has managerial experience but is not L-1 transferee from a non-US company. So EB5 is viable for him.
Other scenarios include but not limited to
5. Retirees without professional degree or experience, including those who do not qualify for other EB visa.
6. Entrepreneurs, including those who don’t qualify for an E-2 visa.
7. L-1 applicants from China with cases under Consular investigation
8. Investors from non-treaty countries
For evaluating your specific situation to see if you are applicable for an EB5 investor visa, please contact NYC Metro Regional Center for more information.
Our contact information:
Tel: (718) 888-9668
Fax: (718) 888-9018