Under U.S. immigration law, qualified individuals seeking permanent residence on the basis of their engagement in a new commercial enterprise can do so by applying for investor visas (EB-5 visas).
Permanent resident status based on EB-5 eligibility is available to investors, either alone or coming with their spouse and unmarried children. Eligible application will need to meet the following requirements:
- Establishment of a business.
- Active involvement in the business.
- Investment of at least $1 million in the business ($500,000 is acceptable in certain designated areas) which can be in cash, equipment, inventory, etc.
- Engagement in business that benefits the U.S. economy.
- Creation of full-time employment for not fewer than 10 U.S. workers.
Qualified EB-5 investors are subject to “conditional” permanent residence for a two-year period. During this conditional period, the EB-5 investor must continuously meet the legal requirements for such investors. Ninety days before the second anniversary of the EB-5 investor’s admission to the U.S. as a conditional permanent resident, Form I-829 must be filed to remove this provisional condition.