If investors invest a sizable sum of money in a US company and create at least 10 permanent jobs, the US will grant investors, their spouses, and unmarried children under 21 residency (a green card). According to the visa program, those who make sizeable investments and create at least 10 new permanent jobs in the US are given a green card.
Wealthy applicants from China and India are applying for the EB-5 visa program, also known as the “Golden Visa,” which allows foreign investors to earn a quick path to permanent US residency.
According to the visa program, those who make sizeable investments and create at least 10 new permanent jobs in the US are given a green card.
Recent EB-5 visa changes
According to specifics, the US government increased the minimum investment in areas with targeted employment from $500,000 to $800,000.
Additionally, Congress revised the required minimum investment for projects in non-targeted unemployment areas from $1,000,000 to $1,050,000.
EB-5 visa requirements:
As previously stated, an investor must invest a minimum of $800,000 in targeted employment regions or $1,050,000 in non-targeted unemployment areas to be eligible to apply for an EB-5 visa. The money must be used to establish a new business that will employ at least 10 eligible individuals full-time.
The business enterprise where investments may be made, according to the United States Citizenship and Immigration Services, comprises a new commercial company founded after November 29, 1990. It can also be produced at a company that was already in existence on or before November 29, 1990, but has subsequently developed by investing at least 40% of its net value or personnel, as stipulated in the quint.
Controversies:
While the EB-5 visa system guarantees jobs for US residents, opponents have pointed to financial anomalies and suggested potential national security or transparency concerns.
Aside from that, the strategy failed to target low-income communities and was tarnished by financial scandals involving multi-million dollar fraud cases extending from California to Vermont’s ski slopes.