If you are thinking to set up business in U.S., then you need to meet the qualifying criteria of EB-5 visa. Without doing that, an immigrant will not be allowed to go in the U.S. and set up a new venture.
Qualifying criterions for EB-5 visa:
- The investor needs to meet the following financial aspects: * Net worth of at least $1 million
- In the situation of “restructuring” or “reorganization”, qualifying criteria under the EB-5 is not defined, but key determinant will depend on whether 10 new jobs are created or not.
- At time of “expansion” of commercial enterprise, there would be an increase of at least 40% in net worth. This may also increase the employment number from 10 employees to 25.
- The project needs to be approved from target employment area (TEA).
- The business excludes non-commercial activity, like owning and running a personal residence or non-for profit business.
- The form of ownership would include sole proprietorships, limited or general partnerships, holding companies, joint ventures, corporations, and business trusts.
- Investment in a commercial enterprise is necessary to show, instead of establishment of it.
- The applicant must have a good role in management of the commercial enterprise.
- The capital contribution is done on the basis of cash or cash equivalents, equipment, inventory or other tangible property.
- The capital invested needs to be according to the fair market value of USD.
- The enterprise should meet regulatory requirements of American economy.
- The commercial enterprise must employ minimum 10 full time U.S. employees. Full time here means minimum of 35 hours per week. Two or more employees can share one full time position as well.
- Proper dates should be mentioned in the business plan that indicates visa issuance period, jobs, invested money, and many other aspects.
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- The commercial enterprise should be in the targeted employment area (TEA). In other words in a rural area or area that is facing high unemployment rate.
- The investor must have certification from the state, which will confirm the TEA (targeted employment area).
* Annual gross income of the last two years need to be at least $200,000
* Immigrant should meet the other requirements for an Accredited Investor as per defined in the rules and regulations.