Qualifying Criteria For EB-5 visa

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
* 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.


• 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.


• In order to get away through the visa process easily, one can hire best immigration lawyer in Miami.


• 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).

How O-1 visa lawyer proves to be helpful in attaining O-1 visa

While filing for any petition its must to hire a lawyer or an attorney who is skilled enough to deal with any of the issues related to visa. Besides this, they need to have complete knowledge about the visa application procedure so that an immigrant can easily get away through it.

Many times we think that we ourselves can complete all the formalities of visa application; but no, as immigration law is quite an intricate form therefore one do gets stuck at a point of time. This is where the need for experienced lawyers becomes viable!

Still thinking how? Let’s have a look at how O-1 Visa Lawyers can help in streamlining the petition process of an immigrant.

• O-1 visa lawyer of NYC helps an immigrant in getting the green card of the United States.
• They would help in completing all the formalities of visa procedure.
• Immigration Lawyers provide guidance for other visas also if O-1 Visa is not suitable in one’s situation.
• To extent the O-1 visa, lawyer proves to be of great help in assisting the immigrant in this situation.
• They make immigrants prepare for the interview round which would be conducted by the visa authority heads.

Furthermore, they would explain you all information related to O-1 Visa that is important for you to get aware of, if planning to file a petition for O-1 visa.

Types

O-1 Visas is categorized in two types: O-1A and O-1B. The first type of visa is for the individuals in business, education, sciences or athletics and second type of visa is for individuals in the arts, motion pictures or television.

Qualifications required for this visa

To qualify for an O-1 Visa, applicant needs to show their qualification in the respective field. For example, the person in arts needs to have distinction, an applicant who is in television or motion picture he needs to sow that he is the notable personality in this field. Likewise, respective other applicants in business, education, science or athletics they also need to show their significance in each of their respective field.

Evidence required for an O-1 Visa

To attain this visa, an applicant needs to show evidences that would support his credentials. The foremost thing that is looked in by the visa authority is awards in the respective field of the applicant. If not achieved, then applicant would be required to submit any of the three evidences from the following:

• Prizes attained in the field
• Membership of the associated field associations
• Individual contribution in the respective carrier field
• Published articles in journals
• Salary slip

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O-1 visa lawyer in NYC or elsewhere can help in fulfilling your dreams to work in United States. So, do not wait right away contact a renowned lawyer of New York.