This preference is for employment-creation (a/k/a investor) visas. It provides conditional residency for those who, after November 29, 1990, invest $1 million in a new commercial enterprise that employs at least 10 full-time U.S. workers. Conditional residency means that the beneficiary receives temporary residency for a two-year period, at which time an application is made to remove the condition and grant permanent residence.
Within 90 days of the anniversary of the grant of conditional resident status, the person may request that the condition be removed so that he or she will become a Lawful Permanent Resident. In order to receive permanent residence, the applicant must have substantially met the capital investment requirement.
For help, contact our Glendale immigration attorney at the Arnaout Immigration Law Firm. We offer initial consultations to help you get started.
A lesser investment of $500,000 may qualify the investor if the investment is in one of the targeted employment areas. These include rural areas with populations of less than 20,000, or locations that have experienced unemployment at 150 percent of the national average.
Under the Departments of Commerce, Justice, and State, the Judiciary, and Related Agencies Appropriations Act of 1993, a pilot investor program was established that relaxes the standards for the investor. The pilot program permits investments through “regional centers” with a relaxed job-creation requirement. The regional centers apply to U.S. Citizenship and Immigration Services (USCIS), demonstrating how the program will promote economic growth. Upon approval, a foreign investor’s investment in one of these centers may qualify him or her for the immigrant visa. Of the 10,000 EB-5 visas available annually, 5,000 are set aside for those who apply under the pilot program.
Call the Arnaout Immigration Law Firm at (818) 276-9900 today for more information.