EB-5 Permanent Visa: The Million dollar Visa

EB-5: ALIEN ENTREPRENEUR VISA

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In this category,10,000 visas per year are available for immigrants seeking to enter the United States for the purpose of investing at least $1 million in a new commercial enterprise benefiting the U.S.economy and creating at least 10 full-time jobs for U.S.citizens, lawful permanent residents or other persons authorized employment in the US.

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Who can file and What to File

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An alien, Only alien on his or her own behalf may file for this classification on Form I-526. The status is acquired by establishing a new commercial enterprise by:

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(1) The creating of an original business;

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(2) The purchasing of an existing business and remaking it into a new commercial enterprise; or

 

(3) The expanding of an existing business by investing the required amount to effect a substantial change in the net worth or number of employees.(Substantial change means a 40 percent increase either in the net worth, or in the number of employees)

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Required amounts of capital

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    • In general and unless otherwise specified, the qualifying capital investment in the United States is one million United States dollars ($1,000,000);

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    • In a targeted employment area, the qualifying capital investment is five hundred thousand United States dollars ($500,000);

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    • In a High employment area, the qualifying capital investment is one million dollars ($1,000,000).

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    • Multiple investors can establish a new commercial enterprise and use that as a basis for an EB-5 petition if:

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        • each investor has invested or is actively in the process of investing , and
        • each individual investment creates at least ten full-time positions
        • The mixing of alien entrepreneur status seekers and nonseekers is allowed
        • The mixing of natural non-natural persons, foreign or domestic is also allowed
        • the source(s) of all capital invested is identified and l has been derived by lawful means.
        • The total number of full-time positions shall be allocated solely among the status seekers. The Service shall recognize any reasonable agreement made among the alien entrepreneurs in regard to the identification and allocation of such qualifying positions.

 

Mandatory Initial Evidence.

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(1) To show that a new commercial enterprise:

  • (i) As applicable, articles of incorporation, certificate of merger or consolidation, partnership agreement, certificate of limited partnership, joint venture agreement, business trust agreement, or other similar documents;

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  • (ii) A certificate evidencing authority to do business in a state or municipality and if not, a statement to that effect; or

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  • (iii) Evidence that capital has been transferred to an existing business, and that the investment increase the net worth by 140% or by 10+ (Show stock purchase agreements, investment agreements, certified financial reports, payroll records, or any similar instruments).

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(2) To show that the petitioner has invested or is actively in the process of investing:

Evidence thatcapital is at risk. Mere intent to invest will not suffice The alien must show actual capital commitment including, but need not be limited to:

    • (i) Bank statement(s) showing amount(s) deposited in United States business account(s) for the enterprise;

 

    • (ii) Evidence of assets purchased for the US enterprise, including invoices, sales receipts, and purchase contracts , their purchase costs, date of purchase, and purchasing entity;

 

    • (iii) Evidence of property transferred from abroad to US enterprise, including United States Customs Service commercial entry documents, bills of lading, and transit insurance policies containing ownership information and identify the property and fair market value of property;

 

    • (iv) Evidence of monies transferred or committed to be transferred to the new commercial enterprise in exchange for shares of stock (voting or nonvoting, common or preferred without redemption value); or

 

  • (v) Evidence of any loan or mortgage agreement, promissory note, security agreement, or other evidence of borrowing secured by petitioner’s assets other than those of the new commercial enterprise.

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(3) To show that the petitioner has or will invest capital obtained through lawful means:

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    • (i) Foreign business registration records;

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    • (ii) Corporate, partnership and personal tax returns including income, franchise, property (whether real, personal, or intangible), or any other tax returns of any kind filed anywhere within five years;

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    • (iii) Evidence identifying any other source(s) of capital; or

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    • (iv) Certified copies of any judgments or evidence of all pending governmental civil or criminal actions, governmental administrative proceedings, and any private civil actions (pending or otherwise) involving monetary judgments against the petitioner from any court in or outside the United States within the past fifteen years.

 

(4) Job creation — To show that a new commercial enterprise will create not fewer than ten (10) full-time positions:

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(A) Documentation of Form I–9, or other similar documents for ten (10) qualifying employees; or

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(B) A copy of a comprehensive business plan showing the need for at least ten (10) qualifying employees within approximate dates in the next two years, and when such employees will be hired.

 

  • (i) Troubled business. Show that the number of existing employees is being or will be maintained at no less than the pre-investment level for a period of at least two years. Show tax records, Forms I–9, or other relevant documents and a comprehensive business.
  • (ii) Immigrant Investor Pilot Program. To show that the new commercial enterprise meets the statutory requirement, show that the investment will create 10 full-time positions through revenues generated from increased exports resulting from the Pilot Program. See 8 CFR 204.6 (m)(3)

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(5) To show that the petitioner is or will be engaged in the management of the new commercial enterprise, either through the exercise of day-to-day managerial control or through policy formulation, as opposed to maintaining a purely passive role:

    • (i) A statement of the position and a complete description of duties;

 

    • (ii) Evidence that the petitioner is a corporate officer or a member of the corporate board of directors; or

 

    • (iii) If the new enterprise is a partnership, either limited or general, evidence that the petitioner is engaged in either direct management or policy making activities. (unless duties normally granted to limited partners under the Uniform Limited Partnership Act)

 

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(6) If applicable, to show that the new commercial enterprise has created or will create employment in a targeted employment area, the petition must be accompanied by:

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(i) In the case of a rural area,evidence that the new commercial enterprise is principally doing business within a civil jurisdiction not located within any standard metropolitan statistical area as designated by the Office of Management and Budget, or within any city or town having a population of 20,000 or more as based on the most recent decennial census of the United States; or

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(ii) In the case of a high unemployment area:

 

  • (A) Evidence that the area in which the new commercial enterprise is principally doing business has experienced an average unemployment rate of 150 percent of the national average rate; or
  • (B) A letter from an official local government stating the qualifying city or town in which the enterprise is principally doing business has been designated a high unemployment area. The letter must meet the requirements of 8 CFR 204.6(i).

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