An EB-5 visa, or Employment Based Firth Preference Visa, was created by the Immigration Act of 1990. This visa provides foreign investors a means of obtaining a green card to immigrate to the United States. The requirements to obtain an EB-5 visa can be confusing and complex. A Tulsa EB-5 investor visa attorney at Sobel & Erwin can help clarify the process, and can assist in filing the proper paperwork with the correct documentation to keep costly mistakes from happening. To obtain this type of visa, an investor must:
- Invest $1,000,000 or a minimum of $500,000 in a “targeted employment area,” which is an area with high unemployment or rural area
- Create or preserve a minimum of ten jobs for United States workers (excluding the foreign investor and their family)
- Invest in a new or existing job-generating enterprise, an existing business facing difficulties, or a USCIS Regional Center (a third party-managed private or public investment project which assumes the responsibility for creating the minimum ten required jobs for United States workers)
Upon approval of the EB-5 visa, the foreign investor and his or her family will be allowed a conditional permanent residence that will remain valid for two years. The investor must submit proof detailing that all requirements have been met within a 90-day period prior to the visa’s expiration, and that the ten jobs have been maintained, created, or will be created within a short time frame.
Oklahoma Investment Visa Lawyer Helps with EB-5 Changes
Due to changes in the filing process, the number of applications for EB-5 visas has increased drastically over the last 2 1/2 years. These changes, made by the USCIS, took effect in 2011, and include:
- There is now direct email between Regional Center Petitioners and the EB-5 visa adjudication team at the USCIS.
- Processing times have been greatly accelerated; with additional fees, an applicant can utilize premium processing for some petitions.
- An expert decision board was created to help with reviewing and approving applications for regional center petitions.
- The USCIS hired business analysts and economists to assist in the petition process and guide the decision-making process.
If you are considering applying for an EB-5 investor visa, Sobel & Erwin have the expertise and resources to ensure you complete all necessary documentation and meet all requirements for a successful outcome. Give us a call at 918-712-9888 and schedule a consultation.