The United States immigration law provides several paths for foreign workers to enter the country on a temporary or permanent basis based on their employable skills. EB5 is one of them.
Some of these visa classifications, such as the H-1B or L-1A & B, which are temporary employment-based visas, have lately seen a general tightening of policies resulting in delays or restrictions for people looking to obtain permanent residency. Further, as an international student on an F-1 visa, it restricts the graduates’ ability to pursue employment opportunities beyond their field of study. That’s where the EB5 investor visa provides an excellent opportunity over other immigration programs.
With faster approval rates and a more secure path, the 5 program offers a number of benefits for investors, their spouses and children in their bid to get permanent U.S. residency.
“The EB 5 program provides an incentive for foreign capital investment.”
Let’s look at why the EB 5 program is the best way to secure a green card.
High Approval Rating
The EB5 program, by providing an incentive for foreign capital investment, including cash, equipment, inventory, property, and other tangible equivalents has a higher approval rating as compared to other programs.
While there are huge backlogs and delays for other employment and family-based immigrant visa categories, the EB 5 investor visa has an eligible backlog with 96.5% approval rates of I-526 petitions as per the FY 18, Q3 statistics.
This is a huge benefit especially when you consider the denial rates for other immigrant visa programs like the initial H-1B petitions that have quadrupled from the average 8 percent during 2010-2016 to an all-time high of 32 percent in 2019. For this reason, EB5 is often considered a direct, safer route to obtaining the green card.
Faster Adjudication Time
Other permanent residency petitions have long backlogs and can involve more than 10-12 years waiting time. On the other hand, investors in EB 5 projects don’t have to wait as long and can get a conditional green card within 18-24 months.
Enjoy Rights And Benefits Reserved for US Citizens
Once you have held the green card for 5 years, you can apply for full US citizenship under the EB 5 program. This allows you to enjoy a host of benefits and rights that are otherwise reserved for permanent US residents and citizens.
One of the main benefits is lower college tuition fees for unmarried children under the age of 21 years. Since they are eligible for a green card, they will only have to pay the in-state college tuition similar to residents.
They also qualify for financial aid via the Free Application for Federal Student Aid (FAFSA). Further, upon earning a degree, they are free to live and work in the US.
Freedom & Flexibility
The EB 5 visa accords greater freedom and flexibility in comparison to other immigration programs.
Foreign investors moving to the United States can live and work freely in the United States. This offers an excellent opportunity for families with children looking to pursue university education in the country.
Not only can they obtain their green cards while pursuing their degree, but they are also free to live anywhere in the US. And unlike the F-1 visa, there is no restriction on the time within which they have to apply for and secure a job to remain in the country.
EB-5 Investor Doesn’t Have to Live in the Place of the Investment
Once you invest in an EB5 project and qualify for the EB5 visa, you can live, work, and retire anywhere within the United States. That means you don’t have to necessarily live near your investment.
Further, the investors need not be responsible for the day-to-day running and management of the commercial enterprise where they invest.
“Once you qualify for EB 5, you can live, work, and retire anywhere within the United States.”
No Need To Find A Sponsor
The EB-5 visa is different from all other visa programs like the family-based visa or the H1-B visa. Here, you do not need a family member or an employer to sponsor you to gain US residency.
The foreign investor uses his or her own legally obtained funds to sponsor him or herself. Thus, it allows you to take charge of your future and jump start your journey to attain US permanent residency.
To know more about the EB 5 investor visa, click here!