EB5 is an employment based immigrant visa in US. The visa category was created by congress for immigrants wishing to enter the US in 1990 for a commercial venture in order to promote the economy. The project should create at least 10 jobs that meet the full-time category.
It is not easy to land an eb-5 visa. Generally, more than a thousand applications are filed under this category and only 13% of these get approved by the USCIS. The statutory requirements needed to qualify for the EB5 visa can be difficult. One of the main requirements for this visa is that it has to be a commercial project with a profit element. However, with some modifications made in 2002, the individual only has to present the ‘investment’ in a commercial venture with no need to prove that the business is established. But non-profit organizations are not considered.
Thanks to the farsightedness and intelligent decision of the US government, EB-5 investment plan has introduced direct foreign investments worth billions of dollars, while creating hundreds of jobs in the country at the same time. This is definitely good news at the time when the county is recovering from a tough recession.
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