– The EB5 program allows foreign business people to invest in a business in the US to get green cards and become US permanent residents, after that, they will have the opportunity to become US citizens. EB5 visa holders can live and work permanently in the US with their spouse and unmarried children under 21 years old. The EB5 program is operated by the US Citizenship and Immigration Services (USCIS). The program was established by the US Congress in 1990 to increase investment in the US economy.
– To meet all requirements of the EB5 program, investors must invest their capital in a US business to make profit. The required investment is $ 900,000 or $ 1,800,000 depending on the location and type of business to be invested. If investing in the “Targeted Employment Area” (TEA), the required capital is $ 900,000. If investing in other cities, the required capital is at least $ 1,800,000. EB5 investment capital must create 10 full-time jobs for American workers for at least 2 years.
TEA is Targeted Employment Area. The old rules give states the flexibility to decide target employment areas, while the new rules will limit the list of TEA and are regulated by the US Department of Homeland Security (DHS). The TEA is defined by the following areas:
a. Rural area: Identified as an area that is not included in the standard of statistical urban area, approved by the Management and Budget Office. The area is not within the boundaries of any city or town with a population of more than 20,000 or based on census of the last 10 years.
b. High Unemployment Rate Areas: These areas used to have an unemployment rate higher than at least 150% of the national average. Since November 21, 2019, USCIS does not automatically approve any data for the TEA determination. Before November 21, USCIS also did not release any data on unemployment rates or methods. According to TEA data, the new regulation simply reiterates: The USCIS will consider the unemployment rate determination and the data sources which are used to calculate the unemployment rate, including figures from the Bureau of census (including data from the US Community Survey) and data from the Bureau of Labor Statistics.
USCIS has only changed the fact that the State can determine the geographic aspect of the TEA area, the use of the data for TEA analysis remains unchanged, and the data sources for using the TEA area remain unchanged.
The benefits that investors will receive when investing in the EB5 program
– Spouse and children (unmarried and under 21 years old) will receive green cards to immigrate to the US as a permanent resident.
– Maintaining jobs and assets in Vietnam, not bound to live full time in the US.
– Enjoy all rights as American citizens.
– Expand the advantages of business, living and studying in global zone.
– The lowest level of investment compared with other countries’ programs.
– Significant cost savings compared with studying abroad.
– No age limit, no foreign language requirement, no need to have relatives in the US.
No. To get a green card under the EB5 program, the investor needs to invest $ 900,000 in a project approved and decided by the US Government. At the same time, that investment must create a minimum of 10 full-time jobs for US citizens within 2 years. Buying real estate in the US worth $ 900,000 will not be considered as participating in the EB5 program and will not receive a green card.
There are many methods:
– Income from business profits
– Personal income: gift, donation, inheritance.
– Income from selling, mortgage real estate, trading securities…
Depending on each case, after the investor provides documents as required by Immica, Immica’s attorneys will give the investor the most favorable source of fund.