EB-5 Immigrant Investor Visa scheme generating new US jobs

United States, 22nd August: New immigrants with entrepreneur skills are getting opportunity to create new jobs in the US through the EB-5 Immigrant Investor Visa program.

This US visa program has, till now, created around 31,000 jobs for Americans. The scheme was created by the US government way back in 1990.

The US has gained around $1.5 billion worth foreign investment through immigration of 3,000 immigrant investors under the EB-5 visa program.

Eligibility criteria for US EB-5 Visa scheme—Speaking of the eligibility rules for EB-5 visa program, any foreigner having entrepreneur skills and ready to make investment in the US is allowed to come and begin business here.

• A minimum investment required to be made by any aspiring immigrant entrepreneur is half-million US dollars in any region having an unemployment rate of 150 percent of the nation’s average. In other regions, the minimum amount to be invested by potential immigrant entrepreneur must be $1 million.

• Foreign investors are given a US Green Card on the condition that they will create at least 10 jobs in the US within a period of two years from the date of their application’s approval.

An immigrant investor successful in creating 10 jobs in the US within stipulated time is allowed to get permanent US Green Card. This makes the foreign investors lawful US resident workers.

Poor success rate of foreigners getting permanent US Green Card--Latest official statistics released by USCIS (US Customs and Immigration Services) state that out of every five foreigners seeking US permanent residence, just one has been successful.

Out of 15,320 immigrant investors applying for conditional US Green Cards, just 8,709 have been granted. Moreover, the average processing time taken by US immigration department for an average of 1526 applications is around five months, the statistics further reveal.

Only 3,293 applications for US permanent residency have been given approval by the USCIS out of the total 6,222 applications received through March.

This means out of total 15,320 applicants applying for permanent residency under the US EB-5 program, only 3,300 immigrants have become US permanent residents, which comes out to be 20 percent.