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Another EB-5 program you should know about

We have spoken several times in this blog about the EB-5 visa, also known as the Fifth Preference visa category. This is a permanent immigrant resident status for those who invest a certain amount of money in a U.S. business.

There are actually two EB-5 programs. One is the regular program we have explained before. The other EB-5 program is known as the Regional Center program.

Unlike the regular program, the Regional Center program does not have the requirement that the investor create at least 10 full-time jobs. Instead, the investor may create “indirect employment” opportunities. His or her investment must create a combination of 10 direct and indirect employees for the business who are new to the Regional Center.

According to the U.S. Citizenship and Immigration Services, an “indirect job” is one created as a result of the EB-5 applicant’s investment, not necessarily in the commercial enterprise the investment was made in.

USCIS recognizes numerous Regional Centers in Florida. Several are based in Miami.

An investor in a Regional Center need not be in charge of day-to-day affairs of the business to qualify for EB-5 status. The law allows limited partners to qualify, as long as they have a role in policy-making at the company. This could be ideal for retired people looking to move to the U.S.

Another nice feature is that the EB-5 visa does not require you to live in the Regional Center. You can invest in a business in a Regional Center and live anywhere in the U.S. you wish.

Those considering changing their status to EB-5 should consult with a knowledgeable immigration attorney.

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