Many Florida immigrants are entrepreneurs or investors. Studies show immigrants play key roles in U.S. business success. In fact, if a person plans to create new jobs by investing capital in a U.S. business, he or she may qualify for a certain application for an adjustment of status, thereby obtaining a visa that allows conditional permanent residency. There are two main categories of this type of visa, which is known as an EB-5 visa.
Those who plan to invest $1 million into a U.S. business may want to learn more about the EB-5 program. If an investment is going into a new business in a targeted employment area, the amount may be lowered to $500,000. A targeted area would typically be a location where unemployment is a lot higher than the average national rate.
There are other requirements besides the amount of investment when applying for an EB-5 visa. The investment in question must also create jobs in the United States. The program, in fact, was launched in 1992 to help stimulate the U.S. economy.
Finally, an investment attached to an EB-5 application must be one that invests in a new business as opposed to an existing commercial enterprise. The conditions of this type of visa typically remain in place for two years. The program is not the only means for seeking an adjustment of status. At Cuevas, Gracia & Torres, P.A., in Florida, our legal team is committed to providing support in all aspects of status adjustment and U.S. immigration law.