EB 5 Investment Visa - The Job Creation Requirements
One of the important parts of the EB5 investment visa is meeting the requirements related to job creation. But there are many details concerning this aspect which can be clarified by a specialized EB5 attorney.
The EB5 Investment visa is basically focusing on two major aspects. The first aspect is the investment itself which needs to amount a minimum of half million dollars. But, what most people do not know is that job creation requirements are just as important as the visa itself. The services of an EB5 attorney are recommended in case you are not completely satisfied with what you know.
Essentially, the EB5 investment visa is conditioned by the creation and preservation throughout the program of 10 full-time jobs. The jobs must be designed for US workers. Additionally, an EB5 attorney will inform you that sometimes the period for which the applicant must preserve the 10 jobs may extend over the 2 years period following the admission of the immigrant investor to the United States as a Conditional Permanent Resident.
Direct and Indirect Jobs
The EB5 Investment jobs can be direct or indirect. Here is some information about the two types of jobs:
- Direct Jobs are jobs which are created in the enterprise in which the investment is made. Such jobs can be easily identified and employees are qualified people from the area of the regional center.
- According to specialized EB5 attorney, indirect jobs are those jobs which are created in a company affiliated with the regional center as a result of the invested capital.
The purpose of this type of business is to preserve these jobs in a business field which is troubled.
Things to Consider
- Qualified Employee - Any US citizen or an immigrant who is authorized to work in the United States is considered a qualified employee. An immigrant may be an asylee, refugee, conditional resident, or any other person living in the United States who is under suspension of deportation. Those who are not authorized to work in the United States or are not immigrants according to the Immigration Law are not eligible. The EB5 attorney explains that the spouse or children of the EB5 investment visa applicant are not considered qualified employees.
- Troubled Business - A business that has at least two years of activity and that has experienced a net loss during the past 12 or 24 months is considered a troubled business. The two years are considered prior to the priority date on Form I-526. The net loss is calculated as a minimum of 20% of the net worth which the company used to produce before the net loss occurred.
- Full Time Employment - The EB5 investment visa requires that the 10 jobs are created under the provisions of full time employment. This means that the qualified employee must be able to work at least 35 hours per week. The same requirements apply in the case of indirect jobs according to the EB5 attorney.
- Job Sharing Arrangement - Sometimes, there are two or more employees who share the same full time job. The position is perfectly eligible for the EB5 investment visa program as long as the number of hours for each employee meets the hourly weekly requirement of 35 hours. Cumulated jobs, though they may meet the hourly requirements per week, are not considered admissible.
Padua Law is specialized firm in Houston, (Texas) and helps overseas investor in obtaining EB5 Investment visa.
Call EB5 Attorney Alejandro Padua at (713) 840-1411 for Free Consultation.
Alejandro represents individuals and businesses, domestic and foreign legal services and also serves as general counsel for clients, providing transactional and business/corporate law advice. He experience as an attorney at law with a unique insight into its complexities.
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