Explaining the Job Creation Requirements Under the EB 5 Visa Program
Since 1965, the number of immigrants residing in the United States has more than quadrupled. And while the EB 5 investor visa program was not created until 1990, thousands upon thousands of people have been able to obtain EB5 category green cards and enter the U.S. under this program. That said, the EB5 visa process can often be tedious and complicated; there are strict requirements applicants must fulfill in order to come here (and to stay here). One of those requirements is that of job creation. In today's post, we'll take an in-depth look at the job creation requirements outlined by this program so that you can feel more prepared when you meet with your EB 5 immigration lawyer.
An Introduction to EB 5 Visa Job Creation Requirements
In order to receive an EB category green card and be allowed to remain in the United States, applicants must create at least 10 full-time positions. These jobs should be created within a "reasonable time," which is typically within a year or two of your U.S. residency. You must prove that you have created these positions before your visa expires. Otherwise, you will be unable to become a permanent resident under this program. In order to prove these jobs have been created and sustained, the investor must provide documentation such as tax returns, payroll records, W-2 forms, and other financial records.
Under the EB 5 visa program, there are a few different types of jobs that can be created. Job types are determined by the sort of investment made by the entrepreneur. If you've invested in your own business, you will be creating what is known as "direct" jobs -- people who are permanently employed within your own enterprise. For example, if you invest directly in a hotel, the jobs you create must be all within that hotel (e.g., concierge, managers, etc.)
Another option is to work with an EB 5 regional center, which is a private, for-profit business that's been approved by the U.S. Citizenship and Immigration Services (USCIS). If you choose to go this route to receive your EB5 category green card, you can create what is known as "indirect" or "induced" positions. Indirect jobs refer to positions that are created outside of the original enterprise but that were formed as a direct result of it. An example of such a job might be a supplier or manufacturer you use to help run your business or even the lawyers and security guards on which your business relies. Induced jobs are positions that are created within the same community as your enterprise and are formed due to its thriving economy. These jobs, which might include restaurant workers and real estate agents, are created in order to support the increased financial activity attributed to your enterprise.
When you apply for your EB 5 category green card, you may also have the option of investing in a troubled business. In these cases, job preservation is just as important as job creation. If a business meets certain requirements, an entrepreneur may be able to invest in this business and satisfy their job creation requirements. As long as 10-full time jobs are either preserved or created (or a combination of the two), this may be a viable option for EB5 category green card requirement satisfaction.
What Will (and Won't) Fulfill These Requirements
When trying to satisfy your EB 5 requirements, you'll need to keep a few important points in mind. These positions must be permanent, which means you cannot hire independent contractors for these jobs. However, the positions may still be considered to be permanent even if you don't have the same full-time employee working for you during the entirety of the job's existence. To be considered a full-time employee, that individual must work at least 35 hours per week. Only qualifying workers may hold these positions, a category that includes U.S. citizens, permanent residents, refugees, and asylees. These jobs cannot be filled by EB 5 investors or their relatives. One employee cannot hold two full-time positions, either.
We hope you found this post helpful. For more information on EB5 category green card requirements or to get started on this application process, please contact us today.