Benefits of an EB-5 Visa (Green Card)
Embarking on a new journey in a foreign land is both exhilarating and challenging. Aspiring to achieve dreams of a prosperous life, many individuals seek opportunities to establish themselves and their families in the United States. One such pathway that has gained tremendous popularity is the EB-5 Visa, commonly known as the Green Card. The United States government issues over one million permanent Green Cards annually and in general, permanent resident status is granted to those who fall into one of three categories:
- Green Cards for Employment-Based Immigrants.
- Green Cards for Family Preference Immigrants.
- Green Cards for an Immediate Relative of a US Citizen.
The EB-5 visa, classified within the five employment-based preference categories, holds a prestigious position among the avenues for immigration to the United States. Out of the total 140,000 immigrant visas made available each year, approximately 10,000 are allocated specifically for qualified EB-5 applicants, emphasizing the significance and limited availability of this sought-after opportunity.
The Advantages of a US Green Card
As an immigrant eager to make the most out of life in America, you may wonder, ‘What benefits do Green Card holders get once based in the US?’ Immigrants who gain permanent residence status in the US can take advantage of numerous significant Green Card benefits that include:
Work & Reside in the United States
One of the primary Green Card advantages is that holders have the legal right to remain in the U.S., which not only allows them to work and reside in the country but also provides them with access to a wide range of employment opportunities. This enables Green Card holders to pursue their career goals, contribute to the U.S. economy, and establish a stable and prosperous life for themselves and their families.
Path to U.S Citizenship
Green Card holders have the option to apply for US citizenship after they have lived in the United States for at least 5 years (or 3 years if you are married to a U.S. citizen). While the Green Card benefits are numerous, many people eventually decide to take the next step and become naturalized citizens. Citizenship provides protection against deportation and allows individuals to vote in elections and hold certain government positions.
The Ability to Travel More Freely
Green Card holders can travel freely within the United States and its territories without any restriction. Moreover, US Green Card benefits allow permanent residents to travel outside the US and return without hassle if they carry their Green Card.
World Class Education
Green Card holders get access to a number of different forms of federal student aid, such as grants, loans, and scholarships. They can save money on higher education costs by qualifying for public universities’ lower in-state tuition rates.
Access to U.S Healthcare
Green Card holders get access to a number of different forms of federal student aid, such as grants, loans, and scholarships. They can save money on higher education costs by qualifying for public universities’ lower in-state tuition rates.
Access to Social Security Benefits
Social Security is a government program that provides retirement, disability, and survivor benefits to eligible individuals. Green Card holders are eligible for Social Security benefits after working and paying taxes in the country for a certain period of time.
Access to a Robust Financial System
The United States has one of the most robust financial systems in the world, with a well-developed stock market, bond market, and banking system. As a Green Card holder, one can take advantage of these opportunities and invest in US-based assets.
The Privilege of Sponsoring
A Green Card has the power to uplift and revolutionize not only an individual’s life but also the lives of their beloved family members. One of the significant benefits of holding a Green Card is the opportunity to sponsor specific family members, including spouses, parents, siblings, and children.
What Responsibilities Should Be Taken After Obtaining a Green Card?
There are specific obligations that must be met after obtaining a Green Card. The following is a list of the critical responsibilities:
- One must file income tax returns and report their income to the Internal Revenue Service (IRS) and state tax authorities. This is mandatory, even if the Green Card holder lives outside of the United States.
- One must obey all the laws of the United States, the state of residence, and the local jurisdiction. Failure to do so can result in losing one’s Green Card status.
- Males between the ages of 18 to 25 will need to register for the Selective Service. The Selective Service is a US government agency that maintains information on potential military conscripts. Although the United States has not had a draft since 1973, US male residents must still fulfill this obligation and are required by law to register with the agency.
- It is essential to always carry a valid Green Card. It is a form of identification and must be kept with its holder.
- Like US citizens, Green Card holders cannot attempt to change the government illegally. This includes participating in any acts of terrorism or violently overthrowing the government.
Some Limitations for Green Card Holders
While having a Green Card comes with numerous benefits, such as being able to live and work in the United States, there are also some limitations one should be aware of. Here are some of the limitations that come with having a Green Card:
- Green Cards are not transferable to children born outside the United States.
- If one decides to leave the US permanently after being a Green Card holder for eight years or more, they may be subject to expatriation and exit taxes, just like US citizens who renounce their citizenship.
- While USCIS offers protection from deportation, it is not always guaranteed. Certain crimes could lead to deportation under immigration law.
- One must renew their Green Card every ten years to maintain their status as permanent residents.
- One cannot vote in US elections until becoming a US citizen, and only natural-born US citizens can run for the US presidency.
Knowing the limitations of having a Green Card is just as important as understanding its benefits. While Green Card holders may not have all the rights of a US citizen, a Green Card is still a valuable status that provides many opportunities and advantages in the United States.
Getting a Green Card through Investment
The United States Citizenship and Immigration Services (USCIS) offers an Immigrant Investor Program, also known as the EB-5 Program, which presents a remarkable opportunity for foreign nationals seeking to secure permanent residency in the United States. This program operates on the principle of investment, where individuals can make a substantial capital investment in a qualifying US business. By meeting the program’s investment requirements, applicants not only contribute to the growth of the US economy but also pave their way toward full residency.
Under the EB-5 Program, investors are required to invest a minimum amount of capital, which varies depending on the location of the business. This investment is intended to create job opportunities for US workers, stimulating local economic development. By actively participating in job creation, EB-5 investors contribute to the vitality and growth of the communities they choose to invest in.
In return for their investment and commitment to job creation, successful EB-5 applicants are granted conditional residency, initially valid for two years. After the completion of this conditional period and upon meeting all program requirements, investors can then apply for the removal of these conditions, leading to the attainment of a Green Card.
What are the Benefits of Having a Green Card through Investment?
One significant advantage of obtaining a Green Card through investment is that it offers a relatively straightforward path to permanent residency in the United States, allowing individuals to secure their future without the need for a specific job offer or a sponsor. This investor-based approach distinguishes the EB-5 Visa program from other immigration programs, offering a unique opportunity for individuals to take control of their immigration process.
In addition to this overarching benefit, having a Green Card through the EB-5 Visa program provides a range of specific advantages that set it apart from other Green Card categories. Firstly, investors enjoy job flexibility, as they are not tied to a specific employer or job position. Unlike employment-based Green Card categories, which often impose employment restrictions, EB-5 Visa holders have the freedom to explore various employment opportunities and pursue their entrepreneurial ambitions.
Another benefit is the absence of labor certification requirements. While many employment-based Green Card categories necessitate the complex process of labor certification, the EB-5 Visa program streamlines the application process by not imposing this requirement. This simplifies the process and reduces potential delays, making the path to permanent residency more efficient for investors.
The EB-5 Visa program also offers the advantage of priority dates. Once an EB-5 petition is approved, investors are assigned a priority date, which determines their place in the visa queue. This priority date can be advantageous as investors progress through the Green Card application process, potentially resulting in faster processing times compared to other categories.
Lastly, the EB-5 Visa program has a comparatively lower job creation requirement, mandating the creation of a minimum of 10 full-time jobs for qualified US workers. This requirement is often more attainable for investors compared to higher job creation thresholds in some employment-based Green Card categories.
Wrapping Up
In conclusion, obtaining a Green Card through investment is a significant achievement that can provide numerous benefits and opportunities, and offers a straightforward path to permanent residency in the United States. This unique investor-based approach distinguishes the EB-5 Visa program from other immigration programs and provides individuals with greater control over their immigration process. With benefits such as job flexibility, absence of labor certification requirements, priority dates, and lower job creation thresholds, the EB-5 Visa program presents a compelling opportunity for those seeking to secure their future and pursue the American dream. By understanding the advantages, responsibilities, and limitations of having a Green Card through investment, individuals can navigate the process effectively and embrace the countless opportunities that come with this prestigious status.