Amount
of Investment
The
amount of the investment is USD $1,000,000.00,
to be invested in a United States enterprise
that produces 10 new jobs for Americans. The
amount of the investment is reduced to
$500,000.00 USA in designated rural and high
unemployment areas.
Source
of Investment
The
source of the investment does not have to be
abroad. The investor may still qualify by
borrowing and investing funds from a United
States source. The investment must be at risk.
The assets of the qualifying investment may
not be used to secure a loan for invested
funds. Borrowed funds may be secured by other
properties. The investment can not be secured
by the qualifying property. The investor is
not required to control the investment.
Minority ownership of the investment
enterprise is acceptable. The investor must
serve in a managerial or policy-making
capacity, which can be satisfied by limited
partners and Members of the Board of
Directors.
Requirements
of Investment
Each
investor must, by his investment, create 10
new jobs. Five investors acting together must
create 50 new jobs. If only three of the five
investors want Immigrant Investor Visas then
all jobs can be allocated to the three
prospective immigrants. Ten jobs does not
necessarily require 10 people A full time job
requires 35 hours per week. Several part time
jobs can be aggregated to create a full time
job credit. The Immigration and Naturalization
Services will review all immigrant investor
petitions two years after approval to verify
the investment and creation of ten jobs. The
money must be invested and the 10 new jobs
created prior to the two-year review.
Procedure
The
procedure is initiated with the immigrant
investor signing and returning all documents
to the investment broker. The investment
broker then deposits the Investment Capital in
an escrow (trust) account. If the business
investment is not approved by the United
States authorities, 100% of the Investment
Capital will be returned to the immigrant
investor. A Petition is then filed on behalf
of the immigrant investor. When the Visa
petition is approved by the United States
Government, the Investment Capital held in
escrow is now invested. The immigrant investor
and his family are next interviewed by
Immigration and Naturalization Services, at
which time they should be approved for
immigration to the United States. The
immigrant investor and his family enter the
United States as "Conditional Permanent
Residents", and are issued a Green Card.
Pilot
Program
This
Pilot Program, which was established in 1993,
operates the same as the Immigrant Investor
Program, with the two exception that, first,
the Pilot Program pre-approves Regional
Centers to invest in projects to promote
employment through increasing United States
exports, and,
second, the Regional Centers do not have to
hire 10 persons. The Pilot program is
currently restricted to 300 visas per year.
The Immigration and Naturalization Services
will pre-certify projects as "Regional
Centers" that aid United States exports.
Most approved Regional Centers relate to one
specific project such as hotel projects, etc.
Pre-approval of a project means that
Immigration and Naturalization Services has
agreed in advance that qualified investors
will receive a Green Card if they invest in a
Regional Center. Under the Immigrant Investor
Program, the applicant must first invest his
money and then hope that Immigration and
Naturalization Services will approve their
investment for a Green Card. . Investors in
the Pilot project are assured their investment
qualifies for a Green Card prior to
investment. Investors in the Pilot Program do
not have to prove the enterprise has employed
10 persons, as the Regional Center may rely on
government or private industry job multiplier
statistics rather than direct employment.
Immigration
and Naturalization Services approve Regional
Centers for specific projects that develop
United States exports. The greatest advantage
of the Pilot Program is that investors can be
assured their investment will be approved for
a Green Card before they invest. E-2 or L1-A
visa investors or other immigrant investors
must first make the investment and then hope
for approval by Immigration and Naturalization
Services before receiving their Green Card.
The Pilot Program is the only Immigration and
Naturalization Service program that offers any
assurance of receiving permanent resident
status. The immigrant investor receives a two
year conditional green card until Immigration
and Naturalization Services verifies the
investment.
At the end of two years, documents are filed
by the investor which will remove the
"conditional" status of the
permanent residency. At the end of five years
the immigrant investor and his family may
petition for full United States citizenship.
At the end of the five years the Investment is
returned to the investor immigrant.
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