The foreign investors who meet certain specifications can choose to come to America with help of the EB-5 Immigrant Investor Program that gives them this chance to attain residency rights in America. Unfortunately, not all people qualify. Here is a look at the different people who will not be able to get the EB-5 visa and their reasons.
What Are the EB-5 Qualification Requirements?
To be eligible for an EB-5 visa, an individual must:
– Invest a minimum of $1.05 million (or $800,000 in a Targeted Employment Area) in a new U.S. business.
– Create or preserve at least 10 full-time jobs for U.S. workers.
– Prove that their investment capital comes from a legitimate source.
While these requirements may seem straightforward, certain individuals may face disqualification. Let’s break down the key reasons why some may not qualify for the EB-5 visa.
Who May Not Qualify as an EB-5 Investor?
1. Unaccredited Investors
EB-5 program is designed to people who are able to put in major financial investments. This is why the US Securities and Exchange Commission (SEC) requires EB-5 investors to be “accredited”, meaning they must meet certain income or net worth thresholds. Those individuals who do not meet these financial criteria are mostly eliminated from this program.
Meeting the Accredited Investor Requirement
Indeed, one can be termed an accredited investor by either of these two qualifications:
– First, net worth exceeding $1 million (excluding their primary residence value); Alternatively
– Secondly, an individual with outsized earnings ($200,000 or more) over the period of the past two years (or $300,000 in the case where both partners still live together).
Failing to meet these financial benchmarks could prevent you from being eligible for the EB-5 visa.
2. Individuals With Criminal Records
U.S. Citizenship and Immigration Services (USCIS) is strict regarding applicants’ criminal history. Individuals convicted of serious crimes, particularly those involving moral turpitude, may be denied an EB-5 visa.
USCIS’s Waiver Application
While a criminal record can be a major barrier, certain individuals may apply for a waiver depending on the nature of the crime and other factors. However, waivers are not guaranteed and are often difficult to obtain.
3. Individuals Who Cannot Prove Their Source of Funds
One of the toughest EB-5 requirements is for the applicants to show that their investments were made from legal and genuine sources. Such an applicant may be denied the visa on this ground alone if he/she does not provide adequate documentation of where he/she got the money to invest in the USA. This is because many people use their illegal funds to borrow for investing in this program which includes cases of money laundering or fraud.
4. Individuals With Prior Immigration Violations
Applicants with previous violations of U.S. immigration laws, such as overstaying a visa or engaging in unauthorized employment, may be ineligible for an EB-5 visa. Depending on the severity of the violation, individuals may be subject to bars or restrictions that make it difficult or impossible to secure U.S. residency through the EB-5 program.
5. Individuals From Sanctioned Countries
The U.S. imposes sanctions on certain countries due to political or security concerns. Individuals from these countries may find themselves ineligible for the EB-5 visa program. Sanctioned countries can change over time, so it’s essential to stay updated on U.S. policies to determine whether your country of origin affects your eligibility.
Achieve Your Green Card Goals With Quantum Global Residency
If you’re looking to achieve your green card goals through the EB-5 visa program, Quantum Global Residency can help guide you through the complexities of the process. With our expertise, we assist individuals in navigating these challenges and ensuring they meet all qualifications, giving them the best chance of securing their EB-5 visa.
Reach out to us today to start your journey toward U.S. residency.
1. Can unaccredited investors apply for the EB-5 visa?
While EB-5 law does not explicitly require you to be an accredited investor, many EB-5 projects or regional centers prefer or require investors to meet the accredited investor standard. This typically means having a net worth exceeding $1 million (excluding the primary residence) or an annual income of $200,000 ($300,000 for couples) in the last two years.
2. How does having a criminal record affect my EB-5 visa application?
Certain criminal offenses, especially those involving fraud, money laundering, or violent crimes, may disqualify you from obtaining an EB-5 visa. However, in some cases, a waiver application can be submitted for minor offenses. Approval of such waivers depends on the severity and nature of the crime.
3. What documents do I need to prove my investment funds were legally obtained?
You must provide clear documentation showing that your investment capital was obtained lawfully. This may include:
- Tax returns
- Financial statements
- Business records Inconsistent or incomplete documentation may result in rejection of your application.