Common Misconceptions About The EB5 Immigrant Investor Program

The EB5 is just one visa to allow you into the United States. This is also known as the Immigrant Investor Program, and there are various misconceptions around it. The option may be available to you, but you need to be aware of the following myths.

You're Guaranteed a Green Card

This is the biggest misconception. Just because you get in on the EB5 visa does not mean you will automatically get a green card to become a permanent resident. You will need to invest in a business where your capital is considered at risk, and then apply for a green card. It's also worth noting that a green card does not mean permanent residency right away. It runs out every two years and you will need to reapply.

This isn't a fast path to a green card, either. Your application is not guaranteed to go through. There may be other, quicker options out there for you.

You Need to Be in the 1%

Another common worry is that you need to be wealthy. While you do need to invest a large sum of money, you don't need to actually have this in the bank. There are funding options to help you, including loans and even financial gifts that you can use. Your actual wealth will not be considered as long as you can invest into a business.

Only the Wealthy Benefit

You need to put in a lot of money, and it can seem to some that only those who can invest will benefit. The truth is the businesses will need to employ people. Another element is to have a minimum number of permanent employees. You'll be creating jobs for others, helping to lower the unemployment figures. Everyone benefits with the EB5 visa.

Big Security Checks Aren't Required

Some people view the visa as a quicker way to get into the country, as there won't be the security checks. This is a big myth. The U.S. Government has the security of the country as its main priority, and there are still background checks that will need to be run on individuals applying for an EB5. You're not guaranteed to be approved if there is something suspicious.

It's worth spotting the lies from the truth. There are misconceptions surrounding the Immigrant Investor Program, and these can lead to people filling out paperwork incorrectly and being disappointed when they are rejected. Know the truth and you will find the processes much easier.

To learn more about other legal processes, contact a law firm like Vandeventer Black LLP.

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