Call today to schedule your immigration consultation 954-385-0157 or email: BAlvarado@Blandon-Law.com.

Blandon Law Immigration

Tuesday, November 24, 2009

$500K for residency


     Although the intricacies of labor certification are so detailed that I could study the subject each night from now until the Board Certification exam in March 2010, common sense dictates that I continue with other immigration law subjects.
     A seldom used path for obtaining legal permanent residency ["LPR"] is the Employment Creation category, known as EB-5.  It is for investors who will create at least ten U.S. jobs by investing in a new commercial enterprise.  There is burdensome minimum investment requirement of $1 million.  This amount is reduced to $500,000 if the investment is in a rural area or an area of high unemployment.
     Besides the amount of the investment, a major drawback to this LPR category is that investors are only given conditional permanent resident status for two years.  After that, the Citizenship and Immigration Service reviews the investment.  More information is available from the CIS website.
     Surprise:  the management and job creation can be direct or indirect, making this a perfect category for retirees from abroad who want to remain in the U.S. while pursuing other pursuits.

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