US citizenship is an alluring prospect for foreign immigrants for several reasons. For starters, having US citizenship allows the immigrants to enjoy certain benefits including tax exemptions.
However, acquiring a green card is not at all like applying for any other visa. Especially, if you are trying to get it for business reasons.
The US Citizenship and Immigration Services keeps a check on who may receive a green card. Of course, there are several sets of rules and regulations to ensure the same.
In this article, we will discuss the different options to get a business green card.
Diversity Immigrant Visa Lottery
Every year, the US government awards 55,000 diversity visas. The process is also known as ‘Green Card Lottery’.
As you may already know, a green card holder enjoys several benefits over other immigrants. First of all, it offers a permanent legal residence status to the immigrants. The experts at usa-green-card.com explain that a green card holder also enjoys social security and public benefits. They further add, ‘green card offers you the chance to change your life for the better’ with permanent work authorization.
It means, with a green card earned through the lottery, the holder can take up any job or start any business. Besides, the lottery is one of the easiest methods to acquire a green card.
Applicants can enroll in the program at any time of the year. And there are minimal requirements, which means almost anyone can apply.
EB-5 Immigrant Visa
Evidently, a lottery is the easiest option for almost anyone, with minimal limitations. However, it is also noteworthy that there are only 55,000 residency cards distributed through this system. Besides, the pool of applications could also contain tourists, students, or relatives of US residents.
For someone who wishes to set up a business in the US, it might not be a good option, for there could be a long waiting period. So, the USCIS also offers specialty visas to entrepreneurs, employees, and other working professionals. Since this visa falls under the 5th preference of employment-based visas, hence the name EB-5.
Notably, this visa is also referred to as a million-dollar green card. Any foreign immigrant who wishes to invest $1 million (or, $500,000 in specialty sectors) can apply for an EB-5 visa. But, the investment should create at least 10 full-time positions for qualifying US citizens.
The EB-5 visa offers 2 years of conditional residency to the applicant. On successful completion of 24 months conditional residency, the immigrant and their immediate family members can receive a green card. Including, any dependants below the age of 21 years.
EB-1 Green Card for Extraordinary People
Another alternative for investors and entrepreneurs wishing to set up a business in the US is an EB-1 visa. This employment-based visa is offered preferentially to immigrants with extraordinary talent.
For example, a highly valued researcher or scientist is eligible for an EB-1 visa. Likewise, an internationally acclaimed musician or actor can also apply for an EB-1 visa.
This also includes investors and entrepreneurs. Considering the case at hand, that is for entrepreneurs and investors, EB-1 visa requirements are a little different. Firstly, they must already be successfully scaling a venture in their home country. Next, they should be able to specify the source of their investment capital.
Fulfilling the first condition is easy, but not the second one. To put this into perspective, when applying for an EB-1 visa, the immigrant business owners need to give complete details about their investment money. In other words, borrowing money from a distant relative won’t satisfy the second condition.
Additionally, to make this whole process less complicated, you can seek advice from an immigrant law firm. The experts at Feldman Feldman & Associates, PC believe it is imperative to have the correct information and guidance when dealing with such intricate matters. These experts can help you get the results you want, making the whole process a lot less stressful.
EB-2 National Interest Waiver
In most cases, an EB-2 visa is sought for preferential businesses and employment opportunities. Or better said, if immigrating a foreign national into the US can benefit a specific trade or employment category, an EB-2 visa might be a good option.
The core essence of this visa is to seek a waiver in labor certificates for fulfilling immigration conditions. It is, in many ways, similar to the EB-1 visa. However, there are more strict conditions as compared to the former.
For example, once a petitioner is granted an EB-2 visa, they must work in an area of substantial merit. However, for eligibility purposes, the applicant must first provide an advanced degree in the field, or prove exceptional talent, or both.
Moreover, while an EB-5 visa is generally applied by the employer of an immigrant, this is not the case for an EB-2 visa. The immigrant may self apply for the visa, which fulfills the needs of investors and entrepreneurs.
So far, you’re now familiar with the options that you have at hand. But, it is noteworthy that applying for a green card visa is not easy. It could take months before you can understand the legalities surrounding the visa application process.
How To Apply For Green Card Visa
Regardless of the reason for seeking a green card, the process is more or less the same, except for certain special requirements for special visas. You can get all the necessary information and forms on the official website of USCIS. However, it is still advised to consult with an immigration attorney.
The right attorney would not only help you fulfill the requirements but also ensure that your application does not get rejected. You might already know that rejections can further reduce your chances of securing an immigration visa, let alone be acquiring a green card.
In the end, when applying for a business green card, make sure that you have all the necessary documents to support your application. For example, your education certificates, capital to support your business and investment, and everything else. Once you have everything arranged in the right order, you can expect your green card to be granted.
We also suggest that you apply for any of the aforementioned visa types, along with registering for the diversity lottery. It should surely help improve your chances and secure a permanent residence in the US. So, you could begin with your business venture without any delay.