What is an EB-5 Visa?
The EB-5 visa is arguably one of the fastest ways for a Canadian citizen to obtain a green card in the USA. Canadian Citizens who wish to live permanently in the United States have the opportunity to become permanent residents in the US with the EB-5 visa program.
The United States Government introduced the EB-5 visa program to attract more investors to the country especially from Canada. Investors from Canada who are able to meet up with the USD $1.8million minimal investment to create a business that provides jobs for at least ten American citizens will have a clear pathway to becoming a permanent resident in the US.
However, investors that intend to create businesses in areas with high unemployment rates, will only need to invest a reduced amount of USD $900,000.
Who Can Benefit From the EB-5 Visa?
- Canadian citizens who have businesses or commercial firms and are looking to expand or open branches in the United States of America.
- Investors who are Canadian citizens, and are looking to Live and become permanent residents or American Citizens.
- Immigrants who moved to Canada because they were unable to obtain a visa to the United States or those who are just looking to move to the US from Canada.
- Canadian citizens who have retired and wish to live in the US for a more favorable climate to escape the cold Canadian winters.
What are the Requirements to Obtain an EB-5 Visa?
- Applicants must be at least 21 years old during the time of application.
- Canadian Citizens who are willing to invest in a business or create one in the United States of America. Investors must have at least US $1.8 M or minimum $900, 000 If the business is located in a Target Employment Area in Canada (Canadian Dollar 2.4 M or 1.2 M).
- The source of the investment money will be requested during the application process, and you will also be asked to provide evidence of how you acquired your investment funds.
How Do I Apply For An EB-5 Visa?
The entire process to apply for an EB-5 visa is so complex that it can overwhelm you if not properly handled. I also will recommend you employ the services of an experienced immigration lawyer for professional assistance.
Applicants who wish to apply for the EB-5 visa program should first fill a petition form (I-526) with US-CIS. And in this application, you must prove that you have made the necessary financial investments or you are about to invest in a commercial business or create a new business in selected areas in the US.
Canadian citizens and investors can also choose to wait if their application is accepted before making the necessary investments. However, they must be in the process of investing, and also show proof that they have the required capital to invest before applying.