The government of United States created one Immigrant Investor program called EB-5. This is created to encourage investment in American business for nationals. This program has few rules like the Canadian should invest at least USD $1 million for lawful US permanent residence. One more point here is that commercial enterprise should also create 10 full time American jobs. EB -5 for Canadians is a great option offered by US.
In case if the commercial enterprise wants to create the business in TEA or Targeted Employment Area then, the minimum investment will be reduced to USD $500000. This is because TEA is the area which is declared as either high unemployment area or it is a rural region.
This investment program called EB – 5 for Canadians which offers Green card is administered by USCIS or United States Citizenship and Immigration Services. This is a division which is part of Department of Homeland Security.
One more important thing that investors from Canada should know is for first 2 years they will be given permanent residence status which is conditional. Later, after fulfilling all the requirements like expected job creation, they can request for removal of the conditions. Once they are removed, the investors becomes lawful and unconditional US permanent resident. Later stager they can apply for US Citizenship after five years. To keep their families intact EB- 5 investors can also bring dependent children who are under the age of 21 to United States. Both the spouse and the children are eligible for same visa status. If they are interested, along with the investors they will also be eligible for United States Citizenship.
Options in EB- 5:
Based on the laws by immigration legislation of US, wealthy families and individuals from Canada can be qualified for EB- 5 Visa in 2 ways.
One way is to make direct investment in the small business which is eligible and manage it actively. The way is to passively investing in an EB- 5 Regional Center. These Regional centers are organizations approved by USCIS. They are designed to manage EB- 5 investor’s immigration approval process and funds.
They use EB- 5 investor’s funds to buy equities which are located in TEAs and are major job creating and investment projects. Rather than direct investment, investing though the Immigration Center will offer lot of advantages for Canadians.
Benefits of EB-5 Regional Center:
- Both the induced jobs and indirect jobs will count for the EB- 5 jobs creation criteria
- One more advantage of this investment is the actual investors need not actively manage the business
- There is no rule that the actual investors should live near the EB- 5 project
- The responsibility of creating jobs will be on regional center managers