A few months ago, the United States Congress reactivated the EB-5 Program to obtain permanent residence (green card) for investment -which was suspended for almost a year- through a minimum investment of US$800,000 in specific regions.
One of the benefits of the new regulation is that now investors are not required to wait outside the United States, but those who are in the country can remain in the country with work permits while they wait for the processing of the EB5 permanent residence.
In addition, the Immigration Service (Uscis) resumed the pending case processing that had been suspended during the expiration of the program, in 2021.
Andrés Echevarría, partner at Vivanco & Vivanco, a lawyer registered in the United States and a specialist in immigration law, offers advice on visa applications in Buenos Aires and throughout the country through its immigration visa unit.
The firm, which has offices in Miami and Buenos Aires -among other cities- and has an immigration law practice area in the United States that covers all kinds of immigration strategies for individuals and companies, including investment, work and of family, explains the different types of visa that can be applied for and the conditions required by each of them:
E visa: requirements
It is aimed at those foreigners who are in the treaty with the United States to obtain an investor visa without having to invest a large amount of money, but without the intention of permanently immigrating to that country. On many occasions, a $100,000 investment in a business is what the US considers substantial.
The Immigration Service (USCIS) resumed the pending case processing that they had been suspended
To be administered under the E.2 program, the applicant must be a native of a country that is in the treaty with the United States.
The E.2 visa allows you to invest in your own business in said country, without limitation of the type of businessoo place where you want to settle. It also allows you to buy an existing business.
EB5 visa: who is this program for?
This program is aimed at those who are interested in investing at least between US$900,000 and US$1,800,000 with the intention of permanently immigrating to the United States; The investment is determined according to the nature of the business where it is established.
This type of visa requires the foreigner to invest in an entity approved by the United States. One of the requirements is that the investment results in the creation of at least ten full-time jobs. This type of visa allows spouses and unmarried children under the age of 21 to obtain the same type of visa as the investor.
“One of the benefits of the E-2 Visa is that it can be extended for an indefinite number of terms. In other words, as long as your extension is approved, you will be able to stay in the United States working in your business. For your part, The most important benefit of the EB-5 is that it allows the investor to obtain the green card at the time their investment is approved,” they explained in Vivanco & Vivanco.
Visa for extraordinary talents
Among other visas granted by the United States, a category for people with extraordinary talents in science, arts, entertainment, education, business and sports, among others, stands out. Applicants for this visa, called O-1, must be leaders or prominent people in their field and recognized by their peers and their industry.
According to lawyer Echevarría, “there are favorable trends in the awarding of these visas and his firm has successfully processed O-1 visas for musicians, visual artists, tattoo artists, executives, influencers, athletes, TV and movie personalities, among others. “.
“The O-1 visa is a very good option for prominent individuals who want to move to the United States quickly. It admits an initial stay of no more than three years and can be renewed unlimitedly; it is temporary but serves as an excellent platform to later apply for a green card for people with extraordinary abilities and achievements (EB-1, EB-2),” they explained in the specialized study.
To qualify for this talent visa, the main requirement is to demonstrate exceptional virtues that most people do not have. The visa can normally be applied for if at least three of the following criteria are met:
-Obtain some type of award, recognized nationally or internationally, in your area of expertise;
-Being a member of an association that requires its members to have achieved outstanding achievements to join.
-Have a salary significantly higher than other workers in your area.
-Having published professional articles.
-To have participated as a judge in the evaluation of other people’s work.
-Having contributed significantly to their area of expertise. For example, an artistic piece, an academic investigation, a scientific discovery, etc.
-To be or have been a leader of distinguished organizations.
