Attention Filipinos in Canada, the Federal and Provincial immigration programs of Canada are constantly evolving. Let Mercan assist and guide you which among these immigration programs will best meet your needs
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EB-5, Business Investors
An EB-5 visa is based upon an investor’s intention to begin a commercial enterprise which will be of benefit to the US economy and will create job opportunities for at least 10 people in the permanent resident or US citizen categories. Visas of this kind are based on investment, and the minimum amount required is USD $1,000,000, although in cases where an investment is in a "targeted employment area", this figure may be reduced by half.
The EB-5 Visa for Immigrant Investors is a permanent resident visa available to investors, their spouse and unmarried children. To apply as an alien entrepreneur, applicant must invest in regional centers with high unemployment rates. A regional center is defined by any economic unit, private or public, engaged in the promotion of economic growth through increase of sales, improved regional productivity and job creation.
The required investment amount is $1,000,000.00 creating at least 35 work hours in a week for 10 US workers; $500,000 if the business is located in rural areas with very high unemployment rate of at least 150% of the national average. Family members of the investor and non-immigrants cannot be included in this provision. Employees must not be independent contractors and must provide work for the firm receiving wages directly from the investor. The 10 full-time positions required do not have to be created right away and may be projected employment at first, as long as there are realistic and feasible comprehensive business plans.
Law requires that the investor must venture in a “new” commercial enterprise which must be established after November 29, 1990.
Investing in a business “existing” before November 29, 1990 may only be acceptable if:
- Investor will substantially reorganize or transform the nature the existing business.
- Investor will expand the existing business resulting in an increase of 40% of the net worth or number of employees of the company.
The capital invested in the commercial enterprise must be proven to be legally acquired through documentation. The following are required to establish proof that the capital was legitimately obtained by the applicant:
- Foreign Business Registration Records
- Personal and Business Tax Returns
- Documents identifying the source of money
- Certified copies of pending civil of criminal proceedings involving money judgment against the investor within the past 15 years.
Migrating to the US through this investor program is intended for permanent immigration service leading to Citizenship in the USA. In view of this, as with all avenues to Permanent Resident Cards, stipulation is made for spouse and dependent immigration. Successful investor applicants may include their spouse, partner and dependent children on their application to migrate to the US.
To seek status as an alien entrepreneur, the applicant must file Form I-526, Immigrant Petition by Alien Entrepreneur, accompanied with documentation to show that the investment meets all necessary requirements. Once the Form I-526 is approved, immigrant investors may obtain status as a conditional resident by filing Form I-485, Application to Register Permanent Residence or Adjust Status, if residing within the United States or initiating Consular Processing if residing outside of the United States. In order to become a lawful permanent resident, eligible investors must file a Form I-829, Petition by Entrepreneur to Remove Conditions. Form I-829 must be filed within 90 days before the second anniversary of an Alien Investor’s admission to the United States as a conditional resident.
USA EB-5 Project Offerings