Immigration Lawyer Darren Silver compares the Popular EB-5 Investment Immigration option to the newly Proposed EB-6 Immigration Path
March 24, 2010 (PRLEAP.COM) Business NewsLegislation supporting immigrants with the wherewithal to start companies in the U.S. has been introduced by Senators John Kerry and Richard Lugar with the hopes that it would help create badly needed U.S. jobs. Attorney Darren Silver, of the Prestigious Business and Investment based Immigration Law Firm Darren Silver & Associates is encouraged by the newly introduced option.
The Newly introduced, EB-6 or also known as the "Visa Startup Act" would grant a two-year visa to a foreign entrepreneur who can prove a qualified U.S. investor or a U.S. venture capital firm is willing to sink at least $100,000 into the startup. Overall, the business needs at least $250,000 in backing.
Mr. Silver believes the new EB-6 will fill in a much need gap for foreign national investors that the EB-5 program does not offer. He further explains that the EB-6 option is extremely specialized and will not be an available option for the majority of investors.
As a brief background, the EB-5 Visa Program is divided into two distinct options, a Direct, hands-on option and a more Passive, Retirement options. The Passive option of the current EB-5 immigrant Visa allows for a Foreign National to obtain Permanent Residency status via an investment into a USCIS Designated "Regional Center". A Regional Center is a Private business that has proved to the U.S Government that it has certain business practices and strategies in place including that of stringent U.S employment creation requirements. The Foreign Investor will infuse a sum of generally $500,000 into one of these Regional centers. The Business then benefits by the large infusion of ready capital, the Investor benefits by having his/her U.S Status expeditiously approved and finally the U.S Economy benefits in that the Regional Center will create at least 10 new jobs from each Investor. The Investor will generally receive his or her investment back in a period of approximately 5 years. The investor has very little duties with the Regional center during this time.
The "Direct" EB-5 option requires that the Investor purchase an existing or create a new Business enterprises in the U.S. The Investor will also need to infuse $500,000 or $1million, depending on location of the business. The Investor must manage this business and as with the Regional Center will be required to create 10 new jobs.
The newly introduced EB-6 visa is an offshoot of the Direct EB-5 path. Under the EB-6 option, an investor would be required to start up a new business, will have options to raise capital from venture capitalists. (the EB-5 visa requires the investment to be traced directly to the investor). The entrepreneur would be required to create at least 5 new jobs or create at least $1million in revenue to be eligible for a Permanent Green Card.
When applying for an EB-5 Visa or to a Regional center it is important to utilize an immigration attorney that has extensive experience. Darren Silver, a prominent attorney that has been practicing immigration law for over 15 years, has crucial relationships and experience all EB-5 options and is familiar with the top Regional Centers across the country. His law firm Darren Silver and Associates is one of the preeminent immigration law firms in the country and is an easy choice when applying for the EB-5 Visa. For more information on Eb-5 Visas and Regional Centers visit his website DarrenSilver.com