Comparing the EB-5 and L-1 Visas
There are two main visas for foreign nations to consider when immigrating to the United States of America. The EB-5 business plan and L-1 visas have become vastly popular but there are a few differences between the two visas. However for those who wish to move to the US, it’s important to compare and understand what each of the visas can offer.
What Is The L-1 Visas?
US employers have the ability to opt for the L-1 visa which ensures an employer within the United States can transfer a manager or executive of their company to the US temporarily. If they already have a role within the company, in another country, they can move and work in the US. In order to obtain the visa, for I-129 must be filled out by the US employer. If the business in the US is a new start up then the employee can resident in the US for one year but for existing businesses it can be up to three years. The visa also has the ability to be renewed within two years.
What Is The EB-5 Visa?
Foreign investors can opt for the EB-5 immigrant investors program. This enables many new investors the ability to immigrate to the United States permanently but there are some strict guidelines that must be followed. Investors have to be able to invest one million dollars. That is a lot of money but that’s the target. However, they can also invest half a million within an employment area if it helps to create ten or more full-time jobs in the upcoming years. Investors must use the I-526 form and if they’re able to show they’ve helped to create (within 2 years) ten full-time jobs, it’s possible to become a permanent resident, see how : http://www.miamiimmigrationbonds.com/how-to-weigh-your-green-card-investment-properly/.
What’s The Difference?
To be honest, the L-1 visas are not actually immigrant visas but rather enabling a person into the US on a temporary basis for a maximum of seven years. However, it has the ability to become a permanent residence if certain conditions are met. In a sense, it can lead to someone becoming a US resident indirectly which is a bit strange but employers can help their employee to obtain their green cards. The EB-5 can lead a lot of investors to becoming a permanent resident of the US through their investments and contributions to the work force also.
Who Is Eligible?
EB-5 applicants must be able to at least invest half a million dollars within a valid business within the United States of America. They may also have to provide a business plan too. Eligibility isn’t too tough here surprisingly but of course there are not many who can offer half a million or more investment in the US economy. For the L-1 there must be an office within the US as well as one already established outside the US. However the employee must be within a managerial role. He or she must have also worked for the company outside the US for at least one year.
Choose the Right Visa
Choosing a visa is not as simple as you might think as the EB-5 and L-1 are very different. For most, they think one visa is more suited to them than others so it’s very important to get to grips with the ins and outs out them both. This will be a simpler way to understand which visa is most suitable for you.