The US employment-based fifth preference category (EB5) immigrant visa, received on investing $1 million in a new business, has been extended late last year.
The amount of investment for EB5, if made in a backward or targeted employment area, is half-a-million dollars and the investor can invest the funds directly or in a recognised regional centre for five years after which they are granted immigrant visa.
The EB5 investors, along with their spouse and unmarried children below the age of 21 years, are after entering USA granted conditional green card valid for two years. The conditional green card becomes permanent after two years on showing that the investment is not withdrawn and 10 jobs are created in the US.
In December 2015, the US House and Senate recommended that the EB5 programme be extended till September 30, 2016, which means that none of the rules of the programme including minimum investment amounts and definition of targeted employment areas, will change till the stipulated time.
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