The law requires that the foreign applicant have invested in, or be in the process of, investing the necessary capital into an approved EB-5 project. For the most accurate and current information refer directly to the USCIS website. Below are a list of requirements for an EB-5 Visa.
LIST OF
REQUIREMENTS
INITIAL DEPOSIT
A prospective investor is required to give an application fee to reserve a position. The deposit is fully refundable within 45 days, which is the time frame that allows for due diligence. All documentation about the regional center, projects, and a business plan will be provided to the investor. The investor will then take time to review the regional center and projects and assimilate the required information for the application process. Additionally an Investor Questionnaire will be provided and needs to be completed in its entirety for submission and review to the USCIS. If the investor chooses to terminate the agreement within the 45 day review period, then the initial deposit is FULLY refundable.
COMPLETE THE INVESTMENT
To complete your EB-5 investment application, the remaining deposit must be paid to Florida Gateway Regional Center. The remaining balance of the required investment, plus the additional and separate Administration Fee* is to be paid within 60 days thereafter. At this time, the funds are then invested into the investment project to stimulate the local economy as planned and the jobs will be created.
SOURCE OF CAPITAL
When the investment is made into the respective FGRC project the USCIS will then be notified. The current guidelines indicate a required investment for a TEA at USD$500,000. Prospective investors are eligible to invest the required amount alone into one of the FGRC approved projects.
TYPES OF CAPITAL
Investment in the EB-5 Visa program can be made in the form of cash, cash equivalents, equipment, inventory or other tangible property. Capital doesnot include loans made by the investor to the venture; however the investor may borrow the investment money if it is secured by assets owned by the investor, provided the investor is personally liable for repayment of the loan. Also, the investor may receive a gift of funds, if all applicable taxes required by law have been paid. Florida Gateway Regional Center will require the type of capital to be outlined at the initial deposit phase.
AMOUNT OF CAPITAL
The basic EB-5 Visa investment amount is USD$1,000,000. However the required investment is USD$500,000 for an established business in a Targeted Employment Area (TEA) which is defined as an area with an unemployment rate of 150% or more above the U.S. national average or in a rural area (defined as being within the boundary of a city or town with a population of 20,000 or less). In the Florida Gateway Regional Center Geographic Area, 11 of the 24 counties including the target county (Hamilton) are TEA eligible and therefore meet the requirements for the USD$500,000 investment.
AT RISK
The USCIS requires validation that all capital investments are classified as "at risk" with no guarantees being made by the project to the investor. This is to confirm that the capital will actually be used for the purpose of creating jobs and profit-generating activity. Proof of actual business activity is also required and the use of capital investment for expenses or reserve accounts unrelated to job creation does not constitute "business activity." Florida Gateway Regional Center projects are considered for profit and meet the qualifications of being an “at risk” investment.
