P-2,and,EB5,Immigrant,Investor business, insurance P-2 and EB5 Immigrant Investor Visas Compared
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The fifth preference employment based visa (EB5) was createdin 1990 as a way for foreign investors to gain United States permanentresidency (and eventual citizenship if desired), through an investment in a newor pre-existing American business that sees the creation of at least 10 newfull-time jobs for American workers.The P-2 Performer visa allows a foreignperformer to enter the United States if that entrance is part of a reciprocalexchange program between an organization in the United States, and anorganization in the home country of the performer.In this article we will takea closer look at the P-2 Visa and the Eb5 Green Card to see how their paths toa Green Card Visa compare and contrast. P-2Visa As defined by the governments website, the P-2 classification applies toyou if you are coming temporarily to perform as an artist or entertainer,individually or as part of a group, who will perform under a reciprocalexchange program between an organization in the United States and anorganization in another country.Eligibility Criteria - You must be an artistentering the United States through a government recognized reciprocal exchangeprogram.In addition, you must possess skills comparable to those of the UnitedStates artists and entertainers taking part in the program outside the UnitedStates. Supporting Documents As per the governments website, the Form I-129must include the following documents:6) Written consultation by an appropriate labor organization 7) Copy of the formal reciprocal exchangeagreement between the sponsoring U.S.organization(s) and the organization(s) ina foreign country which will receive the United States artist or entertainer 8) Statement from the sponsoringorganization describing the reciprocal exchange of United States artists orentertainers as it relates to the specific petition for which classification issought 9) Evidence that you and theU.S.artist or entertainer subject to the reciprocal exchange agreement areartists with comparable skills and that the terms and conditions of employmentare similar 10) Evidence that anappropriate labor organization in the United States was involved innegotiating, or has concurred with, the reciprocal exchange of U.S.and foreignartists or entertainers.Note: If the events or performances will take place inmultiple areas, an itinerary must be submitted.The itinerary must list thedates and locations of the events. EB5 Immigrant Investor VisaIn starkcontrast to the P-2 visa, lays the EB5 Immigrant Investor Visa.According to thegovernments web page, to qualify for the Eb5 Visa Program you must: 5) Invest or be in the process of investing at least $1,000,000. If yourinvestment is in a designated targeted employment area (A Targeted EmploymentArea is defined by law as a rural area or an area that has experienced highunemployment of at least 150 percent of the national average) then the minimuminvestment requirement is $500,000.6) Benefit the U.S.economy by providing goods or services to U.S.markets.7) Create full-time employment for at least 10U.S.workers. This includes U.S.citizens, Green Card holders (lawful permanentresidents) and other individuals lawfully authorized to work in the U.S.(howeverit does not include you (the immigrant), or your spouse, sons or daughters). 8) Be involved in the day-to-day management ofthe new business or directly manage it through formulating business policy for example as a Limited Partner, corporate officer or board member.We see inthis comparison that despite the fact that the P-2and EB5 immigrant investorvisas both rely on certain performance based requirements being satisfied; thetwo are very different in natureFeature Articles, with only the Eb-5 visaoffering a path to a Green Card Visa
P-2,and,EB5,Immigrant,Investor