P-3,and,EB5,Immigrant,Investor law P-3 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-3 nonimmigrant Visa allows aculturally unique performer or artist, or performance or artist teacher, toenter United States.In this article we will take a closer look at the P-3 Visaand the EB5 Immigrant Investor visas to see how their paths to a Green CardVisa compare and contrast. P-3 Visa The P-3 visa is described by the governments website as a classification that appliesto you if you are coming temporarily to perform, teach or coach as artists orentertainers, individually or as part of a group, under a program that isculturally unique.Eligibility Criteria As per the governments website, for aP-3 visa, you must be coming to the United States either individually or as agroup for the purpose of developing, interpreting, representing, coaching, orteaching a unique or traditional ethnic, folk, cultural, musical, theatrical,or artistic performance or presentation.In addition, you must be coming to theUnited States to participate in a cultural event or events which will furtherthe understanding or development of your art form.The program may be of acommercial or noncommercial nature.EB5Immigrant Investor Visa In stark contrast to the P-3 visa, lays the EB5Immigrant Investor Visa.According to the governments web page, to qualify forthe Eb5 Visa Program you must: 1) Invest or be in the process of investingat least $1,000,000. If your investment is in a designated targeted employmentarea (A Targeted Employment Area is defined by law as a rural area or an areathat has experienced high unemployment of at least 150 percent of the nationalaverage) then the minimum investment requirement is $500,000. 2) Benefit the U.S.economy by providing goodsor services to U.S.markets. 3) Createfull-time employment for at least 10 U.S.workers. This includes U.S.citizens,Green Card holders (lawful permanent residents) and other individuals lawfullyauthorized to work in the U.S.(however it does not include you (the immigrant),or your spouse, sons or daughters). 4) Be involved in the day-to-day managementof the new business or directly manage it through formulating business policy for example as a Limited Partner, corporate officer or board member.We see in this comparison that despite thefact that the P-3 and EB5 immigrant investor visas both rely on certain jobbased requirements being satisfied; the two are very different in nature withonly the Eb-5 offering a path to a green card visa.
P-3,and,EB5,Immigrant,Investor