3 Alternatives to EB5 Visa The EB-5 Visa allows international investors, their spouses, and dependent children under 21 to qualify for a U.S. investment green card if they meet the EB 5 requirements. In order to meet the requirements of the EB5 Immigrant Investor Program, the investor must invest at least $800,000 in a new commercial venture and create 10 full-time jobs. There are 3 alternatives to the EB-5 visa, first, the O-1 Visa, second, the L-1 Visa, and third, the E-2 Visa.

The EB-5 Visa has 3 main benefits, first, acquiring conditional residency status, second, residing and working lawfully in any part of the U.S., and third, education and employment opportunities for the applicant’s children. Alternatively, there are risks involved in the EB-5 Visa program. The 3 main risks of an EB5 Visa are, first, higher capital investment; second, proof of the legitimacy of the investment fund; and third, limitations on handling or managing the business under a regional center investment.

1. O-1 Visa

The O-1 Visa is a nonimmigrant visa for individuals who have a national or international reputation for extraordinary achievement in the motion picture or television sector. The O1 Visa is also for individuals with outstanding skills in the arts, education, sciences, athletics, or business.

The petitioner or employer files the O-1 Visa application (Form I-129) together with the documents listed below.

  1. Copy of the written contract between the agency sponsor and the US employer.
  2. Documented consultative viewpoint from specialists in the appropriate field of practice
  3. Proof of the type of activities, the event schedule, and the period of work.

In addition to DS-160, the beneficiary or applicant must provide the following documents for the O1 Visa application.

  1. Evidence of exceptional skills and accomplishments, such as honors, membership in prestigious organizations, or publications organizations.
  2. A valid passport
  3. A 2×2 colored photo on a white background within 6 months of the application.
  4. Letter of interview appointment and Form I-797 (Approval Notice from the USCIS)
  5. Printout of payment for the Machine Readable Visa (MRV) charge

Listed below are the fees associated with an O-1 visa application.

  1. $460 is the cost of Form I-129 (Petition for Nonimmigrant Worker).
  2. $190 is the cost of the DS-160 (Online Application for a Nonimmigrant Visa).
  3. $1,440 is the premium service cost, which is to expedite the processing time of USCIS to 15 calendar days.

The other expenditures associated with the Visa O1 application include expenses for evidential papers, incidental costs, and Visa Attorney fees.

The 3 main benefits of an O1 Visa and their conditions are listed below.

  • Allows extending the O1 visa by one-year increments. The validity of the O-1 Visa will depend on the duration of the employment-related stay in the United States. The maximum duration of validity for a Visa O1 is 3 years.
  • Enables an adaptable path to a green card. The applicant submits an application for permanent residency in the United States, and does not need to demonstrate permanent residency and stable ties to their country of origin.
  • Provides provisions for family and assistants. The applicant may bring them to the United States on an O-2 or O-3 Visa.
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2. L-1 Visa

The L-1 Visa is an intra-company transfer visa for the United States. It lets a U.S. corporation transfer a specialist from one of its worldwide offices to the United States. The L-1 Visa enables companies to set up a U.S. transfer procedure for managers, executives, and essential personnel.

The costs related to an L-1 Visa application are detailed below.

  • $460: Form I-129
  • $500: Fraud prevention and detection
  • $4,500: Public Law 113-114. This will apply only if your employer has more than 50 employees with an H-1B, L-1A, or L-1B status
  • $1,500: ACWIA Training and Education Fee for businesses with 26 or more employees. $750 for firms with 25 or fewer employees
  • $190: DS-160. The fee is per applicant.

There are 4 requirements to obtain an L-1 Visa.

  • Has a qualifying relationship or association between the U.S. firm and the foreign firm.
  • Working currently or will continuously be performing as an employer in the U.S. and at least one other nation, either directly or via a qualifying organization, for the period of the L-1 beneficiary’s stay in the U.S.
  • Worked full-time and continuously for the foreign company for at least one year in the past three years.
  • Intend to enter the U.S. to provide executive or managerial services for a branch of the same employer or one of its qualifying organizations.

The 3 main benefits of the L-1 Visa and their definitions.

  • Does not require a job offer. Can reside in the U.S. and work for your employer, who applied for the L1 visa on your behalf.
  • Does not have wage requirements. The employer is not required to pay you a minimum salary. Your company in the United States must continue to comply with state and federal minimum wage requirements.
  • Does not require a degree. The L1 Visa does not require any degree to qualify.

3. E-2 Visa

The E2 Visa is for investors, business people, and other individuals who wish to operate a business in the United States. The investor must invest a considerable amount of money to build a new business or invest in an existing business in the United States. Only citizens of nations with an E 2 treaty agreement with the U.S. are issued the E-2 Visa.

The E-2 Visa cost depends on whether the application was made within the U.S. or outside the U.S.

The E2 Visa costs for applications made from the country of origin.

  • Form DS-160: $250 per individual
  • A modest fee will be required from the applicant once the E2 Visa is approved. This fee will vary based on the investor’s country of origin.

The E2 Visa cost for applications made from within the United States.

  • $460: Form I-129
  • $370: Form I-539 per dependent

To submit an application for an E2 investor visa, you must: first, show that your business meets all statutory requirements; second, provide evidence that your stay in the United States is only temporary; and third, prepare and submit the requirements along with your E-2 Visa application.

The requirements you need to submit are listed below.

  • Application for Nonimmigrant Visa (DOS Form DS-160)
  • Application for Nonimmigrant Treaty Trader / Investor (DOS Form DS-156E)
  • Copy of your passport with at least one blank page (validity should be six months after the period of your stay in the United States).
  • Curriculum vitae
  • Passport-style colored photo in a light background (no head covering and full face). Wearing a headpiece is accepted if you are a member of a religious order.
  • Business Plan that details the potential investment scheme
  • Evidence of investment capital ownership and control (bank records, financial statements, savings, promissory notes, or loans)
  • Evidence/documentation demonstrating the establishment of the firm in the United States (articles of incorporation, partnership agreement, contracts, organization and staffing charts, shares, titles, leases or licenses, receipts)
  • Evidence of the investor’s nationality (passports, articles of incorporation of the parent firm, or stock exchange listings)
  • Evidence of U.S. investment (contracts, titles, bank statements, loans, receipts)
  • Evidence that the firm will make a significant contribution to the U.S. economy ( payroll records, IRS Form 941, evidence of other personal assets and income, personal tax returns
  • Evidence of the company’s legitimacy and functionality (annual reports, catalogs, sales literature, news articles, and other applicable proof)
  • Evidence of actuality (financial statements, audits, U.S. corporate or business tax returns)
  • Evidence that you were hired for a supervisory or executive position, or that you have exceptional skills needed in the operation of a dynamic firm.
  • Evidence of remittance to the United States (exchange permits or receipts, bank drafts, transfers)

What is EB-5 Visa?

The EB-5 Visa allows overseas investors, their spouses, and unmarried children under the age of 21 to earn a U.S. investment green card if they meet the EB-5 criteria. The investor must invest at least $800,000 (minimum) in a new commercial enterprise and generate 10 full-time jobs for U.S. citizens to meet the requirements of the EB5 Immigrant Investor Program.

What is the importance of an EB-5 Visa?

The EB-5 Visa is important because of the benefits it offers to the investor and to the United States economy. For investors, the EB5 Visa is the lawful path to come to the U.S. that eventually leads to getting a green card or permanent residency status. It gives the investor the opportunity to live and work freely anywhere in the U.S. It offers education and job opportunities to the investor’s children.

For the United States and its citizens, the EB 5 Visa adds wealth to the U.S. economy through foreign investors’ investment. These investors send their children to U.S. schools, shop in stores, purchase homes and houses, and engage in numerous other activities once they begin living in the country. The Visa EB5 offers job opportunities to U.S. citizens through the job creation requirement. It helps improve underserved areas as the investment is to be made in a targeted employment region.

How much does an EB-5 cost?

The EB-5 cost consists of the investment amount of $1.05 million or $800,00 (invested in a targeted employment area); administration costs, which are the filing fee for the I-526 petition $3,675, the application fee for Form I-485 $1,140, the fee for Form I-829 $3,750, and the Immigrant Attorney’s fee.

Applying for the EB5 Visa leads to obtaining a green card or permanent residency status, which makes meeting the EB5 visa cost an essential element in the application.

What are the differences between the EB-5 Visa and the O-1 Visa?

EB5 Visa vs. O1 Visa

Visa Type: The EB 5 Visa is an immigrant type of visa compared to an O 1 Visa, which is a nonimmigrant type of visa.

Eligibility: The EB-5 Visa is for foreign investors who intend to make an investment in the U.S. The O-1 Visa is for individuals who have been recognized nationally or internationally for outstanding achievements in the fields of science, athletics, arts, education, or business, or who have established a record of extraordinary achievement in the television or motion picture industry.

Sponsorship: The EB5 Visa does not require sponsorship while the O1 Visa requires employer sponsorship or must have a job or an event in the US.

What are the differences between the EB-5 Visa and the L-1 Visa?

The EB5 Visa and L1 Visa have 3 main differences, listed below.

EB 5 Visa vs. L 1 Visa

Visa Type: The EB-5 Visa is an immigrant visa while the L-1 Visa is a nonimmigrant visa.

Investment Requirement: The EB5 Visa requires investors to invest a minimum capital investment of $800,000 to create a new business. The L1 Visa does not have an investment requirement.

Duration of Stay: The EB-5 Visa leads to obtaining a green card, which allows you to stay permanently in the U.S. by applying for citizenship. The L-1 Visa does not lead to permanent residency but is renewable for up to 7 years maximum.

What are the differences between the EB-5 Visa and the E-2 Visa?

There are 3 main differences between the EB5 Visa and the E2 Visa, which are listed below.

EB 5 Visa vs. E 2 Visa

Nationality Prerequisite. The EB-5 investment visa is available to citizens of any country. The E-2 Visa requires the candidate to be a national of a country that has a trade and navigation agreement with the United States.

Investment Requirement. The EB5 Visa requires an investment of at least $800,000 in a new business established in a targeted employment area. The E2 Visa requires the candidate to have a substantial capital sum of $150,000 to create a new business or be in the course of investing in a lawful U.S. firm.

Job Creation. The EB 5 Visa requires that the new business generate 10 full-time jobs for qualified U.S. workers. The E 2 Visa does not require job creation by the investor.

Can an Immigration Lawyer help you apply for EB-5 Visa Alternatives?

Yes. Visa attorneys can clarify the situation, guarantee that you apply for the correct visa, and ensure that your application is complete and accurate. Immigration Attorneys assist with correcting any errors made throughout the application process. An Immigration Lawyer (Attorney) advises on the best course of action moving forward. The visa application process can be simplified by working with an immigration lawyer and can increase its likelihood of success.