The EB-5 visa refers to employment based fifth preference visa. United States citizenship and immigration service implemented this program to avoid the rate of unemployment. The program is designed for the foreign investors who are interesting to invest their fund in projects.
There are some certain criteria for EB-5 visa. The applicant must have to invest a minimum amount of $500, 000 in American market to get this visa. The system provides the foreign citizen to get green cards. The visa holder must have to create at least 10 job positions for the US citizen in permanent basis.
In the first quarter of 2016 the number of visa applications for EB-5 reached 6,277. In 2015 the numbers were only 2,941. The drop of approval rate 20 percent this year compared to 56 percent last year.
Many intellectual and spokesman said that the investors have targeted the major cities of America to earn more profit. They don’t want to set up their business in the interior part or the rural areas of America. The government of America should take some necessary actions to improve the employment rate at the interior parts. The government should execute some plans for the proper utilization of EB-5 policy.
A report suggested that the technique implemented for the economic benefits were not accurate. It also raised a question regarding the benefits accrued through the program and the documentation on paper, leaving it susceptible to fraud.
The initiation of this program helps the foreign business person and the entrepreneur to set of their business at America by getting the green card status. The current market situation is best for the investors to invest their fund on American projects. The economical conditions and the labor market conditions of US both are getting the positive response from this system.