>EB-5 Visa Program in Vermonthttp://blog.dinse.com/eb-5-visa-program-in-vermont/2009-10-05T21:45:48ZSquarespacehttp://blog.dinse.com/eb-5-visa-program-in-vermont/2009/10/5/eb-5-visa-program-in-vermont.htmlLeigh Cole2009-10-05T13:57:00Z2009-10-05T13:57:00ZEveryone is focused on economic development and Vermont is no exception.  International folks looking to contribute to economic growth in Vermont have an interesting option in the EB-5 visa program (or E-5). As immigration lawyers, we help international professionals, educators and entrepreneurs contribute to the United States economy.  Generally the goal of an immigration plan for a client is to allow them to start work here as soon as possible in temporary immigration status (like H-1B for professionals or L-1 for multinational corporate transfers) and then become a permanent resident with a green card over the course of a few years.  This path requires a job offer from a U.S. employer.  The EB-5 visa program under federal law allows internationals to invest $500,000 in a business initiative in Vermont that will lead to economic development, and in return become a permanent resident of the United States with a green card.   Permanent residents can live in the United States indefinitely and are authorized to work for any U.S. employer, part-time or full-time, if they choose to work.  The EB-5 program generally requires a minimum investment of $1 million but certain areas can be designated as economic development zones where the minimum EB-5 investment is only $500,000.  The State of Vermont is designated for EB-5 investments of $500,000.   So for example, at Jay Peak Resort there is an EB-5 program that has been approved by the U.S. immigration service for EB-5 investments, and the investment involves purchasing a new condominium at Jay Peak resort for at least $500,000.  The EB-5 investor can become a permanent resident of the United States and enjoy their new condominium at a lovely Vermont resort.  Other such programs are in development in Vermont but the Jay Peak program is the established precedent here.  For EB-5 approval, the development project had to demonstrate that it would create permanent jobs in Vermont.  It's a win-win for everyone involved, and for the Vermont economy.  There are EB-5 projects around the nation, but Vermont is appealing for so many reasons!  Immigration lawyers are involved in EB-5 cases in several ways, representing the project developer in crafting the development portion of the EB-5 documentation to establish that the project will create permanent jobs, or representing the investor who is considering an EB-5 investment and applying for permanent residency based on the EB-5 investment.  It's a great example of how immigration supports the U.S. economy.

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