EB-5 Visa Program in Vermont

Leigh Cole — Mon, 05 Oct 2009 13:57:00 +0000

Everyone 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.

>EB-5 Visa Program in Vermont

EB-5 Visa Program in Vermont