"Immigration law affords me the unique and exciting opportunity to bring fellow global citizens together—to enhance the world economy, promote cultural understanding of one another and shape our world for the better." - Chad Ellsworth
Techsauce recently had the pleasure of being in the presence of Chad Ellsworth at the investment immigration summit in Bangkok, who is a Partner at Fragomen, the world's largest immigration service law firm. Chad provided us with key insightful information for startups, entrepreneurs and businesses from South East Asia on how to enter the United States, become a resident and secure your business.
The EB 5 process can be a real challenge for most people as there is a lot of legislation and stiff protocol to navigate through. Investors, entrepreneurs, and high net individuals who are looking for investor immigration solutions worldwide but especially in the United States can rely on an institution like Fragomen to navigate the process.
The economic growth and prosperity that can be generated while being in the United States have to satisfy and meet the requirements of your specific EB 5 and business needs. Working with a reputable lawyer who can conduct research into specific areas of high employment, economic and business affluent areas makes it a more beneficial and smooth running procedure with satisfying outcomes.
The money needed for the investment is $500,000. It needs to be from legal and above board means which will be strictly and intrinsically scrutinized. This will fund and secure your entry into the US along with your family and help set up your commercial enterprise that also needs to validate that your business will create jobs.
The i526 petition is the first half of the EB5. You need to prove that the money you have is legal and above board, the second thing is that you have to show that you can offer and create over 10 jobs for US citizens along with a strict business plan. Once the i526 petition is approved which can take a long time the investor can either apply for the immigration visa or file for the green card while inside the United States.
However, like the majority of people, they are living abroad, it takes around 3 months to make the change from an i526 to an EB5. Once you complete the immigrant visa process which also entails full background checks on your medical and criminal history, you have a short period of time to then enter the United States and fully complete the transition. There is an interview on entering the US but once passed the Green card will be granted. Working with a reputable immigration lawyer, like Fragomen encourages, supports and guides you through it in a quick manner.
The US government has indicated that they will increase investment amounts by 1.5% which will constrict rural development. This could become a deterrent and may seem too high a cost to factor into your investment in the US, however, in the long run, it could prove to be a lucrative and secure move.
Taking immigration into consideration and considering other markets to move into can seem like a daunting task, however, Fragomen really can assist and create a smooth running environment for you to transition your investment and business into the US.
Established in 1951, Fragomen has grown from a respected domestic U.S. immigration law practice to a truly global organization.
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