MCFI woos Nigerian investors to U.S. migration programme
The Maryland Centre for Foreign Investment (MCFI) has wooed local investors to opportunities availed by the United States’ (U.S.) Employment-based (EB-5) immigrant investor visa programme for international investors.
The EB-5 programme aims to further grow the U.S. economy through foreign investments.
The MCFI, at a seminar for Nigerian investors recently in Lagos, organised by Brandleys International Limited, enjoined investors to make a minimum investment of $500,000 (N180 million) through EB-5 regional centre and be eligible for permanent residency in the U.S.
MCFI President and Co-founder, Lawrence Chang, said foreign investors that satisfy the initial requirements above can apply to participate in the EB-5 visa programme.
The investor must as well demonstrate that the investment capital has come from a legal and traceable source. Background check will assure that the investor and, or family has not broken any U.S. Immigration laws, or has a past criminal record.
“Upon satisfaction of USCIS requirements and the successful completion of the selected EB-5 project, the investor should anticipate his/her permanent Green Card and ultimately the repayment of their $500,000 EB-5 investment,” Chang said.
EB-5, created in 1990, enables foreign investors to obtain a U.S. visa by investing in a business that will benefit the U.S. economy and create jobs.
MCFI assists foreign investors to take advantage of the EB-5 investment immigration programme, which helps them direct their assets towards sound investments and earn a permanent green card in the process.
Immigration Attorney of Davis & Associates, Mark Davies, explained that EB-5 visa programme was created by the Congress in 1990 under section 203(b)(5) of the Immigration and Nationality Act (INA).
At least, 10,000 EB-5 visas per year are allocated to qualified individuals seeking Lawful Permanent Resident (LPR) status on the basis of their capital investment and creation of at least 10 full-time jobs for qualified workers in the United States.
“EB-5 investors may be eligible for EB-5 immigrant visas, if they have invested or are actively in the process of investing the standard capital investment requirement of $1,000,000 or $500,000 in Targeted Employment Areas (TEA) and/or Rural Areas (RA).
“EB-5 investors may invest in a new commercial enterprise or choose to reinvigorate a troubled business. Application process of LPR through the EB-5 programme is a three-step self-petitioning process. Investors must obtain approval of their Form-526 (Petition for an Alien Entrepreneur). Investors must then either file an I-485 Adjustment of Status, if they are in the United States, or apply for immigrant visa at a United States embassy or consulate outside of the United States.
“Following approval, investors and their derivative family members are granted two-year Conditional Green Cards upon entry into the United States. Investors must file a Form I-829 Petition by an Entrepreneur to Remove Conditions 90 days prior to the two-year anniversary of the ‘Conditional’ Green Card. If this petition is approved by USCIS, a Permanent Green Card will be issued,” he said.