Applying for the EB 5 investor visa can be a challenging process. Here are the 4 common pitfalls you should avoid to get your immigration application accepted for the US.
The EB 5 visa program is a popular way to migrate to the US. Every year, the US government issues almost 10,000 EB 5 visas to investors all over the world. The investment amount is $500K Targeted Employment Area (TEA) and $1 million in Non-TEA.
However, the investment amount in the EB 5 investment visa is set to increase from November 2019. The investment in TEA will increase to $900K while in Non-TEA will increase to $1.8 million. Investors looking to take advantage of the program still have some time to apply at the lower amount.
But don’t make the common investor immigration mistakes in a hurry. You should avoid certain pitfalls to keep your application away from getting rejected. The process is deliberate, but with careful analysis, your application can be accepted hassle-free.
4 Common EB Visa Program pitfalls to avoid
By avoiding these pitfalls, the EB 5 investor visa application is sure to be accepted. Here are the 4 common pitfalls to avoid while applying for the application -
1. Improper Funding Documentation
Without legal and credible proof of funding, the application will not be effectively processed. A lawful source of funds is required to be shown. The visa authorities carefully scrutinize the application. It is a non-negotiable document that must show that the investment made is coming from legal funds.
2. No Proper Business Plan
This is one of the major undertakings while applying for the visa application. Investors are required to submit an appropriate business plan before determining their investment. There should be a comprehensive structure of the business plan, information on marketing, the required licenses, and must show that the investment is going to create at least 10 new jobs.
3. No Due Diligence
Before applying for the EB 5 investor visa, investors must carefully analyze the project they are investing into. Even though it will get them a US visa, they should check for the feasibility of the project and the returns from it. Once this is done, investors must assess their financial condition and see that they satisfy all the conditions. If they fail to meet the financial needs to the required amount of time, they are at risk of getting their residency revoked.
4. Applying without Consulting
Sometimes, investors would want to apply directly to the EB 5 visa program to save these costs. This is a pitfall that you should avoid at all costs. It may be a small cost when compared to the difficulties in getting the visa. Even a small typo in the application form can lead to rejection of the application.
Avoid your EB 5 Investor Visa Application from getting rejected
If you’re looking to obtain a visa for the US through investment, Sunset Visa can help. We are a leading immigration investment company enabling investors to get an EB 5 investor visa and move to the US with their families. Contact us today.
