Comparing the United States EB2 and EB5 Visas

The 5th preference employment based visa (EB5) was created in 1990 as a way for foreign investors to gain United States permanent residency (and eventual citizenship if desired), through an investment in a new or pre-existing American business that sees the creation of at least 10 new full-time jobs for American workers.The EB2 visa was also created in 1990, but its purpose was to provide residency for workers who provide a significant benefit to the United States.  EB2 Visa You may be eligible for the EB2 visa if you hold an advanced degree or the equivalent to such a degree, or if you are a foreign national who qualifies as having an exceptional ability.The government defines these terms as follows:  Advanced Degree The job you apply for must require an advanced degree and you must possess such a degree or its equivalent.  Exceptional Ability Exceptional ability means a degree of expertise significantly above that ordinarily encountered in the sciences, arts, or business.  National Interest Waiver Aliens seeking a national interest waiver are requesting that the Labor Certification be waived because it is in the interest of the United States. Though the jobs that qualify for a national interest waiver are not defined by statute, national interest waivers are usually granted to those who have exceptional ability (see above) and whose employment in the United States would greatly benefit the national interest. Those seeking a national interest waiver may self-petition (they do not need an employer to sponsor them) and may file their labor certification directly with USCIS along with their Form I-140, Petition for Alien Worker.You must meet at least three of the criteria below and demonstrate that it is in the national interest that you work permanently in the United States.  In addition to satisfying these requirements, potential EB2 applicants seeking the National Interest Waiver or to meet the Exceptional Ability standard must also meet at least three of the criteria below.  1)      Official academic record showing that you have a degree, diploma, certificate, or similar award from a college, university, school, or other institution of learning relating to your area of exceptional ability. 2)      Letters documenting at least 10 years of full-time experience in your occupation.  3)       A license to practice your profession or certification for your profession or occupation. 4)      Evidence that you have commanded a salary or other remuneration for services that demonstrates your exceptional ability  5)      Membership in a professional association(s) 6)      Recognition for your achievements and significant contributions to your industry or field by your peers, government entities, professional or business organizations.     EB5 Visa In stark contrast to the EB2 visa, lays the EB5 investor visa.According to the governments web page, to qualify for the EB5 visa program you must:  1)       Invest or be in the process of investing at least $1,000,000. If your investment is in a designated targeted employment area (A Targeted Employment Area is defined by law as a rural area or an area that has experienced high unemployment of at least 150 percent of the national average) the minimum investment requirement is reduced to $500,000. 2)      Benefit the U.S.economy by providing goods or services to U.S.markets.  3)      Create full-time employment for at least 10 U.S.workers. This includes U.S.citizens, Green Card holders (lawful permanent residents) and other individuals lawfully authorized to work in the U.S.(however it does not include you (the immigrant), or your spouse, sons or daughters). 4)      Be involved in the day-to-day management of the new business or directly manage it through formulating business policy for example as a corporate officer or board member.  We see in this comparison that despite the EB2 and EB5 both being employment based visas, they are very different in nature and offer disparate paths to a green card visa.While the EB2 requires significant accomplishment, education and the promise of a direct contribution to the American workforce by the immigrant in question, the EB5 visa relies on an immigrants investment that creates full-time American jobs for that workforce.