The health and economic crisis due to the coronavirus’ (COVID-19) has resulted in high unemployment and job loss in the United States. On April 22, 2020, President Trump announced a 60-day immigration suspension of entry into the United States to protect American jobs during the coronavirus (COVID-19) pandemic. A key exception to the immigration suspension is immigrant investors.
The 60-day green card immigration suspension does not apply to investors:
Individuals applying for a visa to enter the United States pursuant to the EB-5 Immigrant Investor Program
EB-5 immigrant investor visas offer priority processing of a permanent resident status with no work requirement. The EB-5 visa program allows foreign nationals to invest in United States businesses under the following qualifications:
• invest $1.8 million for standard investments and from $500,000 to $1 million for investments in a targeted employment area (TEA)
• create or preserve 10 full-time jobs for qualified United States workers within 2 years
Immigrants are an integral part of the Illinois workforce in a range of occupations. Immigrant entrepreneurs in Illinois generate billions of dollars in business revenue:
• 119,404 immigrant business owners accounted for 21.3% of all self-employed Illinois residents in 2015 and generated more than $2.5 billion in business income.
• In 2015, immigrants accounted for 20.3% of business owners in the Chicago/Naperville/Joliet metropolitan area (which stretches from Wisconsin to Indiana through Illinois) and 6.5% of business owners in the St. Louis metro area (which straddles Illinois and Missouri).
Godoy Law Firm’s business immigration attorneys can help immigrant investors and entrepreneurs move to Illinois. USCIS and the immigration lawyers at Godoy Law Office’s virtual office are open and processing immigration applications during the coronavirus.
Do you have questions about visa for investors and entrepreneurs? Contact Godoy Law Office today at 855-554-6369 to answer your questions about immigration, help you file an immigration application and guide you through every step of the immigration process.