One of the most appealing nations for immigrants is the US, and getting a green card is a crucial step toward establishing permanent status there. However, the procedure of obtaining a green card can be pricey and, in some circumstances, requires substantial expenses.
You must take part in the EB-5 visa program in order to qualify for a green card through investment. For this program, the applicant must spend a minimum of $900,000 in a brand-new business that generates at least ten full-time jobs for Americans. The chosen targeted employment area (TEA), which must be rural or have a high unemployment rate, is where this investment must be done.
There are additional expenses incurred in order to receive a green card in addition to the investment. These expenses consist of filing fees, legal fees, and other costs. The initial application for the EB-5 visa, the I-526 petition, has a $3,675 filing cost. The I-829 petition, which is the request to lift the restrictions on the green card, requires a filing cost of $3,750.
The price of obtaining a green card through investment may differ depending on the particulars of each case, it is crucial to mention. For instance, the minimum investment value rises from $900,000 to $1.8 million if it is made in a non-TEA area.
It’s crucial to think about the taxes that must be paid in the US in addition to the costs involved in getting a green card. Federal, state, and municipal taxes must be paid by businesses operating in the US, and the rates depend on the region and the type of operation. State tax rates range from 0% to 12%, and the federal corporate tax rate is 21%.
In conclusion, getting a green card through investment can be expensive, but it can also be an investment in your future that is worthy. Before making any investments, it is crucial to carefully analyze the expenses and regulations related to the EB-5 visa program. To further minimize potential legal problems, it is imperative to abide by all tax rules and regulations.
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