The equation of South Korea and America is quite interesting and prosperous. The Koreans markets are growing fast and also understanding the benefits of the investor programs. Many Koreans are citizens of the USA but their loved one is in Korea, this situation boots participation of Koreans in EB-5 visa program.
There are many other visas available such as E-1 visas and E-2 visas were created for those who trade or invest in a business or L-1 visa for the intra-companies transferees. However, participation in any of above visas needs dealing with certain legislative requirements as well does have a long backlog period.
The Koreans can move their whole family to the USA as the EB-5 scheme come up with the clause that the investor can move in along with his spouse and dependent children below the age of 21 years. The scheme needs the investment based on their geographical areas like in the case of targeted employment area the investment amount reduced to the USD$500,000 but in the other areas amount is USD$ 1 million. The other condition of the scheme is a creation of 10 full-time jobs for the USA workers.
The Major Benefit
By being part of the scheme the investor and his family get the freedom to move and live anywhere in the USA. Also, it also provides better professional and educational opportunities.
How It Works?
The EB-5 visa procedure starts by filing the petition of I-526 along with the various details as described in the forms and constitution. On approval of the I-526 form, one gets the conditional residency on filling of forms I-485 or DS-230. Also, the investor and his family need to clear the interview for the same. On successful submission of i-829 investor and his family get the green card of USA.
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