The Complete Guide to the EB6 Visa
Are you looking for ways to immigrate to the U.S. through employment-based visas? Do you already own (or partially own) a start-up business in the U.S.? You might be eligible for a specific type of visa.
The EB6 visa is an employment-based visa program that gives foreigners with at least a partial ownership in a new business, the opportunity to stay in the U.S. on a parole basis. Here you can find some more details about how it works and how to apply.
What is an EB6 Visa?
The EB6 visa is actually not a visa at all. It’s merely called so since it allows its holder the privilege to stay and work in the U.S. on a parole basis. Unlike the EB5 visa, the EB6 visa does not allow a direct path to a Green Card. International entrepreneurs only get the opportunity to become a nonimmigrant through this employment-based parole rule if you make an investment in the U.S. economy.
The program is formally called a Parole Program for International Entrepreneurs and is run by the USCIS (U.S. Citizenship and Immigration Services). It is initially valid for 30 months and can be extended for up to 5 years. The immediate family members of the visa holder may also be eligible for a family-related visa. The EB6 visa allows automatic work authorization for the principal applicant, but the spouses and children of EB6 visa holders still need to apply for an Employment Authorization Document (EAD).
Who is Eligible for an EB6 Visa?
The EB6 visa is part of a larger employment-based category. Therefore, it has some business-related as well as personal eligibility criteria involved. We have separated the eligibility requirements into three different categories. The visa beneficiary, the business in question, and the capital invested must meet the following applicable requirements.
Ownership Requirements
The purpose of this category of requirements is to determine whether the visa applicant owns a sufficient portion of the business. The visa applicant must adhere to the following requirements:
The entrepreneur must play an active role in the business. They must form part of the central leadership of the business that supplies direction, drives growth, and leads operations.
The applicant must own a minimum of 10% in the U.S. business in question at the date of filing the application.
The entrepreneur may only work for the business listed in the visa application. If for some reason their visa status changes or they accept an immigrant visa based position at another business, they need to exit and re-enter the U.S. on the new status.
Business Requirements
The business listed in the visa application has to comply with the following requirements:
The U.S. based business must have been created within the past 5 years preceding the initial visa application date.
The U.S. business must have been doing business since the date it was formed.
The business must prove it will benefit the U.S. economy by demonstrating the possibility for rapid growth and job creation. It must also maintain the applicant and their family with a household income greater than 400% of the federal poverty line for their household.
A business may only have three entrepreneurs working on parole status at a time.
Investment and Financial Requirements
The investment made into the business needs to meet certain criteria too. There are two sources of income which are accepted, as well as a minimum amount required:
The business received a minimum qualifying investment of $250,000 from one or more established U.S. investors within the 18 months prior to the filing. The investment may come from venture capital firms, angel investors, or start-up accelerators that has become known for investing in successful start-ups, or
During the same 18-month period before the application date, a qualifying business could at least have received $100,000 through one or more qualified government awards or grants. These grants may come from either Federal, State, or local government entities.
The investment made into the company may come through either one of the above-mentioned investments.
Documents Required for an EB6 Visa
An EB5 visa application requires a Form I-526. The principal applicant filing for an EB6 visa needs to file a Form I-941. It’s also called an Application for Entrepreneur Parole. The form requires evidence for a successful filing. You can follow the instructions found on the USCIS website to help guide you through the process. The required evidence is as follows.
Evidence required in the initial entrepreneur parole request:
A detailed description of your central and active role in the start-up entity along with supporting evidence.
Evidence of your ownership of the company.
Evidence that the company is indeed a start-up.
Evidence that the business received a qualified investment according to the criteria listed above
Proof of your identity.
Evidence required in the request of re-parole:
Evidence that proves you continue to meet the definition of an entrepreneur.
Evidence that proves the business still remains a start-up.
Evidence of investments made into the business of at least $500,000 according to the investment criteria.
Proof that the business created at least 5 new job opportunities.
Evidence that the business reached at least $500,000 of annual revenue and grew revenue with 20% per year during the initial parole period.
Compelling evidence that shows the business will create more jobs and hold more potential for rapid growth.
How to Apply for an EB6 Visa
As with most employment-based visas, you may need to ask an immigration attorney to file your EB6 visa application on your behalf. Get all your required documentation in order and get your Form I-941 filed. Use the instructions supplied on the USCIS website and send your application to the correct mailing address. Remember to sign your documents since any unsigned applications will be rejected.
How Much Does an EB6 Visa Cost?
The EB6 visa filing fee costs $1,200. You are also required to undergo a biometrics appointment which costs $85. Your filing fees may increase if you add other types of requests and applications to your immigration attempts, though.
EB6 Visa Processing Time?
The EB6 visa is so new that it’s hard to judge how long the processing should take. If you go with the processing time necessary for an EB5 visa you can expect to wait up to 30 months for your visa. It is also possible that it might take longer.
Can an EB6 Visa Holder transition to a Green Card?
The EB6 visa is only a nonimmigrant visa. In actual fact, it’s not even a visa. It does not make a path towards permanent residency. You’ll have to find an alternative way to get a Green Card. You might want to consider an EB5 visa or perhaps an H1B visa. Just note, that you’ll have to exit and re-enter the U.S. if your current EB6 visa status changes.
The EB6 visa is an employment-based visa program that gives foreigners with at least a partial ownership in a new business, the opportunity to stay in the U.S. on a parole basis. Here you can find some more details about how it works and how to apply.
What is an EB6 Visa?
The EB6 visa is actually not a visa at all. It’s merely called so since it allows its holder the privilege to stay and work in the U.S. on a parole basis. Unlike the EB5 visa, the EB6 visa does not allow a direct path to a Green Card. International entrepreneurs only get the opportunity to become a nonimmigrant through this employment-based parole rule if you make an investment in the U.S. economy.
The program is formally called a Parole Program for International Entrepreneurs and is run by the USCIS (U.S. Citizenship and Immigration Services). It is initially valid for 30 months and can be extended for up to 5 years. The immediate family members of the visa holder may also be eligible for a family-related visa. The EB6 visa allows automatic work authorization for the principal applicant, but the spouses and children of EB6 visa holders still need to apply for an Employment Authorization Document (EAD).
Who is Eligible for an EB6 Visa?
The EB6 visa is part of a larger employment-based category. Therefore, it has some business-related as well as personal eligibility criteria involved. We have separated the eligibility requirements into three different categories. The visa beneficiary, the business in question, and the capital invested must meet the following applicable requirements.
Ownership Requirements
The purpose of this category of requirements is to determine whether the visa applicant owns a sufficient portion of the business. The visa applicant must adhere to the following requirements:
The entrepreneur must play an active role in the business. They must form part of the central leadership of the business that supplies direction, drives growth, and leads operations.
The applicant must own a minimum of 10% in the U.S. business in question at the date of filing the application.
The entrepreneur may only work for the business listed in the visa application. If for some reason their visa status changes or they accept an immigrant visa based position at another business, they need to exit and re-enter the U.S. on the new status.
Business Requirements
The business listed in the visa application has to comply with the following requirements:
The U.S. based business must have been created within the past 5 years preceding the initial visa application date.
The U.S. business must have been doing business since the date it was formed.
The business must prove it will benefit the U.S. economy by demonstrating the possibility for rapid growth and job creation. It must also maintain the applicant and their family with a household income greater than 400% of the federal poverty line for their household.
A business may only have three entrepreneurs working on parole status at a time.
Investment and Financial Requirements
The investment made into the business needs to meet certain criteria too. There are two sources of income which are accepted, as well as a minimum amount required:
The business received a minimum qualifying investment of $250,000 from one or more established U.S. investors within the 18 months prior to the filing. The investment may come from venture capital firms, angel investors, or start-up accelerators that has become known for investing in successful start-ups, or
During the same 18-month period before the application date, a qualifying business could at least have received $100,000 through one or more qualified government awards or grants. These grants may come from either Federal, State, or local government entities.
The investment made into the company may come through either one of the above-mentioned investments.
Documents Required for an EB6 Visa
An EB5 visa application requires a Form I-526. The principal applicant filing for an EB6 visa needs to file a Form I-941. It’s also called an Application for Entrepreneur Parole. The form requires evidence for a successful filing. You can follow the instructions found on the USCIS website to help guide you through the process. The required evidence is as follows.
Evidence required in the initial entrepreneur parole request:
A detailed description of your central and active role in the start-up entity along with supporting evidence.
Evidence of your ownership of the company.
Evidence that the company is indeed a start-up.
Evidence that the business received a qualified investment according to the criteria listed above
Proof of your identity.
Evidence required in the request of re-parole:
Evidence that proves you continue to meet the definition of an entrepreneur.
Evidence that proves the business still remains a start-up.
Evidence of investments made into the business of at least $500,000 according to the investment criteria.
Proof that the business created at least 5 new job opportunities.
Evidence that the business reached at least $500,000 of annual revenue and grew revenue with 20% per year during the initial parole period.
Compelling evidence that shows the business will create more jobs and hold more potential for rapid growth.
How to Apply for an EB6 Visa
As with most employment-based visas, you may need to ask an immigration attorney to file your EB6 visa application on your behalf. Get all your required documentation in order and get your Form I-941 filed. Use the instructions supplied on the USCIS website and send your application to the correct mailing address. Remember to sign your documents since any unsigned applications will be rejected.
How Much Does an EB6 Visa Cost?
The EB6 visa filing fee costs $1,200. You are also required to undergo a biometrics appointment which costs $85. Your filing fees may increase if you add other types of requests and applications to your immigration attempts, though.
EB6 Visa Processing Time?
The EB6 visa is so new that it’s hard to judge how long the processing should take. If you go with the processing time necessary for an EB5 visa you can expect to wait up to 30 months for your visa. It is also possible that it might take longer.
Can an EB6 Visa Holder transition to a Green Card?
The EB6 visa is only a nonimmigrant visa. In actual fact, it’s not even a visa. It does not make a path towards permanent residency. You’ll have to find an alternative way to get a Green Card. You might want to consider an EB5 visa or perhaps an H1B visa. Just note, that you’ll have to exit and re-enter the U.S. if your current EB6 visa status changes.