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Sunday, June 3, 2012

TNNP and EB5 Immigrant Investor Visas Compared

The fifth 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 TNNP (TN NAFTA Professionals) Visa is described by the government's website as a visa which �permits qualified Canadian and Mexican citizens to seek temporary entry into the United States to engage in business activities at a professional level."In this article we will take a closer look at the TNNP and EB5 Immigrant Investor visas to see how their paths to a Green Card Visa compare and contrast.

TNNP (TN NAFTA Professionals) Visa Qualifications � As per the government's website:

Among the types of professionals who are eligible to seek admission as TN non-immigrants are accountants, engineers, lawyers, pharmacists, scientists, and teachers. You may be eligible for TN nonimmigrant status, if:

You are a citizen of Canada or Mexico Your profession qualifies under the regulations The position in the United States requires a NAFTA professional You have a prearranged full-time or part-time job with a U.S. employer (but not self-employment - see documentation required below) You have the qualifications of the profession

EB5 Visa �In stark contrast to the TNNP Visa, lays the Immigrant Investor Visa. According to the government's web page, to qualify for the Eb5 Visa Program you must:

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.) then the minimum investment requirement is $500,000. Benefit the U.S. economy by providing goods or services to U.S. markets. 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). Be involved in the day-to-day management of the new business or directly manage it through formulating business policy � for example as a Limited Partner, corporate officer or board member.

We see in this comparison that the TNNP and EB5 immigrant investor visa are very different in nature and offer disparate paths to a Green Card Visa. While the TNNP allows a Mexican or Canadian citizen to enter the country for the purposes of engaging in business, the EB5 visa relies on an immigrant's investment to create new full-time jobs for the American workforce.

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