The Employment Based Second Preference (“EB-2C”) immigration visa is a stream under the EB-2 category, offered to applicants interested in establishing their own innovative business venture in the USA. Upon approval of this application, applicants receive a 10-year unconditional USA green card for both them and their dependents under 21 years old.

To be eligible for the EB-2C stream, applicants must have at least a USA-equivalent bachelor’s degree with a minimum of five years of experience in the same field as the degree, and managerial work experience. Their innovation business venture must also be in the same field as their previous line of work. The applicant must further demonstrate that (1) the business idea has substantial merit and national importance, (2) the applicant is well-positioned to conduct the project, and (3) it would be beneficial to the USA to waive the requirement of a job offer.

The business venture has been designed with a business incubator which will incubate the business for a 2-year incubation period for USD 300,000. The incubation fee will be held in escrow until the approval of the application by USCIS. If the application is not approved, there is a 100% refund guarantee, and the applicant will receive a full refund of the USD 300,000. In other words, there is a security guarantee of the incubation fee and importantly, the approval of the EB-2 application is not contingent on the success or failure of the business venture. Furthermore, 100% of the business venture is owned by the applicant and the designated business incubator does not take any equity in the business. All profits to be generated by the business venture belong entirely to the applicant.

Additionally, there is no language, business performance, or job creation requirement for this EB-2 visa. There are also no age, nationality, or business field restrictions. On average, the processing time from submission of documents to receipt of green card is projected at 16 months.

Ultimately, the EB-2 is a great option for high-net-worth individuals who wish to start a business venture and gain permanent residence in the United States.