Ans:

The Immigration Act of 1990 created a new immigrant visa category for alien entrepreneurs known as the Immigrant Investor Visa Program. The program requires an alien to invest or be actively in the process of investing either US$500,000 or US$1 million (depending on geographic location) in a new or existing business enterprise that directly or indirectly results in the creation or preservation of at least ten full time U.S. jobs within two years. The investment must be at risk. Thus, the investment cannot be a "loan" that is guaranteed to be repaid. The amount of money required depends on the location of the investment. Certain high unemployment, low income areas of the U.S. require only $500,000 while other areas require the full $1 million.

There are various types of investments available:

1. The new enterprise which is either the creation of an original business or the restructuring or an existing business such that a new commercial enterprise results.
2. The expansion of an existing business resulting in the 40% increase in the net worth or number of employees of the company.
   
3. The troubled business investment requires the investment in a business which has been existing for at least two years and for 12 to 24 months prior to the filing of the petition has shown at least a loss of profit equal to 20% of the business's net worth.

The alien can decide to operate his own business or the alien can participate in one of the many investment immigration companies who set up and manage the investments for aliens with the goal of achieving a green card for the alien and his/her family.

On approval of the investor visa, a "temporary green card" is issued. The temporary status needs to be removed prior to the 2nd anniversary of approval. Removal is based on a showing that the alien has complied with the terms and conditions of the application, i.e., the ten workers have been hired and the money invested.