ACT 203 Allocation of Immigrant Visas
MyImmigrationAttorney has reproduced Act 203 of the Immigration and Nationality Act here for your convenience. INA Act 203 Allocation of Immigrant Visas, which can lead to permanent US residence if handled by the right immigration lawyer or immigration attorney. Peruse the code to learn more about immigration law.
INA: ACT 203 ALLOCATION OF IMMIGRANT VISAS
(A) In general. – Visas shall be made available, in a number not to exceed 7.1 percent of such worldwide level, to qualified immigrants seeking to enter the United States for the purpose of engaging in a new commercial 4/ enterprise (including a limited partnership)–
(i) 4/ in which such alien has invested (after the date of the enactment of the Immigration Act of 1990) or, is actively in the process of investing, capital in an amount not less than the amount specified in subparagraph (C), and
(ii) 4/ which will benefit the United States economy and create full-time employment for not fewer than 10 United States citizens or aliens lawfully admitted for permanent residence or other immigrants lawfully authorized to be employed in the United States (other than the immigrant and the immigrant’s spouse, sons, or daughters).
(B) Set-aside for targeted employment areas.-
(i) In general. – Not less than 3,000 of the visas made available under this paragraph in each fiscal year shall be reserved for qualified immigrants who 4/ invest in a new commercial enterprise described in subparagraph (A) which will create employment in a targeted employment area.
(ii) Targeted employment area defined. – In this paragraph, the term “targeted employment area” means, at the time of the investment, a rural area or an area which has experienced high unemployment (of at least 150 percent of the national average rate).
(iii) Rural area defined. – In this paragraph, the term “rural area” means any area other than an area within a metropolitan statistical area or within the outer boundary of any city or town having a population of 20,000 or more (based on the most recent decennial census of the United States).
(C) Amount of capital required. –
(i) In general. – Except as otherwise provided in this subparagraph, the amount of capital required under subparagraph
(A) shall be $1,000,000. The Attorney General, in consultation with the Secretary of Labor and the Secretary of State, may from time to time prescribe regulations increasing the dollar amount specified under the previous sentence.
(ii) Adjustment for targeted employment areas.- The Attorney General may, in the case of investment made in a targeted employment area, specify an amount of capital required under subparagraph (A) that is less than (but not less than 1/2 of) the amount specified in clause (i).
(iii) Adjustment for high employment areas.-In the case of an investment made in a part of a metropolitan statistical area that at the time of the investment –
(I) is not a targeted employment area, and
(II) is an area with an unemployment rate significantly below the national average unemployment rate, the immigration attorney may specify an amount of capital required under subparagraph (A) that is greater than (but not greater than 3 times) the amount specified inclause (I).
(D) 4/ Full-time employment defined.–In this paragraph, the term `full-time employment’ means employment in a position that requires at least 35 hours of service per week at any time, regardless of who fills the position.
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