The EB-5 program allows foreign nationals to gain permanent residency in the United States. Investors must invest in a new commercial enterprise and create at least ten full-time jobs.
Learn about the minimum capital requirement, the source of funds, and how to qualify for the program. Then get a step-by-step overview of the entire process.
Find a Project to Invest In
The first step in completing the EB-5 green card process is to find a business project you wish to invest in. This can be done by yourself or through a regional center. Choosing the right enterprise can make or break your success with the EB-5 visa program. Hiring experienced legal representatives to assist you in this process is a good idea.
The EB-5 immigrant investor program requires you to invest at least USD 1,050,000 (USD 800,000 in targeted employment areas) into a new commercial enterprise (NCE). The NCE must create at least ten jobs for U.S. citizens or permanent residents.
Overseas migration agents frequently help EB-5 investors locate suitable projects. Once you’ve found a project, it must be approved by USCIS to proceed with your application.
NCEs can be structured as a corporation, limited liability company, partnership, or sole proprietorship. Your immigration representative will discuss the options with you and determine the most appropriate structure for your investment.
It is important to note that an NCE must be “at-risk.” This means you may receive a return on investment at the end of the two-year conditional green card period. This also means you can only travel outside the United States with a re-entry permit. When the two-year conditional green card period ends, you must file for form I-829, “Petition to Remove Conditions,” to receive an unconditional EB-5 green card.
Find a Regional Center
The EB-5 program requires applicants to invest in projects that create ten full-time jobs for U.S. workers. This can be achieved through direct investment in a new commercial enterprise or a regional center project. Direct investments require the investor to have a hands-on role in managing the business and meeting certain requirements. Regional center projects, on the other hand, allow investors to be passive in their investments and still qualify for a green card.
USCIS approves hundreds, and each has its advantages. Typically, these differences revolve around the region’s geographic scope, the principals’ profiles, and the allowed investment structures.
Another important consideration is whether a regional center has been designated a set-aside for quicker processing, which will affect the overall timeline. For example, regional center projects dealing with infrastructure, rural areas, or high-unemployment regions can be processed more quickly than others.
It is worth noting that immigration attorneys are typically not permitted to recommend a specific regional center. Such recommendations could be considered securities advice, which attorneys are not licensed to provide. Therefore, all investors must perform significant due diligence on their potential investments, including using a qualified securities attorney.
Filing Your Petition
A successful EB-5 investment allows the investor and their family to become permanent residents of the United States (aka green card holders). The minimum required investment has fluctuated over the years but is currently set at either $1,050,000 or $800,000 (the lower amount is only permitted when investing in rural or high unemployment settings, also known as TEAs).
Most people invest in a “regional center” rather than creating their own business because they don’t have to create the ten jobs directly. However, suppose you purchase an existing business and save it from going under. In that case, you can meet the job creation requirement by showing that the company employed at least as many employees as it had when you purchased it for two years.
Once your I-526 petition is approved, the next step is to file for a conditional green card (Form I-829). Once you’ve completed two years of being a conditional resident, you must submit Form I-829 to remove the conditions on your green card and gain full lawful permanent residency status.
Remember that as a conditional resident, you may only work and live in the U.S. If you go outside the country for too long or commit a crime, you could lose your green card.
Getting Your Green Card
To obtain permanent residency in the United States, you can apply for an EB-5 green card process, an official immigration document issued by USCIS. The path you should take depends on your eligibility category. The most common way to get a green card is through a family relationship, but other options are also available.
- Filing an employment-based petition.
- Participating in the diversity lottery.
- Applying as a refugee or asylee.
Immigrants can also obtain a green card by marrying a U.S. citizen or lawful permanent resident. To qualify, the marriage must be legitimate and not a sham. Additionally, it must not violate federal or state laws or public policy (incestuous marriages, polygamy, etc).
After your green card is approved, USCIS will send you a Notice of Action with the approval date. You should expect to receive your green card welcome packet in the mail within 30 days after that.
It is important to understand that the green card process can be very complex and confusing. For this reason, it is recommended that you seek the services of a qualified immigration attorney to help you through the process. A lawyer can help ensure that you submit all the required documents and avoid any delays or mistakes that could lead to the denial of your application.
