The EB-5 visa is one of the most effective ways for foreign investors to obtain lawful permanent residency (a green card) in the United States for themselves and their families. This program, managed by the United States Citizenship and Immigration Services (USCIS), is designed to stimulate investment in the U.S. economy and create jobs for American workers. The process of obtaining an EB-5 visa is complex and extremely difficult to complete successfully without a skilled U.S. immigration attorney. Below is a broad overview of the process and the USCIS requirements, which often change from time to time.
Basic EB-5 Eligiblity Requirements
1. Capital Investment:
The investor must make a minimum investment of $1.05 million in a commercial enterprise in the United States. This amount is reduced to $800,000 if the investment is made in a rural area or a high-unemployment area designated as a Targeted Employment Area (TEA).
2. Job Creation/Preservation:
For a new commerical enterprise, the investment must create at least 10 full-time jobs for U.S. workers within two years of the investor’s admission as a conditional permanent resident. In the case of a troubled business with a net loss that has been in existence for at least two years, the number of existing employees must be preserved at least at the pre-investment level for a period of two years.
3. Source of Funds:
The investor must demonstrate that the invested funds were obtained legally.
EB-5 Visa Application Process
1. Selection of Investment Project:
The first step is to select a suitable investment project. This can be done through a direct investment in a new or troubled commercial Enterprise, or through a USCIS-approved EB-5 Immigrant Investor Regional Center.
2. Filing the I-526 Petition:
The investor must file the Immigrant Petition by Alien Investor (Form I-526) with USCIS, along with proper evidence of the qualifying investment and job creation or preservation.
3. Approval of the I-526 Petition:
Once the petition is approved, the investor and his or her immediate family members (spouse and unmarried children under 21) can apply for conditional residency through Form DS-260 at a U.S. Embassy or Consulate, or adjust their status through Form I-485 if they are already in the U.S.
4. Conditional Residency:
If approved, the investor and his or her family will receive conditional residency for two years. During this time, they must fulfill the job creation or preservation requirements, as the case may be.
5. Removal of Conditions:
At the end of the two-year period, the investor must file Form I-829 to remove the conditions on the investor’s residency and obtain permanent residency.
6. Length of Process:
The amount of time it takes to complete the EB-5 process from start to finish varies between approximately 18 months and several years depending on the investor’s country of birth and other factors.
7. Renewal:
An EB-5 is valid for 10 years and then can be renewed, if the investor has maintained a continuous U.S. residence since arriving on the EB-5
EB-5 Immigrant Investor Regional Centers
Regional Centers are entities designated by USCIS to manage EB-5 investment projects in specific geographic areas. These centers facilitate the investment and job creation process for foreign investors. Here are some key points about Regional Centers:
- Investment Facilitation: Regional Centers manage and oversee investment projects that already meet the requirements of the EB-5 program, providing a more accessible and less direct option for investors.
- Indirect Job Creation: Unlike direct investments, investments through Regional Centers can count indirect and induced jobs (those created as a secondary effect of the primary investment) to meet the job creation requirement.
- Risk Diversification: Regional Centers allow investors to participate in larger-scale projects, which can diversify the investment risk.
Benefits for the Investor’s Family
One of the major attractions of the EB-5 visa is that it not only benefits the principal investor but also his or her immediate family members. The investor’s spouse and unmarried children under 21 can obtain conditional green cards and, eventually, permanent residency along with the principal investor. This means that the entire family can live, work, and study in the United States permanently.
Conclusion
Obtaining green cards through the EB-5 visa is a process that offers a clear and structured path for investors and their families to settle in the United States. USCIS-approved EB-5 Immigrant Investor Regional Centers play a crucial role in simplifying this process, offering professionally managed investment opportunities that meet the program’s requirements.
At The Asa Hutchinson Law Group, we are dedicated to assisting potential investors at every step of the EB-5 process. We not only help connect our clients with qualified direct investment projects and businesses, but we also can help guide them to USCIS-approved Regional Centers. Our goal is to ensure that our clients and their families can successfully obtain their green cards through the EB-5 visa, while making the appropriate investment that meets the investor’s objectives.
If you are considering the EB-5 visa as an option for you and your family, please do not hesitate to contact us. We are here to help you navigate this challenging process and ensure compliance with all legal requirements. For a fee quote, please contact our immigration attorneys Asa Hutchinson III at [email protected] or Susy Tejeda at [email protected]