Many people received U.S. Green Cards permanent residency by using the EB-5 Immigrant Investor Program. There is a huge interest in it presently. Moreover, investors believe that it provides an unmatched opportunity to make a new beginning in America. We present four steps to the investors, in acquiring EB-5.
- Learn its basics. This program intends to encourage the creation of jobs and boost the local economy by permitting overseas investors to invest in many investment vehicles. The EB-5also creates a direct path to obtain the Green Card for an investor and allows these benefits to a set of close members. These are spouses, unmarried children below 21-years. In the past, China was a leading recipient in this program but nationals of other countries are also participating in it in a big way. It is increasingly popular with citizens of Singapore, India, Brazil, and Vietnam, and also some other countries.
There are a few differences between this visa and other Immigration Visas:
- Family members in the USA need not sponsor investors who desire to obtain the EB-5 visa.
- Its applicants need not be employed in the USA.
- EB-5 applicants have to fulfill minimum investment requirements depending on the type of investment.
2. Find a vehicle for the investment. A major part of the EB-5 Visa application process includes finding/making an investment (approved) in the U.S. The first category of investment is through the designated Regional Center. Its second category is an individual investment that can be controlled by the investor. Both these investments must be $500,000 – $1 million, based on the location of the investment and also create a minimum of 10 U.S. jobs.
- Regional Centers are organizations appointed by USCIS for promoting economic growth in a geographical area. Projects sponsored by the RC take credit directly, indirectly, and induce job creation, but the direct investments can take credit for direct creation of jobs.
- Direct EB-5 Investments are investments under the direct management of the investors. Direct investment cannot get credit for indirect job creation. The investment in EB-5 creates more indirect jobs compared to direct jobs.
The main EB-5 program is permanent in nature.
3. Filing the I-526 Petition. After the EB-5 applicant finds a qualified investment, the attorney with the Form I-526 (Immigrant Petition of the Alien Entrepreneur) approaches them. That seeks a place in the government for the above program. It also identifies the nature of the investment. The Sources for the investment need to be documented specifically. There are long years for the government to give approval or deny it. Start the process soon.
4. Getting a conditional visa is important. If a petitioner fails to get I-526, a waiting process begins. Here the waiting time for a visa depends on the country of origin of the applicant. To obtain that conditional status of resident it requires filing either the :
- Form I-485: catering to investors lawfully living in the U.S or the
- Form DS-230: catering to investors not already living in the USA
Subsequently, the process to remove conditions on residency status begins. The Form I-829 has to be filed in the 90-day window before the expiry of conditional residency. If you intend to take these steps please Contact Us.