Understanding the EB5 Visa Program
The EB-5 Visa Program is an employment-based immigrant visa program in the United States. It was created by the U.S. Congress in 1990 to stimulate the U.S. economy by attracting foreign investment and creating jobs for U.S. workers. The program is administered by the U.S. Citizenship and Immigration Services (USCIS).
Here’s how the EB-5 Visa Program works:
- Investment Requirement: To be eligible for the EB-5 visa, foreign investors must make a qualifying investment in a new commercial enterprise in the United States. Two investment options:
Direct Investment: Investing at least $1 million (or $500,000 in certain targeted employment areas with high unemployment rates) in a new commercial enterprise that creates or preserves at least ten full-time jobs for qualifying U.S. workers.
Regional Center Investment: Investing at least $1 million (or $500,000 in certain targeted employment areas) in a new commercial enterprise affiliated with a USCIS-designated Regional Center. Regional Centers facilitate and promote economic growth through pooled investments and job creation.
2. Job Creation: Regardless of the chosen investment option, the EB-5 investor must create or preserve at least ten full-time jobs for qualifying U.S. workers within two years of the investor’s admission to the United States as a conditional permanent resident.
3. Conditional Green Card: Successful EB-5 applicants and their immediate family members (spouse and unmarried children under 21) are granted conditional permanent resident status upon approval of their initial EB-5 petition. This status is valid for two years.
4.Removing Conditions: After two years, EB-5 investors must file a petition to remove the conditions on their permanent residence by providing evidence that their investment has been sustained and has created the required jobs.
5.Permanent Residency: Once the conditions are removed, EB-5 investors and their family members can become United States’ lawful permanent residents (green card holders). This allows them to live, work, and study anywhere in the U.S.
The EB-5 Visa Program allows foreign investors and their families to obtain permanent residency in the U.S. and eventually pursue citizenship. However, it’s essential to carefully follow the program’s requirements and work with experienced immigration and investment professionals to ensure a successful application process.