The EB-5 Green Card: A Step-by-Step Journey
The United States Citizenship and Immigration Services (USCIS), a branch of the U.S. Department of Homeland Security, administers the EB-5 Immigrant Investor Program, which enables overseas investors and their families to obtain permanent resident status by making a qualifying capital investment.
Although the EB5 visa application process is intricate, investors generally follow four simple steps to qualify for lawful permanent resident status for themselves and their families.
It is also possible to become a citizen of the United States after holding a permanent Green Card for a predetermined amount of time.
The Benefits of Obtaining The EB-5 Green Card
One of the most accessible routes for a whole family to obtain permanent residency in the United States is through the EB-5 Immigrant Investor Program.
An investor, their spouse, and all unmarried children under 21 may be eligible for U.S. Green Cards in exchange for a single qualifying passive investment and, eventually, U.S. citizenship.
You can work, study, and live wherever.
A visa sponsor, such as an employer or educational institution, is unnecessary for the EB-5 program.
This entails that foreign investors and their family members are unrestricted in their ability to reside, work, or study anywhere in the country. They can change jobs or even quit without jeopardizing their immigration status.
No Visa Lottery
Unlike the H-1B visa, which has a randomized lottery with thousands of applicants, the EB-5 program does not. Once submitted, each investor’s petition will be thoroughly reviewed by USCIS.
Spend money on the future.
The United States has one of the most stable economies in the world, and investing in American companies can yield very high returns.
The United States is one of the safest places in the world for foreign nationals to invest their money, with relatively little political, military, or economic instability.
The World’s Best Education
A world-class 12-year education from kindergarten through secondary school, or “high school” as it is known in the United States, is also available to children of EB-5 investors for free at public schools in the United States.
One of the best in the world, the American higher education system frequently receives top rankings. Foreign nationals with permanent residency in the United States are eligible to apply as local students, greatly enhancing their chances of acceptance to prestigious universities compared to other foreign applicants.
Many of the best colleges and universities are state-sponsored, so since EB-5 investors’ children will be considered U.S. permanent residents, they will be eligible for local tuition rates often reserved for American citizens.
Step 1 : Finding the Best EB-5 Project
Finding the ideal project to invest in is the first step in using the EB-5 program to get U.S. residency. Matching potential EB-5 investors with suitable projects frequently involves immigration agents.
Investors who are looking for EB-5 projects have two investment choices:
Direct EB-5 investment is one option.
Direct EB-5 investments are made by foreign investors who directly put their EB-5 money into a new business venture (NCE). Only a small percentage of foreign investors go the direct investing route.
There are direct investment projects for investors who want to play a more active management role in the NCE. This is so that only one EB-5 investor per NCE may participate in direct EB-5 projects.
Therefore, a more “hands-on” investor is required for the EB-5 project because it is often smaller and more risky.
When calculating their needed minimum employment creation of 10 full-time, permanent jobs for U.S. workers, direct EB-5 investors may only include W-2 job positions. Additionally, it’s uncommon for a startup business to hire many new direct employees full-time and permanently.
Option 2: EB-5 Investment through a Regional Center
An immigrant investor makes a regional center investment when they pool their funds with those of other immigrant investors to create a more considerable NCE investment through a regional center that has received USCIS approval.
When foreign nationals invest in a regional center through the EB-5 program, they purchase equity shares in the investment fund of the regional center. The qualified job-creating organization utilizes the funds expressly for job creation after the fund either purchases shares in it or receives a loan from it.
According to a recent analysis of USCIS data, 94% of all successful EB-5 applicants were investors in regional centers. This is so because direct investment lacks several benefits offered by the Regional Center Program.
Regional center investors may count direct and indirect jobs toward the minimum of 10 full-time positions they must create. This means that economic modeling can be used to determine indirect employment using a project’s construction costs.
The regional center method is the most alluring choice for nearly all immigrant investors’ EB-5 investment because of its greater flexibility in achieving the job creation criterion and the pooled investment with other EB-5 investors.
The EB-5 Reform and Integrity Act of 2022 legally reinstated the EB-5 Regional Center Program after it had expired in the middle of 2021. To prove indirect job creation to USCIS, a regional center, the investor’s NCE must present invoices and hard evidence, including econometric modeling.
Job Creation & Other Requirements
Foreign nationals must be accredited investors to invest in EB-5 projects, with some exceptions.
The EB-5 project of choice needs to be a new business venture (NCE) or job-creating organization (JCE) that adds at least ten full-time jobs (35 hours per week) for Americans.
The two main objectives of the U.S. government’s support for the EB-5 Immigrant Investor Program are the development of jobs for American workers and capital investment in disadvantaged communities. Therefore, a foreign investor must be able to show USCIS how the influx of their EB-5 cash in the American company maintained or increased those ten full-time positions.
Many investors participate in initiatives sponsored by regional centers rather than direct investments since direct investments necessitate the immediate creation of 10 full-time employees.
Step 2: Investing the Necessary Capital and Filing an I-526 Petition
The amount needed for the EB-5 program must be invested once the investor has decided on a project.
Unless the project is situated in a targeted employment area (TEA), where the minimal investment is $800,000, a minimum investment of $1,050,000 is required.
Step 3: Obtaining Conditional Permanent Resident Status
An applicant may submit an application for conditional permanent residence status following the approval of the I-526 petition.
An immigrant investor with conditional permanent resident status will only be a full-time permanent resident of the United States for two years, with no chance of extension.
The immigrant investor may apply to have the “two-year” restriction lifted and earn a complete Green Card once two years have passed.
Investors Outside the United States
Investors already legally residing in the U.S. must submit Form I-485 for status adjustment.
With the help of this form, foreign investors who are currently lawfully present in the country on another visa—such as the H-1B—can alter their immigration status to that of a conditional permanent residence.
Beginning in 2022, an investor’s I-526 or I-526E petition may now be filed concurrently with Form I-485.
The EB-5 Reform and Integrity Act of 2022, passed to reduce the wait periods for EB-5 processing, brought about numerous positive developments, including concurrent filing.
Typically, an immigration lawyer is needed for either process—filing Form DS-260 or Form I-485.
Maintaining Conditional Permanent Residency
The investor is granted conditional permanent resident status for two years, when required to live in the country. The investor can travel internationally without endangering their status, although some restrictions exist.
A permanent resident may have abandoned their status as a permanent resident if USCIS feels they do not plan to dwell permanently in the country.
For instance, the holder of a Green Card must make the United States their primary residence for two years and be here for at least six months each year.
It’s critical to comprehend the effects of traveling while a conditional permanent resident because other actions may also affect USCIS’s perceptions.
Step 4: Filing an I-829 Petition and Removing Conditions from Resident Status
After two years, conditional permanent resident status expires and cannot be renewed.
The investor must submit an I-829 petition to keep their permanent resident status.
To prove that their investment complies with the EB-5 program and that the ten new full-time jobs have been maintained for the requisite minimum of two years, immigrant investors must submit Form I-829.
This petition, which must show that the investor has met the conditions of the EB-5 Green Card program, must be submitted within the last 90 days of the conditional residence period.
The investor, their spouse, and any unmarried children under 21 obtain lawful permanent residence status after the investor’s I-829 petition is approved.
Step 5: U.S. Citizenship (optional)
The investor and their family can apply for U.S. citizenship five years after receiving their original status as conditional permanent residents.
USCIS must receive Form N-400, Application for Naturalization, to process citizenship requests. A conditional permanent resident or a permanent resident can demonstrate their eligibility for citizenship by submitting Form N-900.
After the application has been processed, candidates will receive an invitation for an interview and then must complete an English and U.S. civics test.
Attending a citizenship ceremony on a given day and swearing allegiance are the process’s final requirements.
How Long is the EB-5 Visa Process?
One of the quickest and most dependable ways for an immigrant investor and their family to obtain permanent resident status in the United States is through the EB-5 visa procedure.
The EB-5 visa application procedure takes several years to finish.
I-526/I-526E and I-826 petition processing times have increased recently, a tendency that has only been made worse by the pandemic.
According to the USCIS website, 80% of I-526 applications were decided in less than four years as of January 2023. For FY 2023, I-826 petition processing times are comparable.
Some EB-5 petition filings are processed more quickly.
Learn How achieveeb5 Can Help You
There are multiple complex processes in obtaining an EB-5 visa, and each one necessitates a sizable amount of supporting data. Working with an EB-5 expert is essential for immigrant investors to get Green Cards for themselves and their families successfully.
The achieveeb5 team of professionals can guide you through every step of the EB-5 visa application process, from selecting the ideal regional center project to creating and submitting USCIS petitions.