EB5 Green Card
What is an EB-5 Investor Visa?
The EB-5 visa program, which is designated as the Employment-Based Immigration: Fifth Preference immigrant investor program, is operated by the United States Citizenship and Immigration Services (USCIS). The program was established by the United States Congress in 1990 to facilitate increased investment in the U.S. economy. The EB-5 investor visa program enables foreign entrepreneurs who make an investment in a U.S. business to become lawful permanent residents of the United States. EB-5 green card holders can permanently live and work in the United States with their spouse and unmarried children under the age of 21. Several reforms have been made to the program over the years to increase demand for EB-5 visas. Such reforms include the establishment of EB-5 Regional Centers through a Pilot Program.
What is the EB-5 Visa Requirements?
To meet EB-5 investor visa requirements, foreign investors must make a capital investment in a for-profit U.S. business entity. The required investment amount depends on the location and type of business that receives the investment. In general, the capital investment must be $1 million valuated at current U.S. market rates. Investments made in economically depressed locations called Targeted Employment Areas (TEA) or in rural areas can qualify for a lowered mandatory investment threshold of $500,000. EB-5 investments must lead to the creation of 10 full-time U.S. jobs for at least 2 years.
How many EB-5 Visas are issued each year?
The United States Immigration and Citizenship Services reserves 10,000 visas for EB-5 investors each fiscal year. This 10,000 visa quota has never been met. There was a drastic increase in the number of EB-5 program participants in recent years. This growth can be attributed to increased confidence in the program due to USCIS transparency within the program, efficiencies in the application process, and growth in the number of Regional Centers established across the United States.
EB-5 Regional Centers
EB-5 investor visa applicants have two main investment options. They can either invest as an individual or through an EB-5 Regional Center. Individual investors must find their own investment project and must take a direct managerial role in overseeing that project. Individual investment is best for those who want more hands on control of their investment and the project that received their investment.
EB-5 investor visa applicants can also make their investment to an EB-5 Regional Center. This option is best for those who are more interested in immigration rather than obtaining a maximum return on their investment. Regional Centers receive designation from the USCIS to administer EB-5 investment projects. Regional Centers are responsible for adhering to USCIS EB-5 program regulations. This takes strain off of the investors so that they are not solely responsible for meeting program requirements. As a result, investment through Regional Centers suits those who want a more hands off approach where they are not responsible for the direct management of their investment. Roughly 90 percent of all EB-5 applicants invest through a Regional Center.
EB-5 Investor Visa Application
EB-5 visa applicants must follow three general steps to obtain U.S. permanent residency:
- Submit I-526 petition to USCIS demonstrating that you have made an EB-5 investment in an:
- Individual business that will create 10 full-time U.S. jobs per investor OR
- In a USCIS designated regional center where the investor may create 10 direct, indirect and/ or induced jobs per investor.
- Upon I-526 approval, the investor submits their conditional permanent resident application either through the filing of an I-485, Application for Adjustment of Status, or DS-230, Application for Immigrant Visa, depending on if the applicant is currently in the U.S. on a valid non-immigrant status. This is the petition that will confer the green card to the investor and his eligible dependents.
- Lastly, the investors must prove that all EB-5 requirements have been met at the end of the two year conditional residency by filing the I-829 application to remove conditions of residency. The investor, their spouse, and their unmarried children under the age of 21 then become lawful permanent residents and receive their ten year green cards.
