The procedure for filing an EB-5 Investor Green Card petition is relatively straightforward. The investor must present evidence that traces the funds through bank transfers and other documentation, from the investor directly to the enterprise. The money can be the investors own funds or in the form of a loan or gift, which would allow a parent to gift a son or daughter.
After the investor completes a thorough business and financial due diligence analysis of the viability of the Regional Center business opportunity, the investment is made and an I-526 petition is filed by the foreign investor with CIS, requiring CIS to approve that the applicant (source of funds) and the investment are eligible for EB-5 status, which takes an average of 4-5 months.
If the investor is already in the U.S., generally in valid work status, he or she then applies for a Green Card through CIS. No interview customarily is required, and approval for most cases is currently taking approximately 3-6 months. If the investor resides abroad, an application for the Green Card is generally made at the U.S. Embassy or Consulate in the investor’s home country, where an interview is necessary. Approval of the Green Card in this case takes on average about 6-10 months. Thus, the entire process generally takes about 8-18 months, depending on where the Green Card processing occurs. This is the situation for most EB-5 applicants based on November 2010 CIS and State Department Consular processing times, however times may vary depending on the facts of each case.
Once CIS or a U.S. Consulate approves the investor’s Green Card, it is conditional for a period of two years. Conditional Green Card status confers the same rights as the permanent Green Card. Between 21-24 months after the conditional Green Card has been approved, the investor must reconfirm that the investment has been made and that the employment requirement has been fulfilled. An I-829 application to remove the conditional Green Card status is then filed with CIS.
Once the condition has been removed, a full Green Card is granted for permanent resident status. From the filing of the I-526 application until approval of the Removal of Conditions usually takes about 4-5 years. Thereafter, in an approved EB-5 case, if the investment is sold, the investor will still maintain the permanent Green Card.
Acquiring lawful permanent residence (Green Card) through the EB-5 visa category is a three-step process. First the applicant must obtain approval of his or her Form I-526 Petition for an Alien Entrepreneur. Second, he or she must either file an I-485 application to adjust status to lawful permanent resident, or apply for an immigrant visa at a U.S. consulate or embassy outside of the United States. The EB-5 applicant (and his or her family members) are granted conditional permanent residence for a two-year period upon the approval of the I-485 application or once they enter the United States with an EB-5 immigrant visa. Third, a Form I-829 Petition by an Entrepreneur to Remove Conditions must be filed 90 days prior to the two-year anniversary of the granting of the EB-5 applicant’s conditional Green Card. When Customs and Immigration Services approves this petition the EB-5 applicant and his or her family will be issued a new Green Card without any further conditions attached to it, and will be allowed to permanently live and work in the United States.
The process of obtaining permanent residency through the EB-5 Immigrant Investor Visa Program is an expeditious path to getting a green card, however it requires a lot of documentation. There are two different types of investment: Direct Investment or Indirect Investment through a Regional Center. The minimum investment is $1 million. However, if the invested project is in a Targeted Employment Area (population less than 20,000 and unemployment 150% above the national average) you can qualify for the reduced threshold of $500,000. The first step is filing an I-526 with USCIS. The most important part of the I-526 is showing the Source of Funds to prove that the capital being used in the investment was obtained in a lawful way. If USCIS accepts your petition, you will be granted a conditional green card for 2 years. After the two years you can apply for the I-829 Removal of Conditions. If you can show that your investment was used entirely and created 10 full time jobs for US citizens you will be granted a green card and will become a permanent resident. After 5 years of holding a green card you can apply for a US passport and then will be a US citizen. The EB-5 Immigrant Investor Program includes the investor, spouse, and any unmarried children under the age of 21.
There are multiple steps a foreign national must take to obtain lawful permanent resident status in the U.S. First, the foreign national must locate and invest in a new commercial enterprise in the U.S. Second, the foreign national must file a Form I-526 Immigrant Petition by Alien Entrepreneur (I-526) with USCIS. Upon approval of the I-526, the foreign national must either apply for an immigrant visa at a U.S. Consulate or U.S. Embassy abroad, or, if the foreign national is lawfully in the U.S., file a Form I-485 Application to Register Permanent Residence or Adjust Status (I-485). Upon entrance into the U.S. on an immigrant visa, or upon approval of the I-485, the foreign national becomes a conditional lawful permanent resident. Within 90 days before the two year anniversary of the EB-5 investor’s entrance into the U.S. on the EB-5 Visa, or approval of the I-485, the EB-5 investor must file a Form I-829 Petition by Alien Entrepreneur to Remove Conditions (I-829) to remove the conditions on his lawful permanent resident status.
There are multiple steps a foreign national must take to obtain lawful permanent resident status in the U.S. First, the foreign national must locate and invest in a new commercial enterprise in the U.S. Second, the foreign national must file a Form I-526 Immigrant Petition by Alien Entrepreneur (I-526) with USCIS. Upon approval of the I-526, the foreign national must either apply for an immigrant visa at a U.S. Consulate or U.S. Embassy abroad, or, if the foreign national is lawfully in the U.S., file a Form I-485 Application to Register Permanent Residence or Adjust Status (I-485). Upon entrance into the U.S. on an immigrant visa, or upon approval of the I-485, the foreign national becomes a conditional lawful permanent resident. Within 90 days before the two year anniversary of the EB-5 investor’s entrance into the U.S. on the EB-5 Visa, or approval of the I-485, the EB-5 investor must file a Form I-829 Petition by Alien Entrepreneur to Remove Conditions (I-829) to remove the conditions on his lawful permanent resident status.