The Condition of you permanent residence will be removed upon the approval of an I-829 petition. Once approved, you will receive Legal Permanent Resident status.
In order for an EB-5 visa to become permanent an EB-5 applicant must file Form I-829 (Petition by an Entrepreneur to Remove Conditions) 90 days prior to the two year anniversary of the granting of the EB-5 applicant’s conditional Green Card. When this petition is approved by CIS the EB-5 applicant will be issued a new green card and will be allowed to permanently live and work in the U.S.
90 days prior to the two year anniversary of the conditional green card, the investor will file for a removal of conditions. Once that is approved, the investor will be granted a permanent green card.
Your permanent resident status will become free and clear AFTER conditions have been satisfied and removed (lifted) upon meeting the requirements and approval of form I-829. AFTER conditions are lifted, all the conditional time counts towards naturalization eligibility.
Upon approval of your form I-829 Removal of Conditions petition.