The EB-5 visa program may be familiar to you if you’re seeking for way to enter the country and obtain permanant residency. Through the EB-5 visa program, foreign investors can receive green card by investing in U.S. busineses and creating jobs for U.S. people. This is a special imigration program. The U.S. Congress created the EB-5 visa program in 1990 in an effort to boost the country’s economy and draw in international investment. Investors from any nation who fulfill the qualifying requirements and abide by the program rules and regulations are welcome to participate for program.
What advantages and disadvantage come with the EB-5 visa program?
In addition to allowing you to enter the country, the EB-5 visa program helps you further your carer and personal objectives. Participating in the EB-5 visa program entitles you to a number of advantages, including:
– A quick and adaptable route to citizenship. The EB-5 visa program does not require a sponsor, a job offer, or a particular skill or educational level, in contrast to other immigration categories. As soon as your investment is accepted and you fulfill the employment creation criterion, you are eligible to apply for a green card. Along with you may be your spouse and any unmarried children under the age of twenty-one.
– The ability to select where one lives and works. You are not restricted to any one place of employment or industry as an EB-5 investor. Depending on your interests and possibilities, you can live and work anywhere in the United States. As long as you keep your resident status, you are also allowed to travel within and outside of the nation.
– The possible yield on investment. You might be able to turn a profit on your EB-5 project, depending on the nature and success of your investment. The expansion of the US economy and the appreciation of your investment could potentially be advantageous to you.
How do I apply for an EB-5 visa? What are the steps in the process?
The procedure of applying for an EB-5 visa is not easy or clear-cut. It calls for thorough preparation, patience, and planning. Depending on a number of variables, including the intricacy of your case, the length of time it takes to process your application, and the availability of visas, the application procedure may take several months to several years. The following steps are included in the application process:
locating a project that fits. The first step is to identify a project that satisfies both the parameters of the EB-5 visa program and your investment ambitions. Investing in a project associated with a regional center, a federally approved organization that links foreign investors and developers in need of funding, is an option, as is investing directly in your own company or a company you actively manage (regional center investment). Before selecting a choice, you should conduct a thorough investigation, exercise due diligence on the project and the partners involved, and speak with experts including financial consultants, attorneys, and accountants.
putting money into it. Investing in the select project is the next step. $1,050,000 is the minimum investment require to be eligible for an EB-5 visa. If the investment is made in a targeted employment area (TEA), which is either a rural area or a area with a high unemployment rate, the investment limit can be lowered to $800,000. Every five years, the investment amount is modified to account for inflation. Make sure the money you are investing comes from a legitimate source and that you have documentation of its transfer and origin. Additionally, you should confirm that your investment is risky and that you have a clear plan for withdrawing money once the conditions of the EB-5 visa program are met.
submitting the appeal. The petition must be submitted to the U.S. Citizenship and Immigration Services (USCIS), the organization in charge of running the EB-5 visa program, in the third phase. Form I-526, Immigrant Petition by Alien Investor, is the name of the petition. Evidence of your investment, that it satisfies the standards of the EB-5 visa program, and that it will generate or maintain at least 10 full-time jobs for eligible U.S. workers must all be included in the petition. $3,675 is the petition’s filing fee. Depending on the volume of work and the backlog at USCIS, the petition may take several months to more than a year to process.
acquiring the green card with conditions. Getting the conditional green card, a provisional document good for two years, is the fourth stage. If you are already in the country with a valid visa, you can apply for an adjustment of status; if you are outside of the country, you can apply for an immigrant visa to receive the conditional green card. Form I-485, Application to Register Permanent Residence or Adjust Status, is the application for the status adjustment. Form DS-260, Immigrant Visa and Alien Registration Application, is the application used to obtain an immigrant visa. Proof that your I-526 petition has been granted and that you qualify for the EB-5 visa program must be included in both applications. Depending on the kind and location of the application, different costs and processing times apply.
Eliminating the prerequisites. Removing the conditions off your green card and becoming a permanent resident is the fifth and last stage. This needs to be completed ninety days prior to the conditional green card expiration date. To remove conditions on your permanent resident status, you must file Form I-829, Petition by Entrepreneur, with USCIS. Evidence of your continued investment, your investment’s fulfillment of the job creation criterion, and your compliance with the EB-5 visa program’s rules and regulations must all be included in your petition. $3,750 is the petition’s filing fee. Depending on the volume of work and the backlog at USCIS, the petition may take up to two years to process. Your permanent green card will be issued to you upon approval of your petition. It has a ten-year validity period and is renewable forever. After five years of permanent residency, you will also be qualified to apply for U.S. citizenship.
