The EB5 visa is commonly known as the immigrant investor program and is one of the employment-based routes to obtaining permanent residency in the US. Under this program, foreign investors and their dependents can enter the United States to manage or monitor your investments if they meet the eligibility criteria.
The United States Congress created the EB5 visa program under the Immigration Act of 1990 to stimulate and grow the economy through foreign capital investment and job creation.
Interested EB5 investors can consult with an experienced immigration services attorney to draft a successful application that meets all United States Citizenship and Immigration Services (USCIS) requirements and avoid being denied.
An experienced EB5 visa attorney can provide you with invaluable guidance and support throughout the immigration process. Some of the benefits of hiring an EB5 visa attorney at Andrew T. Thomas, Attorneys at Law include:
Expert Knowledge: Our immigration attorneys have extensive experience handling EB5 visa cases and are well informed about any changes or updates to the immigration process.
Case-Specific Strategies: Each EB5 visa case is unique and our attorneys will develop a personalized plan that meets your specific needs and objectives.
Proper Documentation : With an experienced attorney, you can ensure that all necessary documents are prepared accurately and filed on time.
Overcoming Obstacles: If your EB5 visa application faces obstacles or challenges, an experienced attorney can provide solutions and help you overcome them.
There are five preference categories in the employment-based pathway for permanent workers in the US. The EB5 visa is the fifth preference category, hence its nomenclature: EB5. USCIS grants up to 10,000 EB5 visas annually, with no country obtaining more than 7% of available visas.
Many believe that an EB5 visa is easier to obtain than most other employment-based visas, as it does not require any labor certification process, existing business in the home country, or proof of extraordinary ability. However, the application process, deadlines, and requirements can still be challenging. It may be helpful to find and hire a competent attorney or law firm to represent you, especially if you need to go to immigration court.
Below are some of the requirements for this visa:
EB5 investors must invest in a new business enterprise established after the creation of the green card program on November 29, 1990. Alternatively, it could be an existing business that has grown at least 40% through the investment or has been restructured to become a new business.
The company must create at least ten full-time jobs for qualified people.
The investor must have acquired his capital funds through a lawful source.
The investor must be the legal owner of the funds.
Private equity funds must be truly at risk, that is, invested in the business and not simply in the business account or an investment with a guaranteed rate of return.
The investment must meet the minimum amount requirement.
Under the EB-5 Integrity and Reform Act of 2022, signed into law by President Biden, minimum investment amounts are $1,050,000 for standard investments and $800,000 for investments in a specific area of employment. States define specific employment areas and are generally places where jobs are needed most.
The first step is to file Form I-526 for independent investors or Form I-526E for regional center investors with USCIS. Processing times for this form vary depending on the investor’s country of origin and whether or not complications arise during the process.
If you are within the US at the time you file Form I-526: You may apply for adjustment of status by filing Form I-485. Form I-485 can be filed at the same time as your immigrant investor petition if a visa is available, that is, your current priority date.
If you are outside the United States when filing Form I-526: You must file Form DS-260 with the Department of State to begin the request for consular processing.
Upon entering the US, you will be granted conditional permanent residency for two years which you must renew within 90 days of the expiration of this status. If you meet all the requirements related to the business you invested in, your application will be approved and you will obtain permanent legal residence.
The investor, his or her spouse, and unmarried children under 21 years of age can obtain a green card with a single application.
You can live, work, study, and retire anywhere in the US without needing separate work permits or student visas.
Your children can attend any school, college or university in the US with resident tuition rates.
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