What is the EB-5 Immigrant Investor Program and when was it created?
The EB-5 Immigrant Investor Program gives qualified foreign investors the opportunity to obtain permanent resident status in the United States, administered by the United States immigration and Citizenship Service (USCIS), The EB-5 Program requires foreign individuals to invest $500,000 to $1 million in a U.S.-based business and create a total of ten new jobs.
In 1990, United States Congress enacted an Immigration Act, which created an employment-creation immigration investor visa program (EB-5 Visa) to be administrated by the U.S. Citizenship and Immigration Services (‘USCIS’) through its legacy agencies, the Bureau and Immigration Services and the Immigration and Naturalization Services. The EB-5 Visa permits foreign nationals to receive conditional resident status in the United States in exchange for making a qualifying capital investment in a United States business that will benefit local economy.
What is the difference between “conditional” and “permanent” green card?
Conditional green cards will be issued by USCIS after approval of the I-526 petition. Investors receive permanent green cards upon USCIS approval of the I-829 petition.
What is a regional center?
EB-5 Regional Center is an organization authorized by United States Citizenship and Immigration Services (USCIS) to receive and manage EB-5 investor funds. Regional Centers promote economic development and job creation within a specific geographic area.
What is the difference between “conditional” and “permanent” green card?
Conditional green cards will be issued by USCIS after approval of the I-526 petition. Investors receive permanent green cards upon USCIS approval of the I-829 petition.
What is I-526 Petition?
The I-526 petition is the initial visa application as part of the EB-5 Immigrant Investor Program. Prospective investors and their attorneys file this petition with the USCIS and include documentation demonstrating the investor’s eligibility.
What is I-829 Petition?
The I-829 petition is the final step in the EB-5 Immigrant Investor Program, will be filed by Investors and their attorneys, be able to provide evidence that the investors has successfully fulfilled all of the program’s requirements, Upon approval of the I-829 petition, investors and their family members will receive permanent green cards.
May I apply for an EB-5 visa if I have previously been denied a visa to the U.S.?
If you have been previously denied a visa to the U.S., you may still apply for an EB-5 visa.
What is the minimum amount investment required?
An investment of at least $1,000,000 is required for an EB-5 visa. If however, the investment is made in an area that has been designated a Targeted Employment Area (TEA), the investment is a minimum of $500,000.
What is Target Area Employment (TEA)?
Areas in rural or remote parts with 1.5 times unemployment rate compare to national average are considered as TEA.
Does Investor required to speak English?
No, you are not required to speak English to apply for the EB5 program.
Do I need to have business experience?
No, you do not need to have any business experience.
Do I need to have a college education?
No, you are not required to have an educational background.
What issues have been the most problematic in EB-5 Process?
The most common problem encountered for EB-5 Investment has been the issues of Source of funds documentations. USCIS requires careful examinations of documented source of funds to ensure that fund investing in the United States was lawfully obtained.
What is “Source of funds”?
Funds used for EB5 investment must have supported documents to ensure that fund investing in the United States was lawfully obtained. There are a variety of ways to prove lawful source of funds. The key is good documentation showing both the source and path of the money. Common EB-5 source of funds may come from earned income, investment proceeds, sales of property, property loan, ownership in a company, company loans, and gifts.
What other requirements are there in order to obtain an EB-5 visa?
To obtain an EB-5 visa, as with any other visa to the U.S., the applicant and any accompanying family members must meet all requirements (e.g., criminal, medical) stipulated by the immigration laws of the United States.
How many EB-5 are available each year?
The EB-5 Program offers a maximum of 10,000 EB-5 Visas each year.
What are the financial risks involved with the investing in a Regional Center?
All investments are risky by nature and the Regional Center projects are not exceptions. Under the law, the Regional Center cannot guarantee profit or the return of the principal investment. Investor is recommended to have a qualified expert and experienced EB5 immigration lawyer to assist Investor with investment decision and legal document in the application filing process.
How does the EB-5 visa differ from H-1 or an L-1 visa ?
With an EB-5 visa, you obtain a green card for permanent residence in the United States. After 5 years, the investors and their family may obtain US citizenship, subject to meeting all immigration requirements. Other visas such as H-1 or L-1, may never result in permanent residence, have time limits, must be renewed, and require additional filings with the USCIS or Department of State.
Where can I find more information about the EB-5 visa program?
Further information regarding the application process, requirements, and benefits of the EB-5 visa program can be found on the website of the U.S. Citizenship and Immigration Services (www.uscis.gov).