EB-5 Visa to Green Card: (Free guide to Immigrant Investor Program)
The EB-5 Visa also called Immigrant Investor Program is a popular way to obtain a green card in the United States. This guide will explain the basics of the EB-5 Visa, including what it is, who can apply for it, and the benefits of obtaining this visa. If you are interested in learning more about the EB5 Visa, this guide is for you!
What is EB-5 Visa?
Under the Immigrant Investor Program, investors (and their spouses and unmarried children under 21 are eligible to apply for a Green Card (permanent residence) if they:
- Make the necessary capital investment in a commercial enterprise in the United States; and
- Plan to create or preserve 10 permanent full-time jobs for qualified U.S. workers.
This program is also known as EB-5 for the name of the employment-based fifth preference visa. U.S. Congress created the EB-5 Program in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors.
In 1992, United States Congress created the Immigrant Investor Program, also known as the Regional Center Program, which sets aside EB-5 visas for participants who invest in commercial enterprises associated with regional centers approved by USCIS based on proposals for promoting economic growth. Source: USCIS.gov
EB-5 Visa minimum investment amount
As of publishing the article
A targeted employment area (TEA) can be, at the time of investment, either:
- A rural area
A rural area is any area other than an area within a metropolitan statistical area (MSA) (as designated by the Office of Management and Budget) or within the outer boundary of any city or town having a population of 20,000 or more according to the most recent decennial census of the United States.
- An area that has experienced high unemployment (defined as at least 150% of the national average unemployment rate).
A high-unemployment area consists of the census tract or contiguous census tracts in which the new commercial enterprise is principally doing business, which may include any or all directly adjacent census tracts if the weighted average unemployment for the specified area based on the labor force employment measure for each tract is 150% of the national unemployment average. Source: USCIS.gov
Who qualifies for EB-5 Visa?
EB-5 Visa requirements?
- EB-5 required minimum investment amount: $1,050,000 capital investment in a standard investment project area(non-TEA); OR an $800,000 capital investment in a rural area, high unemployment area, or an infrastructure project (TEA)
- The investment must be made in a for-profit U.S. commercial enterprise.
- The investment must create 10 full-time U.S. jobs within the first two years.
- The investment funds must be at risk: meaning that the funds must actually be invested
- The investor must show a lawful source of investment funds.
- To be eligible for the EB-5 Visa, you need to either make a direct investment or invest in a regional center. Direct investment occurs when you put money into a business that will create jobs; these newly created positions are known as “direct” or operational jobs. Regional centers are nominated by the USCIS, to accumulate EB-5 investment funds from multiple investors.
How much does an EB-5 visa cost
EB-5 Visa Cost:
- The fee to file an I-526 application – $3,675.
- The fee to file form I-485 (Adjustment of status) is in the below chart
- The Form I-829 application filing fee costs $3,750 and requires an additional biometric processing fee of $85.
- Immigration Attorney Fees (if any)
- Administration Fee for Regional Center (f you take this route). This could be ranging from 50,000 to 70,000USD.
- EB-5 Business Plan: If you opt for direct investment, then you are required to submit the EB-5 business plan while filing your I-526. The EB-5 business plan usually costs $3,500-4000. If you opt to invest in the regional centers (Targeted Employment Area), the regional center itself will provide you with the business plan and all the other required project documents.
- Translation of documents and any other miscellaneous fees like shipping costs
EB-5 Visa process
Here is an overview of the EB-5 petition and application process for immigrating to the United States.
- File Form I-526, Immigrant Petition by Investor, or Form I-526E, Immigrant Petition by Regional Center Investor with USCIS.
If an immigrant visa is immediately available to you, you may file Form I-485, Application to Register Permanent Residence or Adjust Status, together with your Form I-526 or Form I-526E, while your Form I-526 or Form I-526E is pending, or after your Form I-526 or Form I-526E is approved.
2. After USCIS approves your Form I-526 or Form I-526E petition, either:
- File DS-260, Application for Immigrant Visa and Alien Registration, with the U.S. Department of State to apply for an EB-5 visa abroad to seek admission to the United States; OR
- File Form I-485, Application to Register Permanent Residence or Adjust Status, with USCIS to adjust status to a conditional permanent resident within the United States. Once USCIS approves your Form I-485 application or upon admission into the United States with an EB-5 immigrant visa, USCIS will grant conditional permanent residence to the EB-5 investor and derivative family members for a two-year period.
3. File Form I-829, Petition by Investor to Remove Conditions on Permanent Resident Status, within the 90-day period immediately before the second anniversary of your adjustment of status or admission to the United States as a conditional permanent resident.
- If USCIS approves this petition, they will remove the conditions from your lawful permanent resident status and from that of any dependents you included.
EB-5 Visa processing time
How long to get EB-5 Visa?
please check the following link from USCIS https://egov.uscis.gov/processing-times/ for the official processing times.
EB-5 visa versus E2 Visa
The E-2 visa is a nonimmigrant visa that allows a national of a treaty country to be admitted to the United States when investing a substantial amount of capital in a US business. Certain employees of such a person or of a qualifying organization may also be eligible for this visa. you can click on the following link to learn more about the E2 Visa.
Whereas the EB-5 visa also known as an Immigrant Investor Program is an immigrant visa with the intent to become a permanent resident of the US.
Is EB-5 Visa a green card
Is EB-5 Visa permanent residency?
The EB5 visa is not a green card. Once your Form I526 is approved for an EB5 visa, you would then have to submit Form I485 for adjustment of status. Once I485 is approved you would then get a green card (Note: If an immigrant visa is immediately available to you, you may file Form I-485, Application to Register Permanent Residence or Adjust Status, together with your Form I-526 or Form I-526E, while your Form I-526 or Form I-526E is pending, or after your Form I-526 or Form I-526E is approved)
Can you work on EB-5 Visa
Your I526 needs to be approved and you must have at least a conditional green card that typically lasts for two years. if not then you will need a work visa, such as an H-1B (one that serves dual intent) to work in the US, even if you have filed an EB-5 application.
Can I take a loan for EB-5 Visa
Yes, but your loan must be secured by an asset, and the value of securing asset must be equal to or greater than the loan amount. Also, if you are the EB-5 investor the loan must be in your name i.e you must be the principal borrower.
How long does EB-5 Visa last
Once your I485 is approved or you enter the country on a valid EB-5 visa, you are officially a conditional permanent resident. Your conditional permanent residency will be for 2 years.
File Form I-829, Petition by Investor to Remove Conditions on Permanent Resident Status, within the 90-day period immediately before the second anniversary of your adjustment of status or admission to the United States as a conditional permanent resident.
- If USCIS approves this petition, they will remove the conditions from your lawful permanent resident status and from that of any dependents you included and issue 10 year Green card.
Conclusion
The EB-5 visa program is a highly effective way to stimulate the American economy. By investing in a business in the United States, foreign investors can create jobs and help to grow the economy. The program has been instrumental in creating new businesses and jobs, and it is clear that the EB 5 visa program is a valuable tool for economic growth.
The EB-5 visa program is also a very stable investment. The program has been in place since 1990, and it has been consistently renewed by Congress. This stability is an important factor for investors, who want to be confident that their investment will be secure.
The EB-5 visa program is a win-win for both investors and the United States. Investors get a chance to create jobs and grow the economy, while the United States gets an influx of new businesses and jobs. The EB-5 visa program is a valuable tool for economic growth, and if you are interested in the program consult with an experienced immigration attorney who is knowledgeable in the EB-5 category.
