How to Apply
Investors can obtain complete guidance in navigating through the EB-5 immigration and investment process by collaborating with a knowledgeable Regional Center such as EB5Help.
There are five general steps that investors must complete to become U.S. permanent residents through the EB-5 visa program.
Step 1 – Selecting the right EB-5 project to invest in
The EB-5 applicant must first find a suitable project which they believe will meet the program requirements, especially if they are interested in the faster processing offered by expedited approval and rural premium processing.
When selecting an EB-5 eligible investment, consider these two desired outcomes: Green Cards, and return of capital. The first relates to likelihood of immigration benefits, the second relates to likelihood of having your capital returned in a timely manner.
A regional center can help in this regard by performing the upfront due diligence on the project for both the outcomes before presenting the opportunity to EB-5 investors.
Expected Investment Amount
The EB-5 visa program necessitates every applicant to invest either $1,050,000 or $800,000 in an EB-5 project. The investment requirement can be reduced to $800,000 if the project is situated within a Targeted Employment Area (TEA).
How many jobs need to be created?
Creating a minimum of ten jobs with the investment is a crucial requirement for obtaining the EB-5 visa. The funds must be dedicated to a New Commercial Enterprise (NCE) that fosters job creation. While one job must be direct, the other nine jobs can be indirect.
While a direct investment with the developer can only count the “direct” jobs created, investing with a Regional Center Program enables investments to count indirect jobs towards the total job creation, which is why most EB-5 applications are processed through this program.
Source of Funds
Investors are required to provide evidence that their invested capital and fees were lawfully obtained. The funds for EB-5 investment can be derived from various sources, including earned income, asset sales, gifts or loans. The investor and immigration attorney handle this aspect of the EB-5 process directly.
In order to ensure that investor application has a high degree of success, EB5Help requires a validation done by qualified EB5 immigration lawyer to certify that investors have the required amount of funds at their disposal, the funds are lawfully obtained, and the investor meets the definition of an accredited investor.
Step 2 Fund the Investment
To fund their investment, an EB-5 investor typically transfers their capital to an escrow account established by the New Commercial Enterprise (LLC created by the Regional Center specific to a project).
EB-5 investors can fund their investment in a variety of ways, including cash, real estate, or other assets. They must be able to demonstrate that the funds were obtained through lawful means, and they are subject to rigorous due diligence and source of funds verification by the USCIS.
Step 3 File the EB-5 Petition (Form I-526E)
Once a project is selected, the next step of the EB-5 process involves submitting the EB-5 petition, also referred to as Form I-526E. This document is evidence that the investor is in the process of investing in a qualifying project under the EB-5 Program. The application for EB-5 may include the primary applicant, their spouse, and any unmarried children who are under 21 years of age.
FAQs
Concurrent Filings and Adjustment of Status (Form I-526E and Form I-485)
The EB-5 Program permits non-immigrant visa holders residing in the United States to simultaneously apply for an adjustment of status when submitting their I-526E petitions, which is referred to as “concurrent filing.” This allows EB-5 applicants to remain in the US and obtain authorization for work and travel while their I-526E petitions are under review by the USCIS, and avoids the need for consular visa processing. Additionally, it can help lock in the age of the principal applicant’s children, as they become ineligible for immigration benefits once they turn 21.
However, individuals from countries experiencing visa retrogression are ineligible for concurrent filing, as a visa must be immediately available in their country of birth as listed in the monthly Visa Bulletin published by USCIS.
Priority Dates, Processing Times, and Visa Availability
The priority date refers to the date an EB-5 investor files their petition with the USCIS, and processing times for I-526E petitions can range from about two to four years. The processing order of I-526E petitions depends on the availability of visas, with petitions from countries with available visas given higher priority. The monthly Visa Bulletin from the Department of State lists the cut-off dates that determine visa availability, and applicants whose priority dates are before the published cut-off date are eligible to apply for permanent residence.
Step 4 – Consulate interview and Conditional Residency
If the foreign investor is living outside the USA, the next step is to attend a consulate interview at a U.S. embassy or consulate in the investor’s home country after their I-526E approval.
The EB-5 interview primarily serves to verify the supporting documentation provided in the initial petition and to confirm that the investor does not fall under any grounds of inadmissibility. Once the interview is completed, the investor will receive the EB-5 visa stamped in their passport, and they will have a six-month window to relocate to the United States. Once they arrive in the US, the investor and any dependent family members listed on the EB-5 application will be issued conditional green cards.
Investors who are already lawfully residing in the US can forego the interview process and instead opt to file for an adjustment of status.
Maintaining the Conditional Green Card
The conditional green card allows the investor to reside in the United States for a period of two years, during which their physical presence in the country is mandatory. Although investors can travel outside of the US during this time, there are some restrictions that they must be aware of. To gain a better understanding of these limitations, investors are advised to consult with their immigration lawyer.
Per current USCIS policy, every EB-5 investor is required to maintain their funds “at-risk” through the completion of their two-year conditional residence period (or sustainment period). An investor is eligible to receive a return of their capital upon the completion of their sustainment period. Return of capital is subject to the project’s ability to repay the investment amount.
Step 5 – Obtain the Permanent Green Card
The last phase of the EB-5 process involves submitting a Form I-829 to remove the conditions on the investor’s Green Card. This petition must be filed in the last 90 days of the conditional residency period and should provide evidence that the investor has satisfied the criteria set forth by the EB-5 program. Upon approval, the investor and their family will be issued permanent Green Cards, which can be renewed every ten years prior to the expiration date.