What is the EB-5 Program?
The EB-5 Visa is the Immigrant Investor Program created by Congress in 1990. The purpose of EB-5 is to increase job creation and to increase capital investment by immigrant visitors. In return for investing in projects in the United States, an immigrant investor can gain lawful permanent residence for themselves and for their immediate family.
There are two basic requirements in order to be eligible to apply for EB-5. The first requirement is that the investor must make a capital investment of either $500,000 or $1,000,000 in a new business enterprise in the U.S. The second requirement is that the new business must create or preserve 10 full-time jobs for U.S. workers within two years of the investor’s admission to the United States.
The basic timeline to become a permanent resident through EB-5 is as follows:
1. Getting EB-5 Documents
In this step, investors must certify that they are an accredited investor or qualified purchaser. This step begins the investment process. Once approved, investors will receive EB-5 program documents.
2. Wiring Funds into an Escrow Account
In this step, investors wire their funds into a third party account also known as an escrow account. A third party on behalf of the transacting parties holds the escrow account. The escrow account holds the funds until completion of the transaction.
3. File Form I-526
The investor seeking citizenship files the I-526 to demonstrate they invested the required amount of capital or are currently in the process of investing.
4. Immigration Interview
After approval of the I-526 form, investors will interview with the U.S. embassy in their current country. If investors pass the interview, the United State will issue a green card.
5. File I-829
After living in the U.S. for 21 months, investors can file an I-829 demonstrating completion of the EB-5 requirements.
6. Permanent Resident
Once approved, the U.S. will remove investors’ green card, granting permanent residency to the investor.
If you are interested in the Immigrant Investor program, please contact us for a free consultation.