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Here are the quick and easy to read steps for applying for an EB-5 green card. EB-5 green cards are a popular way for high-net worth foreign nationals to immigrate to the United States with their immediate family members.
Overview of the EB-5 Program
The EB-5 Program was created by Congress in 1990 as a way to stimulate the US economy through foreign capital investment and job creation. Foreign nationals who invest a minimum of $900,000 in a job-creating new commercial enterprise can become eligible for green cards for themselves, their spouses and their unmarried children under the age of 21 years.
There are two different EB-5 paths an interested investor can take. Which pathway an EB-5 investor will select depends heavily on how actively they want to be involved in the operations of the new commercial enterprise. The EB-5 Direct Investment Program requires an EB-5 investor to take an active involvement in the management and operations, while the Regional Center Program does not. The Regional Center Program is the more popular program of the two for foreign investors.
Read more about the Direct Investment Program and the Regional Center Program.
Filing the I-526 Petition
The I-526 Immigrant Petition by Alien Investor is the first form filed by an investor. An EB-5 immigration attorney will file this form on an investor’s behalf. This form is to establish that a foreign national meets the EB-5 Program eligibility requirements. These requirements include:
-The required capital has been or is in the process of being invested into the qualified new commercial enterprise (NCE)
-The capital for the investment came from lawful sources
-The investor will be credited with the creation of 10 full time jobs for US workers
-The investor will engage in management of the NCE
How to Qualify for the Lower Capital Investment Threshold
Applicants of the EB-5 Direct Investment Program and the Regional Center Program can both qualify for the lower minimum investment amount of $900,000 by investing in a qualified targeted employment area (TEA). Non-TEA investments require a capital investment of $1.8 million. Targeted employment areas are rural or high unemployment areas designated by the US Department of Homeland Security.
Receiving a Priority Date
An investor’s priority date is USCIS’s receipt date for the petition. The priority date is important for the investor’s from visa backlogged countries Mainland China, India and Vietnam, as their priority date must be earlier than the final action dates listed on the visa bulletin in order to continue the EB-5 process. All other countries are “C” or current on the visa bulletin and therefore can continue on in the process without delay.
A new press released from USCIS states that there will be a change to how I-526 petitions are processed. These petitions will no longer be processed on a first-in, first-out basis, but on a visa availability approach. This means that countries that are oversubscribed will see delays, while undersubscribed visa countries will be given priority processing and therefore potentially faster I-526 petition approval.
Paying Fees and Waiting for a Visa to Become Available
After an applicant receives I-526 petition approval from USCIS their application is then sent to the National Visa Center (NVC). An EB-5 investor will need to pay appropriate fees, submit relevant immigration documents, and then they must wait for a visa to become available.
Who Can Receive Visas?
The EB-5 applicant’s spouse and unmarried children under the age of 21 years may also qualify for conditional permanent residency (EB-5 green card status) under the principal investor’s application.
Visa Interview
Once the National Visa Office (NVC) has everything it needs (documents and fees) and a visa is available, the NVC will schedule an interview for the EB-5 applicant at an US Embassy or Consulate. Finger prints will be taken and a consulate official will determine if an EB-5 applicant is eligible for a immigrant visa under US law.
How Long Is the Process?
The process length depends on the individual investor as well as their country of origin. Some EB-5 investor cases may be more complex than others and may take more time to build. Errors or omissions on the application can also result in denials or delays. Consult with an experienced EB-5 immigration attorney to learn more about your particular case.
Additionally, the USCIS change to the EB-5 visa availability approach, which will go into effect March 31, 2020, may potentially speed up I-526 approval times for EB-5 investors from underrepresented countries. Fill out our free EB-5 evaluation below to learn more about how this may affect your application.
Entering the United States and the Benefits of Becoming a Lawful Permanent Resident
Once you have been mailed your Conditional Permanent Residency Card an EB-5 investor can travel and request entry into the US.
A few benefits of an EB-5 green card may include:
- Easier international travel
- Reduced in-state university tuition rates
- No job restrictions or employer sponsorship requirements
- Living in a stable government and political environment
- More investment opportunities
- Eligibility for US citizenship after 5 years
Read about more benefits here.
Key EB-5 Resources
Find the list of USCIS designated EB-5 Regional Centers with links to their websites.
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