EB-5 Visa Overview
Eligibility Requirements
The EB-5 Immigrant Investor Program offers a pathway to U.S. permanent residency for those who invest in and engage with a new commercial enterprise that meets specific criteria. Here’s a detailed look at the eligibility requirements and process:
- Establishment of a Business: The investor must either establish a new commercial enterprise or invest in an existing enterprise that is being restructured or expanded in a way that creates new jobs.
- Active Involvement: The investor must be actively involved in the day-to-day operations of the enterprise, although daily management is not required.
- Investment Amount:
- General Requirement: A minimum investment of $1 million in the new enterprise is required.
- Targeted Employment Areas (TEAs): If the investment is in a designated TEA (a high-unemployment or rural area), the minimum investment is reduced to $800,000.
- Economic Benefit: The enterprise must benefit the U.S. economy by stimulating economic growth and providing a return on investment.
- Job Creation: The investment must create full-time jobs for at least 10 U.S. workers, excluding the investor and their family members.
Documents and Process
Conditional Permanent Residence
Upon approval of the initial EB-5 petition, investors and their immediate family members receive conditional permanent resident status for two years.
Form I-829
To remove the conditions on their residence, investors must file Form I-829 within the 90-day period before the second anniversary of their conditional residence. This form is used to demonstrate compliance with the EB-5 program requirements.
Evidence Required
Investors must provide evidence that they have met the investment amount, maintained their investment, created the required number of jobs, and that their enterprise has been operating as required.
Important Considerations
- Regional Centers: Many investors choose to invest through Regional Centers, USCIS-approved entities that pool investments to fund projects. This can simplify the job creation requirement, as the jobs can be indirect or induced rather than just direct.
- Due Diligence: Conduct thorough due diligence on the enterprise or Regional Center to avoid potential risks and ensure compliance with EB-5 requirements.
- Legal Advice: Given the complexity of the EB-5 program and the high stakes involved, it is highly recommended to consult with an immigration attorney specializing in EB-5 visas to navigate the application process and compliance requirements effectively.