The EB-5 Visa is a green card petition for foreign investors with major funds. This immigrant visa intends to bring in foreign contributions to stimulate underserved areas of the United States. The program, introduced in 1990, serves to create jobs for Americans and boost the economy. To start, the applicant submits USCIS Form I-526E to USCIS, together with supporting documents.
There are two types of EB-5 cases.
- The first EB-5 category requires an investment of $800,000 in a Targeted Employment Area. Here, the applicant is investing in pre-approved regional centers looking for capital injections. The investment amount is lower here. However, the applicant has less work or responsibility, too, since the management of the regional center runs the project. The regional center provides a lot of supporting documentation for the applicant. The applicant primarily focuses on proving the source of funds for the investment and establishing their eligibility for a U.S. green card. This investment is passive.
- The second type of EB-5 visa is for direct investment in a new commercial enterprise in the U.S. (I.e. creating your own business in the US with at least $1,050,000 capital and creating 10+ jobs). The applicant may have other partners. To qualify for the EB-5 visa through actively running your own commercial enterprise, you need to prove to the USCIS that you actively manage the business and that your engagement level matches your percentage of ownership. EB-5 investors do not need to be the majority owner of the business they invest in. The EB-5 program does not require a minimum percentage of ownership, and investors can have a fractional equity stake.
In both EB-5 cases, applications are for green cards for the investor, their spouse, and children under 21.
Where can this money come from?
It’s crucial to demonstrate that the money invested flows from “clean” sources and lawfully belongs to the investor. The money for the investment must have credible paperwork. The applicant must own it, and prove the source of funds. In other words, if you cashed out from a sale of your real estate, we must document this when applying.
Another surprising fact about the EB-5 program is that the green cards granted upon initial USCIS approval are conditional or temporary for 2 years. You should show your continued investment and activity after 2 years to obtain a permanent resident status. This happens by filing USCIS Form I-829 to remove conditions on your status.
Is an EB-5 visa easy to get?
The EB-5 process is surprisingly complex and NOT easy to get approval for. It revolves not just around the investment but also around specific facts demonstrated by the applicant’s documents. The EB-5 application process involves many steps,from proving the source of funds to presenting a strong business plan. Additionally, proving that the applicant is a good candidate for United States permanent residence is essential. This highlights the complexity and potential challenges of the process. USCIS is very vigilant about vetting for investor green cards. This process has unfortunately been historically laden with attempted fraud.
What are the requirements for obtaining an EB-5 visa?
The process of applying for the EB-5 visa begins with filing Form I-526 with USCIS. Then, you submit supporting evidence for the application. Form I-526 as a two-part petition: one part pertains to the project (commercial enterprise or regional center) documents. The other has the investor’s personal details, including proof of how they obtained the investment funds.
- The Form I-526 is not enough as of its own. There should be a letter explaining the nature of the project, source of funds. It should also detail why the applicant is a good candidate for approval.
- The project documentation must include organizational documents. These documents may include articles of incorporation, partnership agreements, certificates of merger or consolidation, organizational structure (like staff charts with titles and salaries), and more.
- Proof of investment. This may include stock purchase agreements, investment agreements, and certified financial reports.
- Proof of lawful source of funds. This may include tax returns, employer letters, pension records, proof of sale of real estate or other assets belonging to the applicant, and/or supporting affidavits.
For a successful application, both parts of the I-526 petition must adhere to USCIS standards.
Are there other ways investors can get a U.S. green card?
There are multiple ways to get a U.S. green card, including through asylum and family unification petitions. Another route is through employment petitions for people with skills and education that the U.S. finds useful. Some employment categories allow self-petitioning without a US employer.
Another way to get a green card is to start with a nonimmigrant visa (for temporary stay in U.S.). This gives the opportunity to become a permanent resident.
There is also an annual Diversity Visa Lottery. Applicants from certain countries may win a chance for a green card.
What are the best 3 tips for winning your Investor Petition from a U.S. Immigration Lawyer:
Securing an EB-5 investor visa is a fantastic opportunity to gain U.S. residency while contributing to the economy. However, it requires careful planning and strategy. As experienced U.S. immigration lawyers, we offer these top three tips to help ensure your EB-5 investor petition is successful.
1. Choose the Right Project Carefully
Not all EB-5 projects are created equal. It’s crucial to invest in a project that not only qualifies under the EB-5 regulations but also has proven to be successful. Work with a reliable immigration attorney to vet your investment options. Choose a project that has high approval rates and a sound business plan. This can ensure your smooth path to a green card.
2. Proper Documentation Is Key
The right kinds of documents make or break EB-5 cases. The EB-5 process requires substantial documentation, from proving your lawful source of funds. Additionally, it requires demonstrating that your investment will create the necessary 10 full-time jobs. We ensure that all your paperwork is accurate, comprehensive, and organized to avoid delays or denials. Working with a seasoned attorney will help you navigate this complex process and present a solid case to USCIS.
3. Stay Up to Date on Regulatory Changes
The EB-5 program undergoes periodic changes, from investment thresholds to regional center guidelines. By staying informed, you can make smart decisions about your investment and avoid costly mistakes. Shepelsky Law Group regularly updates clients on any regulatory shifts. We can help you adjust your strategy to stay compliant with current laws.
These tips and work with an experienced immigration lawyer can maximize your chances of a successful EB-5 petition. This will help you move closer to securing U.S. residency for you and your family. Contact Shepelsky Law Group today to begin your journey!