An EB-5 Visa is a United States Visa for Immigrant Investors that was created by the Immigration Act of 1990. The EB-5 visa permits a foreign national to obtain permanent residency in the United States. The EB-5 visa also enables the spouse of the visa holder and the unmarried children under the age of 21 to obtain permanent residency in the United States.
To qualify for an EB-5 Visa, individuals must invest $1,800,000.00, creating at least 10 jobs for U.S. workers or at least $900,000.00 in a “Targeted Employment Area” which is also known as the high unemployment area. The applicant must project that the funds used as investment for the EB-5 petition were earned in a lawful manner. The applicant must prove that all the investments were earned via lawful business, salary, investments, property sales, inheritance, gift, loan, or other lawful revenues.
Upon the approval of the Application, the applicant must then attend the visa interview at the U.S. Consulate abroad to confirm that both the applicant and the dependents go through a police, medical, security and immigration history background checks prior to being approved for conditional permanent residence.
Capital Investment Requirements
Petition Filing Date
Minimum Investment Amount – 8 CFR 204.6(f)(1).
Targeted Employment Area Investment Amount – 8 CFR 204.6(f)(2)
High-Employment Area Investment Amount – 8 CFR 204.6(f)(3)
On or After 11/21/2019
What is an EB-5 Visa?
An EB-5 Visa is a United States Visa for Immigrant Investors that was created by the Immigration Act of 1990. The EB-5 visa permits a foreign national to obtain permanent residency in the United States. Aside from marrying a U.S. Citizen, an EB-5 Visa is the fastest way to establish Permanent Residency in the United States.
Is there a limit on the EB-5 Visas?
- 10,000 visas granted every year with 3,000 set about for Targeted Employment Area (TEA)
What is a Targeted Employment Area?
- High unemployment area
Who qualifies for EB-5 Visa?
To qualify for EB-5 Visa, one must:
- Invest $1.8 Million and create 10 full time jobs for U.S. Workers OR $900,000 in “Targeted Employment Area” including Regional Centers.
- Create or save (10) full time jobs for U.S. workers in the United States for at least two (2) years
- Project that the funds used as investment for the EB-5 petition were earned in a lawful manner
- Prove that all the investments were earned via lawful business, salary, investments, property sales, inheritance, gift, loan, or other lawful revenues
- Establish a lawful business entity under the laws of the state jurisdiction to where the physical entity is located in the U.S and prove that he or she is actively partaking in the business.
What are the benefits of an EB-5 Visa?
- Fastest way to obtain Green Card without marrying a citizen
- Allows dependents to gain GC also
What is the Pilot Program and what are the requirements?
Pilot Program is an EB-5 that is invested in the Regional Center. Regional Center is an public or private economic entity which is involved in the advancement of the economic growth, improvement in the regional productivity, creating more jobs and increasing the domestic capital investment.
- When an individual applies for EB-5 in the Regional Center – To advance economic growth and expand job creation in “direct” and “indirect” jobs
- Same requirements as standard EB-5, EXCEPT the investment is $900,000 in the Regional Center.
- Must submit a tender that is supported by economically or statistically valid forecasting tools illustrating:
- the geographic region in the U.S. where the region center will focus and must explain how it will advance the economic growth in that region
- how jobs will be created directly or indirectly through capital investments made in the regional center
- the amount and source of capital being invested towards the regional center and promotional efforts planned for the business project
- how the business plan will have a positive effect on the regional economy or national economy.
- Investor MUST be able to prove that investment is made towards a new commercial enterprise located within an approved Regional Center and provide practical strategy to how 10 or more jobs will be created directly or indirectly by the new commercial enterprise through revenues generated from increased exports, regional productivity, job creation or increased domestic capital investment resulting from the pilot program.
What documents are necessary in order to apply for an EB-5 Visa?
Applicant will need to submit Form I-526, Immigrant Petition by Alien Entrepreneur to USCIS along with the documents such as:
- Filing fee
- Tax returns for the recent five years, bank account records, proof of ownership of any business, financial statements for each business along with business licenses
- Proof of U.S. entity establishment such as articles of incorporation, certificate of merger or consolidation, partnership agreement, joint venture agreement, business license, stock purchase agreements, investment agreements, certified financial reports, etc.
- Proof of investments or process of investment that is needed for a business such as copies of recent bank statements, evidence of assets that have been purchased for use in the U.S. enterprise, mortgages or loans, promissory notes, security agreement, or any other suitable evidence that the assets are securely in the applicant's possession.
- Proof of creating or securing ten full-time positions in the United States for U.S. workers or foreign nationals permitted to work in the U.S. under law. However, these jobs cannot be filled by the applicant or any of the dependents themselves. The individual must provide Form I-9, copies of tax returns or other supporting documents and
- Prove that the applicant will be involved with the management of the U.S. enterprise by providing a statement of job title and description, and proof that the applicant holds a position on the board of directors.
Does the applicant have to go to a U.S. Consulate for a visa?
Yes! Upon approval, the applicant is required to attend a visa interview at the U.S. Consulate to go through a police, medical, security and immigration history background check prior to being approved for conditional permanent residence. After the visa is cleared, the applicant will have six months to enter the U.S. as a lawful permanent resident. If the applicant is already in the U.S., then he or she will need to apply for Form I-485, Application for Adjustment of Status to Permanent Residence.
What happens after you get your Green Card through EB-5 Visa?
USCIS will usually grant the applicant two years of permanent residence. After which the applicant must submit an I-829, Petitioner by Entrepreneur to Remove Conditions. Once conditions are removed, Green Cards will be valid for next (10) years.
When can an EB-5 Visa holder become a U.S. Citizen?
After completing five (5) years of Permanent Residence in the U.S., the applicant may submit Form N-400, Application for Naturalization to become a U.S. Citizen. The applicant will be required to appear for an interview followed by an Oath Ceremony to be sworn as a U.S. Citizen.
EB-5 Regional Center Program Fully Reauthorized
On June 24, 2022, the U.S. District Court for the Northern District of California fully reauthorized the EB-5 Regional Center Program. Regional centers whose certification had been revoked by the United States Citizenship and Immigration Services (USCIS), can now resume operations, and accept new investors.
Foreign nationals can invest in EB-5 regional center projects and file Form I-526, the first step in the EB-5 immigration process. A significant benefit introduced in the EB-5 Reform and Integrity Act (RIA) of 2022 is reserved EB-5 visas and concurrent filing of Forms I-526 and I-485. The EB-5 RIA states that, each fiscal year, the Department of State must set aside 32% of the EB-5 visas for investors in TEAs and public infrastructure projects. Rural TEAs are allotted 20% of the EB-5 visas, high unemployment TEAs receive 10%, and infrastructure projects receive 2%.
Each participating country may not obtain more than 7% of the total visa supply each fiscal year. However, foreign nationals who invest in one of the reserved visa categories will be eligible for a visa as soon as their I-526 petitions are approved, even if their country has exceeded its annual limit.
EB-5 applicants who already reside in the country under a non-resident visa such s H-1B, F-1, E-2, T-N OR L-1, may use Form I-485 to adjust their immigrant status after making an EB-5 investment. Since Forms I-526 and I-485 may be filed concurrently, investors can live, work, and study in the United States before receiving their EB-5 visas.
The EB-5 Regional Center Program provides many benefits for EB-5 visa applicants. The Law Office of Keshab Raj Seadie is committed to helping investors immigrate to the United States as quickly as possible under the EB-5 visa category.