The EB-5 visa is a U.S. immigrant investor program that provides a pathway to lawful permanent residency (commonly known as a green card) for foreign nationals who invest a significant amount of money in a new commercial enterprise that creates jobs for U.S. workers. The EB-5 program is administered by the United States Citizenship and Immigration Services (USCIS).
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To qualify for the EB-5 visa, an individual must meet certain requirements:
- Investment amount: The investor must invest at least $1.8 million in a new commercial enterprise. However, if the investment is made in a Targeted Employment Area (TEA), which is either a high-unemployment area or a rural area, the minimum investment amount is reduced to $900,000.
- Job creation: The investment must create or preserve a minimum of 10 full-time jobs for qualifying U.S. workers within two years of the investor’s admission to the U.S. as a conditional permanent resident.
- Active involvement: While the EB-5 program is often referred to as a passive investment, the investor must still play an active role in the enterprise, either through policy formation, day-to-day management, or through direct management decisions.
- Lawful source of funds: The investor must demonstrate that the funds used for the investment were legally obtained.
The EB-5 visa process generally involves two stages. Initially, the investor and their eligible family members are granted conditional permanent residency for a two-year period. After fulfilling the job creation requirements and other conditions, the investor may apply to have the conditions removed, leading to permanent residency.
The EB-5 program has been designed to attract foreign capital to stimulate the U.S. economy and create jobs. It is essential to work with qualified immigration attorneys and investment professionals to navigate the complexities of the program successfully. As with any visa program, eligibility criteria, regulations, and investment requirements are subject to change, so it is important to refer to the latest information provided by the USCIS or consult with an immigration expert.
Who is eligible for EB-5 Immigrant Investor visa?
The general eligibility requirements for the EB-5 Immigrant Investor visa are as follows:
- Investment amount: The investor must invest at least $1.8 million in a new commercial enterprise. However, if the investment is made in a Targeted Employment Area (TEA), which is either a high-unemployment area or a rural area, the minimum investment amount is reduced to $900,000.
- New Commercial Enterprise: The investment must be made in a new commercial enterprise, which is generally a for-profit entity formed after November 29, 1990. There are certain exceptions for troubled businesses, but they must meet specific criteria.
- Job creation: The investment must create or preserve at least 10 full-time jobs for qualifying U.S. workers within two years of the investor’s admission to the U.S. as a conditional permanent resident.
- Active involvement: The investor must be involved in the day-to-day management or policy formation of the new commercial enterprise. Alternatively, if investing through a Regional Center (an entity approved by the USCIS for EB-5 projects), the investor can take a more passive role.
- Lawful source of funds: The investor must demonstrate that the investment funds were obtained legally. This requires providing clear documentation tracing the source of the funds.
- Admissibility: The investor and accompanying family members must be admissible to the United States. This means they should not have any significant criminal record or immigration violations that would disqualify them from obtaining a visa.
It’s important to note that the information provided is based on the regulations and requirements as of September 2021, and the EB-5 program might have undergone changes or updates since then. Therefore, it’s advisable to refer to the official USCIS website or consult with an experienced immigration attorney for the most current and accurate information about the EB-5 Immigrant Investor visa program.
How much does it cost to apply for an EB-5 visa?
The cost of applying for an EB-5 visa can vary significantly depending on various factors, including the applicant’s location, the complexity of the investment, legal fees, and other related expenses. Here are some of the primary costs involved in the EB-5 visa application process:
- Investment Amount: The minimum required investment for the EB-5 program is $1.8 million. If the investment is made in a Targeted Employment Area (TEA), the minimum investment is reduced to $900,000. In addition to the investment amount, there may be additional costs associated with the investment project itself.
- Regional Center Fees: If the investor chooses to invest through an EB-5 Regional Center, they may be required to pay administrative fees or charges levied by the Regional Center.
- Legal Fees: It is highly recommended to work with an experienced immigration attorney to guide you through the EB-5 application process. Attorney fees can vary depending on the complexity of the case and the specific services provided.
- Filing Fees: The USCIS requires filing fees for the EB-5 visa application and related forms. As of my last knowledge update in September 2021, the Form I-526 (Immigrant Petition by Alien Investor) had a filing fee of $3,675, and the Form I-829 (Petition by Entrepreneur to Remove Conditions) had a filing fee of $3,750.
- Regional Center Project Fees: If investing through a Regional Center, some projects may have fees associated with their investment offerings. These fees can vary depending on the project.
- Source of Funds Verification: Investors need to demonstrate the lawful source of their investment funds. The costs associated with obtaining necessary documents and verification of the source of funds can vary.
- Immigration Medical Examination: Applicants are required to undergo a medical examination by an authorized civil surgeon, and the cost of this examination may vary.
- Adjustment of Status or Consular Processing Fees: If an applicant is already in the U.S. and is applying for a green card through adjustment of status, there will be additional USCIS fees. If they are applying from outside the U.S. and require consular processing, there will be fees for that process as well.
It’s important to note that these costs are subject to change, and it’s always a good idea to check the official USCIS website or consult with an immigration attorney for the most up-to-date information on fees and costs associated with the EB-5 visa application process. Additionally, applicants should be prepared for miscellaneous expenses related to document translations, travel, and other incidentals during the application process.
