Is a popular option for foreign investors who are looking to live and work in the United States.
This program was created by the U.S. government to encourage foreign investment in the country and to create jobs for American workers.
In exchange for their investment, foreign investors can receive a Green Card, which gives them permanent residency in the United States.
The EB-5 visa is designed for individuals who are willing to invest a minimum of $1 million in a U.S. business, or $500,000 in a targeted employment area (TEA). A TEA is defined as a rural area or one that has experienced high unemployment. The investment must create at least 10 full-time jobs for U.S. workers within two years.
The EB-5 visa allows eligible investors to become permanent residents of the United States.
They can become Green Card holders by investing substantial capital to finance a U.S. business.
There are numerous EB-5 visa requirements we will review in depth.
On March 15, President Biden signed an EB-5 Reform and Integrity Act of 2022 that includes an EB-5 Regional Immigrant Investor Center Program authorization and several effective implementation dates for the program.
This program will be effective until September 30, 2027.
The USCIS manages the EB-5 Immigrant Investor Program. EB-5 visas, also known as Fifth Preference Work visas,
are Immigrant visas. This means that EB-5 visa applicants are granted a Green Card.
The Green Card allows them to live and work in the United States permanently. EB-5 Green Card applicants can also bring their spouses and unmarried children under the age of 21.
The first step in obtaining an EB-5 visa is to choose a qualifying commercial enterprise. This can be a new commercial enterprise that was established after Nov. 29, 1990, or an existing business that has been reorganized or expanded to meet the requirements of the EB-5 program.
The next step is to invest the required amount of capital into the chosen commercial enterprise. The minimum investment amount is $1.05 million, or $800,000 if the investment is made in a targeted employment area (TEA). The investment must be at-risk and actively managed by the investor.
Once the investment has been made, filing Form I-526 with USCIS is necessary to prove that the investment meets the EB-5 program requirements, including job creation for US workers.
If Form I-526 is approved, the next step is to obtain conditional permanent residency. This is typically done by filing Form I-485, Application to Register Permanent Residence or Adjust Status, or by consular processing if the investor is outside the U.S.
The final step is filing Form I-829 with USCIS within 90 days before the second anniversary of conditional residency. The form should show that the enterprise is established, investment is made, and 10 full-time jobs created for US workers.
An enterprise that has been in existence for at least two years and has incurred net losses during the 12- or 24-month
period preceding the priority date shown on the foreign investor’s Form I-526.
The losses for this period must be at least 20 percent of the net worth of the business before the loss. For purposes of determining whether the troubled business has been in existence for two years.
Successors in interest to the business will be considered to have been in business for the same period of time as the business to which they are successors.
A U.S. citizen, permanent resident, or other immigrant authorized to work in the United States. The person may be a
conditional resident, an asylee, a refugee, or a person residing in the United States under suspension of deportation.
This definition does not include an immigrant investor, his or her spouse, sons or daughters, or any foreign national in any nonimmigrant status (such as an H-1B visa holder) or who is not authorized to work in the United States.
Employment of a qualified employee by the new commercial enterprise in a position requiring a minimum of 35 hours of work per week.
In the case of the Regional Center Pilot Program, “full-time employment” also means employment of a qualified employee in a position that has been indirectly created and requires a minimum of 35 hours of work per week.
Is one in which two or more qualified employees share a full-time position that will count as full-time employment
provided the required weekly hours are completed.
This definition does not include combinations of part-time or full-time equivalent positions if even when combined, these positions comply with the hours per week required.
Jobs that are intermittent, temporary, seasonal, or transient in nature and do not qualify as full-time jobs.
However, jobs that are expected to last at least two years are generally not considered intermittent, temporary, seasonal, or transient in nature.