All you need to know about the EB-5 Visa Program
EB-5 which is better known as Immigrant Investor Program was created in the Year 1990. Through this plan job creation and capital investment is encourage by foreign national to boost the U.S economy. The EB-5 Visa plan permits foreign nationals to obtain green card by making a substantial investment and creating 10 full time jobs for the U.S. workers. Foreign investors worldwide are participating in this program and the major investors are reported from China. To qualify for this plan, investors should at least invest $1,000,000 or $500,000 in a “Targeted Employment Area” – TEA i.e. a high unemployment or rural area.
EB-5 Regional Centers
The EB-5 investors have two main options for investments. The first one is they can either invest as in Individual or through the help of EB-5 regional center. The regional center options works best for people whose major interest lies in immigrating to the United States rather than getting the maximum return on their investment. The regional centers as a whole are responsible for holding to the USCIS EB-5 program rules and regulations. Nearly about 90% of the total EB-5 applicants invest through the regional centers.
Where to seek for EB-5 visa services?
There are many EB-5 visa service providers worldwide including the attorneys, accountants, investment consultants, lawyers and marketing professionals. But before contacting them, make sure about the type of services needed. Applicants need to clear whether they are investing in a running business or starting a new venture. An experienced EB5 visa service provider will have all the answers to the applicant’s queries and will guide them thoroughly and assist them in each and every step until a permanent residence is granted in United States.
How to proceed for the EB-5 visa application process?
Once the immigrant has confirmed about his investment and is approved by the CIS than for the next two year, he or she will be granted conditional residence status. After two year, if the immigrant is successful in proving that the investments has created 10 full time jobs than the conditional status of the immigrant gets rescind and he is granted the lawful permanent resident status. The EB-5 visa applicants should follow the three main steps to get the permanent residency in United States.
- Submit the I-526 petition to the USCIS that represents that the applicant has made investment and created 10 full time direct or indirect jobs for United States workers.
- On approval of the I-526 petition, the investor proceeds for submitting the conditional permanent resident application. This is done by filing an I-485- Application for adjustment of status or DS-230- Application for Immigrant Visa.
- At last the investor has to prove that all the EB-5 requirements are fulfilled at the end of the two year and this is done by filing the I-829 application to cancel the condition of residency.
- At last the investor, their spouse and their unmarried children (under the age of 21) are granted lawful permanent residency.