EB5 Green Card
EB5 Green Card
Foreign nationals who invest under the EB5 green card category can obtain permanent resident status in the United States by through a qualified investment. Also, the applicant’s spouse and children under the age of 21 will be eligible for green cards as well.
The applicant can obtain a green card under the EB-5 category by investing USD$500,000 into a project (i.e. a business or real estate development project) that is managed or affiliated with a government authorized Regional Center.
The applicant and his accompanying family will obtain conditional green cards within approximately 2-3 years (or more) after making the investment and filing the green card petition. Two years after the conditional green cards have been issued, the applicant will need to file a petition evidencing that (a) 10 full-time jobs for U.S. citizens or permanent residents have been created as a direct or indirect result of his/her USD$500,000 investment or (b) the area in which the Regional Center/project is located has benefited economically as a direct or indirect result of the investment. If this standard has been met, the condition on the green cards will be removed. If the standard has not been met, the green cards will be withdrawn.
Step 1: Investment
The applicant will first need to wire the investment funds and Regional Center administrative fees into the Regional Center’s account.
Step 2: File I-526 Petition
The I-526 petition is a petition that EB-5 green card applicants must file with the United States Citizenship and Immigration Services (‘USCIS’). The purpose is to provide evidence that the EB-5 green card applicant has in fact dedicated at least $500,000 USD to a qualifying Regional Center, that the funds invested have been accrued from lawful sources, and have entered into an arrangement with a Regional Center that qualifies the applicant for a green card pursuant to the EB-5 classification.
Step 3: Approval of I-526 Petition and Filing Green Card
Once the I-526 petition has been approved, the investor will need to file the Green Card Application.
Step 4: Green Card Approval
Once the Green Card Application is approved, the applicant and his qualifying family members will obtain their conditional green cards. As green card holders the applicant and his family will enjoy most of the rights United States citizens enjoy -- they will be permitted to reside in the United States indefinitely, obtain employment without having to get a work visa.
Step 5: Removal of Condition on Green Card
Approximately two years after the green cards have been issued, our firm will receive a notice to file an I-829 petition to remove the conditions on the green card. The I-829 will need to evidence that (a) 10 full-time jobs for U.S. citizens or permanent residents have been created as a direct or indirect result of the applicant’s investment or (b) the area in which the Regional Center/project is located has benefited economically as a direct or indirect result of the applicant’s investment. If this standard has been met, the condition on the green cards will be removed. If the standard has not been met, the green cards will be withdrawn. Finally, the project will return your investment of $500,000 in full after the I-829 has been approved.
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