The EB-5 visa is a visa category for those who place $1 million or more in a U.S.-based investment that will create at least ten new jobs for U.S.-based workers, or for those who invest at least $500,000 in specified rural areas or areas where unemployment is at least 150% of the national average.
EB-5 visas are capped at 10,000 per year. There are two ways to receive an immigrant visa followed by permanent legal status through EB-5 program: 1) Consular processing abroad or 2) Adjustment of status if the person is legally present in the United States and did not enter for the sole purpose to adjust status.
EB5 consular processing
For those applying through a consular processing, after attending an interview an immigrant visa will be issued to enter the United States. Upon entry to the U.S., a green card will be issued to all qualified family members. For those adjusting status in the U.S., an I-485 form must be filed.
Upon approval of the Form I-485 application or upon entry into the United States with an EB-5 visa, the investor and his or her derivative family members will be granted conditional permanent residence for a two-year period.
At the end of the two years, if a sufficient number of jobs have been created and sustained by your investment and the project in which you invested is still in business, you may submit Form I-829 within 90 days of the second anniversary of your admission to the U.S., and a “permanent” green card will be issued to you and to your derivative family members. A “permanent” green card means that it will not be taken away unless a violation of immigration or other laws have taken place. The permanent green card will need to be renewed every 10 years while you are a legal permanent resident or until you become a citizen of the United States.
It is not recommended to acquire an EB-5 visa by yourself. In addition to the paperwork and red tape associated with obtaining any visa, a number of stringent financial requirements also must be satisfied, and with only 100,000 EB-5 visas available annually, you can’t afford any mistakes or misunderstandings. For the advice and services you will need as an EB-5 investor, contact an experienced Las Vegas immigration attorney at once. The requirements for EB-5 investment are:
– investing the required $500,000 or $1 million
– proving the investment funds are derived from a lawful and traceable source
– creating the required number of full-time, U.S. worker-occupied jobs
– proving that the investor is participating in the business
Approval times for EB-5 visas vary but the official current processing time is 14.5 months after the initial submission of the I-526 application, so it’s important to plan ahead and get started as early as you can.
For sound, trustworthy legal advice regarding investor visas or any other immigration-related legal matter, arrange as quickly as possible to consult with an experienced Las Vegas immigration attorney.