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Foreign investors may qualify for a Green Card granting them permanent residence in the Unites States through a $900,000 investment. The investment must be made in a for-profit commercial enterprise which creates or retains a specific number of jobs.
In November 2019 the USCIS raised the minimum investment amount from $1 million to $1.8 million, but this figure is halved if the investment is made in a Targeted Employment Area (TEA) as designated by the United States Citizenship and Immigration Services (USCIS).
An EB-5 investment permits foreign nationals to live anywhere in the United States without having to set up or manage a U.S. business themselves. EB-5 holders have the flexibility to choose to engage in a separate business activity, seek employment, or simply retire in the USA.
Originally the EB-5 regulations required that investments be made in rural areas or regions with an unemployment rate more than 150% of the national average, known as Targeted Unemployment Areas.
Most immigrant investors who use the EB-5 program choose to invest in a TEA since this lowers the investment threshold to $900,000 (from $1.8 million).
There is no centralized list of targeted employment areas, however some states including California, Florida, and Washington maintain lists of TEAs.
A commercial entity may be designated as a Regional Center by USCIS. This entity permits foreign nationals to invest in its development while qualifying them for permanent residence status.
Regional Centers are intended to promote economic growth, regional productivity, and create jobs through investment.
Each Regional Center may set up limited partnerships, each with their own business activities. Foreign investors who wish to obtain a green card can become limited partners in the Regional Center by investing $900,000 in the project.
The Regional Center must demonstrate that the new commercial enterprise has created at least 10 new jobs per investor.
Foreign nationals who wish to apply for the EB-5 visa must be able to prove that the funds they intend to invest were obtained through legitimate means. This might be from employment, other investments, inheritance or from a gift. USCIS will usually expect each applicant to provide tax returns and documentation to demonstrate how the funds were obtained.
The Ram Law Firm has assisted many clients with their Immigrant Petition by Alien Entrepreneur also known as the I-526 petition.
Once the investment has been made and the I-526 petition is prepared and submitted to USCIS, all the relevant information related to the investment project will be provided to the The Ram Law Firm by the Regional Center.
Adjudication of the I-526 petition typically takes a little over 2 years, although the processing time can vary from one Regional Center to another.
For more details on the process or to consult with one of our experienced EB-5 attorneys please contact us today.
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Our team of professionals are readily available to help you. To discuss the specifics of your case, please request a consultation with one of our experienced attorneys using the form below. A representative will be in touch to schedule your consultation.