HOW DOES THE EB-5 VISA PROGRAM WORK?
Are you a foreign investor interested in obtaining a green card in the United States?
If so, there are several visas that may be available to you, including the EB-5 Visa.
The reason why EB-5 visa is the most lucrative is because it is a visa which directly
leads to obtaining a green card in the least amount of time.
You can apply for an EB-5 Visa through direct investment or through a regional center. On March 15, 2022, President Biden signed into law the EB-5 Reform and Integrity Act. This Reform and Integrity Act made significant changes to the EB-5 Program governing both Direct and Regional Center investments. The most obvious change are the investment amounts, which are now $800,000 if investment is in a Targeted Employment Area (also known as “TEA”) and $1,050,000 in all other areas.
The U.S. Congress created the EB-5 program in 1990 to stimulate the U.S. economy through foreign investment. There are 10,000 visas designated to be issued under this program. This visa also allows investors to bring their spouses and unmarried children under 21 into the country as dependents.
The EB-5 program is administered by USCIS and requires applicants to invest in a commercial enterprise in the United States. It is also a requirement that they plan to create 10 permanent full-time jobs for qualified U.S. workers.
Contact the Law Offices of Alice Antonovsky today to evaluate your eligibility and start preparing your investor visa application.
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A “Regional Center” is an entity, organization or agency that has been approved by USCIS. They offer hundreds of different project opportunities, which range from real estate, casinos, ski resorts, manufacturing, agricultural developments, restaurants, sport stadiums, and many more.
By investing $800,000 into a regional center and financing a particular project, a person would be eligible to apply for the EB-5 Visa. It is also very important to highlight that the requirements for job creation and management rests on the shoulders of the project in which the investment was made and not on the Investor, as is the case with Direct Investment.
EB-5 applicants can choose to invest in a new enterprise or purchase an existing business. In this case, the minimum investment amount is $800,000 in certain “target areas” where unemployment rates are high, otherwise, the minimum investment is $1,050,000. In this type of investment, the enterprise must employ at least 10 full-time US citizens.
Regardless of which of the 2 paths an investor takes, an initial 2 year conditional residence is granted, at the expiration of which USCIS will evaluate your investment project to make sure all terms have been met and, if so, you will be able to obtain a 10 year permanent residence. After being a permanent residence for a total of five years, provided all other requirements have been satisfied, you and your family will be able to file for U.S. citizenship.
How to Apply for an EB-5 Visa
- Application for the EB-5 visa is very document specific and it is imperative to have your interests represented by a competent, experienced immigration attorney. Many applications are denied for lack of sufficient supporting evidence.
- Choosing to obtain permanent residence in the United States through the Immigrant Investor Program (EB-5) involves the investment of large sums of money, and therefore you want to make sure you have the right immigration attorney guiding you through this process.
- If you want your Investment Visa application to be approved, you need to have an experienced immigration attorney you can trust help you in achieving that goal. At the Law Offices of Alice Antonovsky, we can help you throughout the entire application process.
In cases where the case is prepared professionally, by an experienced attorney, approval rate is nearly 90%.
That is why it is imperative to work with an experienced attorney who will be able to guide you every step of the way in the is very convoluted process
The new EB-5 Reform and Integrity Act that was signed into law on March 15, 2022, made one very important and significant change to the EB-5 program, and that is, it allowed concurrent filing of Form I-485, Adjustment of Status application.
What that means is that those investors who are inside the United States and wish to obtain permanent residence through the investment program, no longer need to wait until their Form I-526 is approved in order to file for permanent residence, they can file simultaneously.
Can an EB-5 Investment be a loan？
A financial institution may loan an investor money in exchange for collateralized use of the investor’s assets for an B-5 investment. Nevertheless, the collaterals cannot be the same EB-5 assets that the EB-5 applicant invests in. The legality of the monies used to acquire the assets utilized as loan collateral must also be demonstrated to USCIS by the investor.
What is an EB5 visa?
For investors and businesspeople who want to work legally in the US, the EB5 visa is equivalent to a green card (permanent residency).
Can I apply for EB-5 while on H1b?
While employed in the country with a valid H1-b visa, the person may apply for an EB-5 visa. An I-485 petition can be submitted to change the applicant’s status so that they can become a conditional permanent residence if the I-526 petition is approved and a visa number is available while the H-1b visa holder is lawfully employed in the U.S.
Can I borrow money for an EB-5 visa application?
If the borrowed funds are secured by collateral provided by the applicant, they may be used as part of the EB-5 investment. When the donor can offer convincing proof of the source of the gifted monies, the money may also be validated for EB-5 purposes.
Can I get a loan for an EB-5 visa?
Prospective investors may be able to get bank loans in order to participate in the EB-5 program. However, the precise EB-5 business that the investor invests in cannot be used as security for the loan. Investors must also provide complete loan terms and condition documentation to USCIS.
How long does it take to get an EB-5 visa?
The EB-5 visa typically takes six months to process, and the initial petition and application are typically accepted within 60 days after filing. However, you will also need to wait for the Department of State and United States Citizenship and Immigration Services (“USCIS”) to schedule an interview.