EB-5 Visa Program
The EB-5 visa program was created by Congress in 1990 under section 203(b)(5) of the Immigration and Nationality Act (INA). Ten thousand EB-5 visas per year are allocated to qualified individuals seeking Lawful Permanent Resident (LPR) status on the basis of their capital investment and creation of at least ten full-time jobs for qualified workers in the United States.
EB-5 investors may be eligible for EB-5 immigrant visas if they have invested or are actively in the process of investing the standard capital investment requirement of $1,000,000 or $500,000 in Targeted Employment Areas (TEA) and/or Rural Areas (RA). EB- 5 investors may invest in a new commercial enterprise or choose to reinvigorate a troubled business.
Acquiring Lawful Permanent Resident (LPR) through the EB-5 program is a three-step self-petitioning process:
- Investors must obtain approval of their Form-526(Petition for an Alien Entrepreneur).
- Investors must then either file an I-485 Adjustment of Status if they are in the United States, or apply for immigrant visa at a United States embassy or consulate outside of the United States. Following approval, investors and their derivative family members are granted two-year “Conditional” Green Cards upon entry into the United States.
- Investors must file a FormI-829 Petition by an Entrepreneur to Remove Conditions 90 days prior to the two-year anniversary of the “Conditional” Green Card. If this petition is approved by USCIS, a Permanent Green Card will be issued.