EB-5 Immigrant Investor Program

Our immigration attorneys also assist clients in successfully gaining U.S. citizenship through investment in the EB-5 Immigrant Investor Program.

Overview
In 1990, Congress created an employment-based visa program in order to strengthen the U.S. economy through job creation within specifically defined geographical areas of the U.S. and capital investment by foreign investors. This program allows individuals and their immediate family members to live permanently in the U.S. (i.e., obtain a green card) by investing a certain amount of money in a commercial enterprise. In order to obtain an investor visa, one must invest at least $500,000 if the investment is within a rural or high unemployment area. Otherwise, the individual must invest at least $1,000,000.
The immigrant investor and his/her family members are then issued a “conditional green card,” and may permanently reside in the U.S. After two (2) years, the conditional status is removed upon a showing that the investment created at least ten (10) full-time jobs for U.S. workers. As a result, “unconditional” or permanent green cards are issued. After another three (3) years, the immigrant investor may begin the application for citizenship.
Every year, Congress allocates 10,000 visas under the investor visa category.

Benefits
The EB-5 Program provides numerous benefits, including, but not limited to:

• All LPR’s (legal permanent residents) enjoy the same benefits as every other U.S. resident;
• Any member of your immediate family (e.g., your spouse and any child under the age of 21) may enter the U.S. at any time and stay as long as he or she wishes;
• Investors have constant and easy access to the U.S. for personal, trade and business purposes;
• LPR’s travel to the U.S. without the need of a visa. Investors may work, live, or own their own proprietary businesses anywhere in the U.S.;
• Children may attend college/university at U.S. resident costs. Further, as a resident, the investor may benefit from lower tuition costs;
• The investor may bring other family members to the U.S.
• Citizenship after five (5) years;
• The permanent residency does not require renewal nor re-application; and,
• The investor does not need a family member or employer to sponsor him or her.

Requirements
In order to become eligible, specific investment criteria must be met. The investor must confirm that an investment has been made in a qualified commercial enterprise. Furthermore, the ten (10) jobs created by the investment must be permanent, full‐time and employ U.S. citizens (35 hours per week minimum; and, W‐2 employees, not 1099 independent contractors).

Furthermore, all investors in the program must pass rigorous screening checks regarding their personal backgrounds and financial sources. Investor capital must be entirely at-risk for the duration of the investment (the statute requires a minimum of two years (2) for permanent visa consideration). Furthermore, the investor must have legally acquired the funds invested, including being in legal immigration status if the funds are earned or acquired in the U.S.

Finally, the investor must be involved in the management of the new commercial enterprise. He or she can either be involved in the day-to-day managerial control of the enterprise, or be a limited partner.

Regional Centers
In 1993, Congress launched a separate EB-5 investor program in order to simply the investor program for foreign investors and to further facilitate the attraction of foreign capital to the U.S. and creation of jobs for U.S. workers in the process. Under the Regional Center Program, Congress allocates 3,000 visas each year for foreign investors who invest the requisite amount of capital in “designated regional centers.” The USCIS has designated over fifteen (15) different regional centers across the U.S.

Regional Centers are managed by independent investment firms that gather investments into rural areas of high unemployment. Investment companies manage the funds and provide the information needed to establish ten (10) full-time jobs at the time the foreign investor applies for a permanent green card. The company in which the investor invests his or her money is not required to employ ten (10) U.S. workers itself. Rather, it is sufficient if at least ten (10) full-time jobs are created indirectly or directly as a result of the investment. The foreign investor is not required to live within the Regional Center, but rather, can choose to reside anywhere in the U.S. Further, it is not necessary for the investor to run the business.

The capital investment requirement for any EB-5 investor, inside or outside a Regional Center, is $1,000.000. The capital investment requirement for an EB-5 investor in a Targeted Employment Area (TEA) or a Rural Area (RA) is $500,000.

The Regional Center Program differs from the regular EB-5 stipulations in that it allows both private and governmental agencies to be certified as regional centers if they meet particular criteria. Due to the added indirect job-creation factor, many foreign investors favor investing in a regional center rather than creating their own company.

Forms
Obtaining Status as a Contidional Resident

Once the Form I-526 (Immigrant Petition by Alien Entrepreneur) is approved, immigrant investors may obtain status as a conditional resident by filing the Form I-485 (Application to Register Permanent Residence or Adjust Status), if residing within the U.S.

Becoming a Permanent Resident Based on Investment
In order to become a lawful permanent resident, eligible investors must file a Form I-829 (Petition by Entrepreneur to Remove Conditions). Form I-829 must be filed within ninety (90) days before the second anniversary of an Alien Investor’s admission to the U.S. as a conditional resident.

Questions

For more specific inquiries, please contact us via telephone or e-mail.