Eb5 Visa: Requirements and Best Practices in 2024

To get permanent resident status, often known as a Green Card, through the EB-5 program, investors must meet certain conditions established by the United States Citizenship and Immigration Services (USCIS).

This article discusses the requirements for obtaining permanent residency in the United States through the EB-5 program, as well as the rules and considerations for Targeted Employment Areas (TEAs), which have a lower investment amount and faster visa processing, and the various types of business entities that qualify for EB-5 investments.

It emphasizes the essential criteria that investors must meet, such as the investment amount, job creation standards, permissible legal sources of financing, such as loans, and other financial papers that can be employed.

This article makes guidelines and emphasizes the necessity of due diligence and expert guidance in ensuring compliance.

What is the EB-5 visa?

The EB-5 visa is an immigrant visa that allows investors, entrepreneurs, and anybody else to start a business in the United States.

To qualify for an EB-5 visa, you must spend at least $1,050,000 in a US business. If your investment is in an economically challenged location known as a “targeted employment area,” you may be able to invest $800,000 less.

In addition to investing the requisite amount, the funded company must create 10 full-time jobs for US workers.

The business must also be for-profit. Real estate investments and non-profit enterprises are not eligible for EB-5. To obtain an EB-5 visa, an investor might invest directly or through a regional center.

Regional centers are specialist companies that pool investment funds from various EB-5 investors to build large-scale projects like resorts or apartment complexes.

A direct investment is made outside of a regional center. Direct investments include starting your own business or purchasing an existing business.

The EB-5 visa is an immigrant visa classification, hence successful candidates will receive a green card. Your spouse and children can also obtain green cards through an EB-5 visa.

There are two primary processes for obtaining a green card through the EB-5 visa. You initially become a conditional permanent resident for two years.

After two years, you can remove the condition from your green card by demonstrating that you officially created ten jobs for US workers and that you kept your capital invested in US businesses for the entire term.

What are the Benefits of an EB-5 Visa?

• The EB-5 visa is an immigrant visa category; thus, if you are a successful EB-5 candidate, you will be able to obtain your green card and begin your journey to US citizenship.
• As an EB-5 investor, your spouse and unmarried children under the age of 21 may also qualify for green cards.
• Your kids can attend school in the United States.
• As an accepted EB-5 visa holder, you are not required to work for a sponsor company. You can work in any legitimate capacity.
• You can live and work anywhere in the United States.
• You can work in the United States without obtaining a special work permit.

What are the Requirements to get an EB-5 Visa?

To be eligible for an EB-5 visa:

• You need to invest in a “new commercial enterprise.”
• You must put at least $1,050,000 into the new commercial enterprise. (You may be eligible for a $800,000 tax break if the investment is in a “targeted employment area.”)
• The creation of at least ten full-time jobs for US workers must be the outcome of your investment.
• Your investment funds should be “at risk.”
• The funds for your investment must have been legally obtained.
• You must be involved in the management of the new commercial enterprise.

Follow this step-by-step guidance for non-citizens seeking permanent residency in the United States through the EB-5 program.

• Conduct comprehensive research:Before investing, do your research and choose a reputed Regional Center. These centers are commercial, public, or hybrid enterprises that promote economic development in specific U.S. regions. They can help investors identify appropriate investment options based on their preferences and criteria. The USCIS website has a list of approved regional centers.
• Complete your investment:After selecting an eligible Regional Center, deposit the needed minimum investment amount into an escrow account. The money will be released to the designated Regional Center following the approval of the I-526 petition.
• Submit the I-526 petition:Filing the I-526 petition is the first step toward permanent residency under the EB-5 program. Submit the petition to the United States Citizenship and Immigration Services (USCIS), together with all required papers. Avoid delays by ensuring that your application is complete and accurate.
• Obtain conditional residency:Once your I-526 petition is approved, you will be granted conditional residency for two years. During this time, track and document the development of at least ten full-time jobs as a result of your investment.
• Fill out the I-829 petition:To remove conditional residency, file an I-829 petition within 90 days of the second anniversary of gaining conditional residency. The petition should include proof of satisfying the employment creation criterion.
• Achieve permanent status:If your I-829 petition is successful, you will be given permanent residency in the US.

FAQS

Who qualifies for EB-5?

To qualify for the EB-5 program, investors must make a minimum investment of $900,000 in an eligible commercial venture. Investors may also qualify by investing $1.8 million in a TEA.

What is the required investment for an EB-5 visa?

Visas for immigrants are permitted under the Regional Center Program through September 30, 2027.

For applications submitted on or after March 15, 2022, a minimum investment of $1,050,000 is required.

Conclusion

You should now have a much better knowledge of the key components of the EB-5 visa program.

This is a lot of information to process. But don’t panic; with the assistance of a knowledgeable EB-5 lawyer, the process may be easier than you think.