EB-5 Visa Overview
The EB-5 Immigrant Investor Program offers a unique pathway for international investors to secure U.S. green cards, enabling them to reside, work, and retire anywhere in the United States lawfully and permanently. As a green card holder, you benefit from hassle-free entry and exit from the U.S., eligibility for federal education aid, and access to Social Security and insurance benefits. Additionally, you can sponsor relatives for green card applications, further extending the benefits of your investment.
About the EB-5 Program
Introduced by the U.S. government in 1990, the EB-5 Immigrant Investor Program was designed to attract foreign investment and stimulate economic growth. Historically, the investment amount was set at $500,000 for projects located in Targeted Employment Areas (TEAs) and $1 million for non-TEA projects. As of 2022, the requirements have been updated: investors can now choose to invest $800,000 in a TEA-qualified or infrastructure project, or $1.05 million in a standard investment. To qualify for green cards, investors must demonstrate that their investment has created at least ten jobs for U.S. workers.
Targeted Employment Areas (TEAs)
A Targeted Employment Area (TEA) is a region that is either rural or has an unemployment rate at least 1.5 times the national average. Investments in TEAs benefit from a reduced threshold of $800,000, compared to $1.05 million for projects outside these areas.
EB-5 Regional Centers
EB-5 Regional Centers are organizations approved by U.S. Citizenship and Immigration Services (USCIS) to manage EB-5 investor funds. These centers focus on promoting economic development and job creation within specific geographic regions. By pooling funds from multiple investors, Regional Centers facilitate the indirect job creation required for EB-5 visa approval.
Job Creation Requirements
Each EB-5 Visa investment must generate at least ten full-time jobs for U.S. workers, lawful permanent residents, or immigrants authorized to work in the United States. This job creation must be achieved over two years. By investing through a Regional Center, investors can benefit from indirect job creation, making it easier to meet the program’s requirements.
Application Process
I-526E Petition: This is the initial visa application, filed with USCIS by prospective investors and their attorneys. It includes documentation proving the investor’s eligibility and the lawful source of investment funds.
I-829 Petition: The final step in the EB-5 process, the I-829 petition is filed with USCIS to demonstrate that all program requirements have been met, including the creation of at least ten jobs. Approval of this petition results in the issuance of permanent green cards for the investor and their family.
Green Card Issuance
After the I-526E petition is approved, investors receive conditional green cards valid for two years. Upon approval of the I-829 petition, these conditions are removed, and investors and their family members receive permanent green cards.
The most common reason for I-526E petition rejection is the failure to prove that the investment funds were lawfully obtained. Investors and their families, including spouses and unmarried children under 21, are eligible for green cards. It’s important to submit the I-829 petition within 90 days before the conditional green card expires to ensure continuous residency status.
Green card holders are taxed similarly to U.S. citizens, subject to federal tax on worldwide income from the date of residency.
For more information on how Summit Square LLC can help you navigate the EB-5 Immigrant Investor Program and secure your path to U.S. residency, please contact us today.