The EB-5 Investor and Employment Creation green card category is a program established by the United States government to attract foreign investors who are interested in making substantial investments in the country’s economy. This program allows eligible foreign nationals and their immediate family members to obtain permanent residency in the United States, commonly known as a green card.
Here is a comprehensive overview of the EB-5 program, including its uses and requirements:
Investment Amount:
- To qualify for the EB-5 program, an investor must make a minimum qualifying investment in a new commercial enterprise. The investment amount varies depending on the location of the investment:
- General Investment: The minimum investment is $1.8 million.
- Targeted Employment Area (TEA) Investment: If the investment is made in a designated TEA, which includes rural areas or regions with high unemployment, the minimum investment is $900,000.
Job Creation Requirements:
- The primary purpose of the EB-5 program is to stimulate job creation in the United States. An investor must create or preserve at least 10 full-time jobs for qualifying U.S. workers within two years of receiving their conditional green card.
- These jobs can be direct, where the investor’s enterprise directly employs the workers, or indirect, where the investment leads to job creation in affiliated or related commercial enterprises.
Investment Options:
- Investors have the flexibility to choose between two investment options:
- Starting a New Commercial Enterprise: An investor can establish a new business entity in the United States. This can be either a for-profit business or a regional center project.
- Investing in a Regional Center: A regional center is a private or public economic unit designated by the U.S. Citizenship and Immigration Services (USCIS). Investing in a regional center allows investors to take advantage of indirect job creation calculations, providing more flexibility in meeting the program’s requirements.
Source of Funds:
- Investors must demonstrate that the funds invested were obtained lawfully. USCIS requires comprehensive documentation to prove the legal source of the investment capital, such as business earnings, sale of assets, inheritance, gifts, or loans.
Conditional Green Card and Removal of Conditions:
- Upon approval of the EB-5 petition, investors and their immediate family members (spouse and unmarried children under 21) are granted conditional green cards, valid for two years.
- Within the 90-day period before the conditional green card expires, the investor must file a petition to remove the conditions and demonstrate that the required jobs have been created or are in the process of being created.
Path to Permanent Residency:
- Once the conditions are removed, the investor and their family members receive permanent resident status, granting them the right to live and work anywhere in the United States.
- After five years of maintaining lawful permanent residency, investors are eligible to apply for U.S. citizenship, subject to meeting additional requirements such as residency and English language proficiency.
It’s important to note that the EB-5 program has certain limitations, including an annual cap of 10,000 visas and strict regulations to ensure compliance. It’s advisable for prospective investors to seek guidance from immigration attorneys or professionals experienced in the EB-5 program to navigate the complex process successfully.