Permanent resident status based on EB-5 eligibility is available to investors, either alone or coming with their spouse and unmarried children under 21. Eligible foreign nationals are those who have invested, or are actively in the process of investing, the required amount of capital into a new commercial enterprise that they have established. They must further demonstrate that this investment will benefit the U.S. economy and create the requisite number of full-time jobs for qualified persons within the U.S.
You may be eligible for EB-5 Immigrant Investor Visa:
1. If you establish a new commercial enterprise by:
- • Creating an original business;
- • Purchasing an existing business and simultaneously or subsequently restructuring or reorganizing the business such as that a new commercial enterprise results; or
- • Expanding an existing business by 140 percent of the pre-investment number of jobs or net worth, or retaining all existing jobs in a troubled business that has lost 20 percent of its net worth over the past 12 to 24 months;
2. If you have invested, or are actively in the process of investing, in a new commercial enterprise:
- • At least $1.05 million; or
- • At least $800,000 where the investment is being made in a “targeted employment area,” which is an area that has experienced unemployment of at least 150 percent of the national average rate or a rural area; and
3. If your engagement in a new commercial enterprise will benefit the U.S. economy to:
- • Create full-time employment for at least ten qualified individuals; or
- • Maintain the number of existing employees at no less than the pre-investment level for a period of at least two years, where the capital investment is being made in a ‘troubled business’, which is a business that has been in existence for at least two years and that has lost 20 percent of its net worth over the past 12 to 24 months.
You May be Eligible to Receive Conditional Permanent Residence
The EB-5 investor and his or her derivative family members are eligible for conditional permanent residence for a 2-year period upon the approval of the I-485 adjustment of status application or upon entry into the United States with an EB-5 immigrant visa.
You Are Eligible to Become a Permanent Residence
After 2 years, the entrepreneur is eligible to apply for removal of the conditional status. To do that, the entrepreneur must have continuously maintained the investment during the conditional residency period. The entrepreneur’s residence may be terminated if it is found the business was not established or was established solely to evade immigration laws. The USCIS will examine the business at the end of the 2-year period to determine whether or not the individual has complied with all of the EB-5 visa’s requirements.
In order to become a lawful permanent resident, eligible investors must file I-829, Petition by Entrepreneur to Remove Conditions. The I-829 petition must be filed within 90 days before the second anniversary of the Investor’s admission to the United States as a conditional resident. The petition will be granted if the investor has fulfilled the EB5 requirements in accordance with the business plan in the approved I-526 petition. Failure to file I-829 petition will result in automatic termination of the conditional resident’s status and will initiate deportation proceedings.
Immigrant investors remain in “valid” status while their I-829 petition is pending. Their status is supposed to be extended automatically in one year increments until USCIS adjudicates the petition. During that time, investors are authorized to travel and work in the United States.
Once conditions have been removed, a full green card is granted for indefinite permanent resident status in the US. After 5 years of permanent residency (including the two conditional years), an investor may apply for US citizenship.
Dependents
Your spouse and unmarried children under the age of 21 may be admitted to the US with you on a 2-year conditional period. If your I-829 petition to remove conditions is approved, the conditions will be removed from your spouse and children’s Green Card status. As lawful permanent residents (Green Card holders) your spouse and children will be authorized to work or attend school in the US.
For consultation with an Immigration Lawyer, please CALL US at (626) 642-8066 or Complete the our Contact Form. An attorney in our office would be happy to assist you.
The information on this website is not to be considered legal advice. Such information is intended to educate members of the public generally and is not intended to provide solutions to individual problems. Readers are cautioned not to attempt to solve individual problems on the basis of information contained herein and are strongly advised to seek advice from an experienced immigration attorney regarding specific case situations.
