What Is an EB-5 Visa?
There are many reasons why people come to the United States. One reason may be for investment purposes. It is because of this that there are different types of investor visas, one being the EB-%. This is an investor program set up by USCIS for those who want to invest money into the United States. This allows them to obtain permanent residence which can put them on the path to citizenship. When applying for an investor visa, it is beneficial to retain the services of an experienced New York immigration attorney for guidance.What is an EB-5 Visa?
When a foreign individual wishes to be a part of this investor program, they must meet certain requirements. This requires them to make an “at risk” capital investment in a for-profit United States business entity. As of 2019, the required investment amount is a minimum of $900,000 or $1.8 million. This is dependent upon the type of project they want to invest in. If the individual chooses to invest in a targeted employment area (TEA), the investment is $900,000. Those who wish to invest elsewhere, the minimum amount required is $1.8 million. These investments must lead to the creation of 10 full time jobs in the United States for at least two years.What Is a Regional Center?
EB-5 investor visa applicants have two investment options. They can either invest directly or through a Regional Center. When making a direct investment, these individuals must find their own project and take a direct managerial role in overseeing it. This is best for those who want a hands-on control of their investment. Alternatively, it is best to make an investment through a Regional Center if the applicant is more interested in the immigration goals. These centers take the strain off the investor so that they do not have to meet certain program requirements, as they are not directly responsible. In 2018, over 93% of all EB-5 visas were based on investments through a regional center.What Is the Application Process?
When applying for an EB-5 visa, applicants must follow three steps to obtain permanent residency:
- Invest in an individual business or through a USCIS-designated regional center that creates 10 direct full time U.S. jobs per investor.
- When the I-526 is approved, the investor must submit their conditional permanent resident application by filing an I-485, Application for Adjustment of Status, or DS-260, Applicant for Immigrant Visa.
- Investors must prove that all EB-5 requirements have been met at the end of the two-year conditional residency. This is done by filing the I-829 application to remove conditions of residency.
Katona & Associates, PLLC is an experienced, highly dedicated New York City immigration law firm located in lower Manhattan. Our firm works with clients in all matters of immigration law, including employment immigration, family immigration, deportation defense, green cards, and citizenship. Contact us to discuss your case and get the help you need.