What You Need to Know About the EB-5 Visa Program
Recently, the EB-5 Program was set to expire. Below you find an overview of the program. Read on to learn more about the EB-5 Program and the latest updates.What Is an EB-5 Visa?
The EB-5 program allows immigrants to obtain a visa by investing a significant amount of money. 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 wish to invest in. If the individual chooses to invest in a targeted employment area (TEA), the investment is $900,000. For 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 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.
The program was set to expire on June 3oth, and it is still unclear what the future of the program holds. Our firm will keep you posted as updates are announced.
If you have any questions or concerns, our firm is here to help. We will walk you through all of your immigration law matters, every step of the way. Reach out today to speak with an experienced and dedicated attorney.Contact Our Firm
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.