THE EB-5 VISA PROGRAM

The United States Congress created the EB-5 visa program in 1990 as an economic stimulus incentive for foreigners interested in long-term US residency. In 1992, Congress created the Immigrant Investor Program, also known as the Regional Center Program. The program was designed to boost the US economy, create U.S. jobs, and allow for foreign investors to obtain green cards and eventual residency in the United States. The USCIS (United States Citizenship and Immigration Services) presently administers the EB-5 program.

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BENEFITS OF THE EB-5 PROGRAM

  • Unique investment opportunity.
  • Permanent residency for foreign investors.
  • Green Cards persons seeking United States residency.
  • Green Card for the family members of the investor.
  • In-state tuition at American universities for Green-Card-holding family-members.
  • Permanent residency for family members and spouse of investors.
  • US citizenship after successful EB-5 investment.

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INVESTMENTS

  • To qualify, a foreign investor must invest in a new or failing business.
  • An investment of $500,000 is required in a TEA (targeted employment area): a high unemployment area (150% of the national average) or rural area (a business in a city or town with a population of less than 20,000).
  • A $1,000,000 minimum is required for all other qualifying businesses in non-TEA zones.
  • Investors can invest alone, with other foreign investors, or even with American investors, so long as the EB-5 investor invests the monies independently.

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JOB REQUIREMENTS

  • Each investment must create or preserve at least 10 full-time jobs for at least 2 years.
  • Full time job is defined as a position that includes 35 hours-per-week per-employee.
  • Every EB-5 investment must include at least 10 full-time workers working 35 hours a week.
  • Failure to meet the EB-5 job-requirement will result in disqualification from the EB-5 program.

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FORMS AND PERMANENT RESIDENCY

  • To apply as an EB-5 Immigrant Investor, all applicants must file Form I-526, Petition by Alien Entrepreneur Form I-526, Petition by Alien Entrepreneur. I-526 approval will be determined by meeting aforementioned requirements: an investment of $500,000 in a TEA or $1,000,000 in a new commercial enterprise, evidence of the investor’s managerial oversight of the project, and the creation and maintenance of at least ten full-time jobs in the United States.
  • Form I-485, Application to Register Permanent Residence or Adjust Status, or a DS-230/DS-260, Application for Immigrant Visa and Alien Registration: Upon approval, the investor’s immediate family will be able to enter and reside in the United States of America for a two-year conditional-period.
  • 90 days before the 2-year anniversary of the EB-5 Green Card approval, investors need to file Form I-829. Approval of the I-829, Petition to Remove Petitions, is determined by sustained investment in a new commercial enterprise and at least ten jobs created and maintained for the two-year period.
  • After these forms are filed and approved, temporary conditions will be removed and a foreign investor and family (spouse, plus any unmarried children under the age of 21) will be permanent, lawful residents of the United States.

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SEPTEMBER 30TH, 2015 AND POTENTIAL CHANGES TO THE EB-5 PROGRAM

  • The current status of the EB-5 Visa program is set to “expire” on September 30th, 2015.
  • Several bills have been introduced recently regarding extension of the program, including bills that would increase the minimum investment amounts.
  • Until passed, all bills remain merely proposals.