Immigration Investor Visa
EB5 immigrant visa category was created by Congress in 1990 and is available to immigrants seeking to enter the United States through an investment in a new commercial enterprise that will benefit the US economy and create at least 10 full-time jobs. It is governed by Immigration & Nationality Act sec. 203(b)(5) , 8 USC §1153(b)(5) and allows for issuance of 10,000 immigrant visas, 3,000 of which are set aside for “targeted employment areas” and 3,000 – for investing through a Regional Center under the Immigrant Investor Pilot Program. There are two ways to invest which you may use within the EB-5 category, and they are (1) creating a new commercial enterprise or (2) investing in a troubled business.
EB5 Application Process
Acquiring lawful permanent residence (“Green Card”) through the EB-5 category is a three step self-petitioning process (you do not have to have a job offer). First, a successful applicant must obtain approval of his or her Form I-526 (Petition for an Alien Entrepreneur) ( with or without using a Regional Center). Second, he or she must either file an I-485 application to adjust status to lawful permanent resident, or apply for an immigrant visa at a U.S. consulate or embassy outside of the United States. The EB-5 applicant (and his or her immediate family members), are granted conditional permanent residence for a two- year period upon the approval of the I-485 application or upon entry into the United States with an EB-5 immigrant visa. Third, a Form I-829 (Petition by an Entrepreneur to Remove Condition) must be filed 90 days prior to the two year anniversary of the granting of the EB-5 applicant’s conditional Green Card to demonstrate that the investment was sustained. If this petition is approved by USCIS, then the EB-5 applicant will be issued a new Green Card without any further conditions attached to it, and will be allowed to permanently live and work in the United States.
Consulting an experienced immigration attorney to walk you through the complexities of any immigration case particularly an EB5. Each EB5 case is exclusive and requires knowledge of immigration law, and business in the United States. Teeple Hall, LLP has years of experience handling these types of visa’s and any other immigration tax issue’s that may arise.
For more information on how we can help contact us Teeple Hall, LLP today!