In 1990, Congress created the EB-5 Immigrant Investor Program. The EB-5 program uses foreign investors to stimulate capital investment and job creation in the United States, especially in rural and high unemployment areas. Below are some commonly asked questions regarding EB-5.
What is USCIS?
USCIS is the acronym for United States Citizenship and Immigration Services. USCIS is within the Department of Homeland Security, and oversees legal immigration to the United States.
What is the EB-5 Program?
It is an investor program with the ultimate goal of creating U.S. jobs. The program creates an incentive for immigrants to invest money in a U.S. business that will create jobs, and in return the investor receives a permanent green card. In order to qualify, the business receiving the investment must create a minimum of ten full-time jobs within two years of the EB-5 investor being admitted to the U.S. as a Conditional Permanent Resident.
What is a TEA?
TEA is the acronym for Targeted Employment Area. A TEA could either be a rural area or an area with high unemployment. If the investment happens in a TEA, then the minimum investment is $500,000 instead of the usual $1,000,000.
What are the Steps in the Two Year Petition Process?
The first step is to file the petition using form I-526 (Petition by Alien Entrepreneur). The I-526 will include required information about the EB-5 investor, as well as the investment itself and job creation. Once the I-526 is approved, Form I-485 (Application to Register Permanent Residence or Adjust Status), or DS-230/ DS-260 (Application for Immigrant Visa and Alien Registration), will be filed, and upon the approval of the applicable form the EB-5 investor and certain family members will be granted conditional permanent residence in the U.S. for a two year period.
After that, 90 days prior to the two year anniversary of the EB-5 investor being granted conditional permanent residence, form I-829 (Petition by Entrepreneur to Remove Conditions) is filed. If approved by USCIS, the conditions will be removed from the EB-5 investor’s status and the EB-5 investor and certain family members will be allowed to permanently live and work in the U.S.
Where is the Bulk of the Attorney Time and Cost Spent?
The EB-5 process occurs over the span of a few years, and requires a significant amount of time and effort to identify the right investment and collect all of the necessary documentation for the EB-5 application to be successful.
What is the Average Attorneys Fee for an EB-5 Investor?
We typically charge a flat fee of $20,000.
If you would like to discuss your specific situation, please contact Todd at email@example.com.
For further information, please see Immigrant Investors: The EB-5 Program.