For people who wish to obtain lawful permanent residence in the United States, the EB-5 immigrant investor visa is an expedient and effective alternative to obtaining that coveted green card status. A substantial number of these visas are allocated every year, and it’s likely that at this very moment, one is available for you, so long as you have sufficient funding, and you’re able to generate 10 jobs or more for the U.S. economy.
The EB-5 Visa and Its Benefits
First and foremost, when an EB-5 visa is approved by the U.S. Citizenship and Immigration Service, the investor, his or her spouse and all of their unmarried children under the age of 21 are also granted green cards. Those individuals aren’t subject to job restrictions and visas for travel for you and them to and from the United States are no longer required. You’re all free to live anywhere in the United States through the Regional Center Pilot Program.
Requirements for EB-5 Investors
The EB-5 immigrant investor is required to invest in new commercial activity that involves federally approved regional centers that are connected with economic growth proposals. Conditions are attached though, so here are the requirements:
- Investment of $1,050,000 in a non-targeted employment area project, or
- $800,000 into a targeted employment area project in a rural area or another area with a high unemployment rate.
- Employ at least 10 permanent and full-time qualified USA workers.
- Upon approval of conditional residence for two years, the conditions are so long as USCIS is satisfied that10 or more jobs were created and still exist. The funds must remain invested for at least five years after issuance of the investor’s green card.
- Investors who apply for an EB-5 visa must have a net worth in excess of $1 million and show proof that the funds were legitimately obtained.
- As with all other permanent residents, the investors must intend on residing in the United States for sufficient periods of time that are necessary to maintain their permanent residency.
- The necessary investment funds may be paid into a U.S. escrow bank account. That sum remains the investor’s money. It should be refundable if the investor’s EB-5 visa is denied or if the investor decides to walk away from starting up the project.
How Long Does it Take for Approval?
Before the COVID 19 pandemic, assuming that all paperwork and supporting documentation was in order, an EB-5 applicant could expect to receive his or her conditional green card in a little more than a year. Given current events, processing times have slowed down, but just for a month or a bit longer. Two years after obtaining conditional residency, an application for adjustment of status can be filed. For purposes of U.S. citizenship, the investor must have continuously lived in the United States for a minimum of five years.
At Maison Law Immigration Lawyers here in Bakersfield, we focus our practice on immigration issues. That’s what makes us uniquely suited to provide investors with top quality EB-5 services. Contact us with your EB-5 questions or issues. Once you retain us to represent you, you’ll be well on your way to becoming a lawful permanent U.S. resident and a financial success. That’s what we want to see with all of our clients.
Contact a California Immigration Lawyer Today
If you or a family member need assistance in obtaining a permanent residency in the United States, speak with a Central Valley immigration attorney at Maison Law Immigration Lawyers. We know what needs to be done to effectively help you. We’re committed to helping every person who intends on becoming a permanent resident of the United States in obtaining the professional legal assistance that they deserve. It’s people like you who built this country, and your family members can continue build it even better.
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