EB 5 Program

1. The EB 5 Visa: What is it, who is eligible and what is the  process?    The United States ​EB 5 Immigrant Investor Program​ is often referred to as the ‘investor visa’ It is intended to support economic growth and employment through increasing the number of foreign investors in the United States. The program permits investors and their spouses and eligible children to apply for a green card if they meet the following criteria: ● Make an at-risk investment in a commercial enterprise in the United States ● Create (or save) at least 10 jobs for qualified U.S. employees I have previously given an outline of the ​benefits of this type of visa​, but here will look at what are the exact EB 5 visa requirements.

2. Confirmation of admissibility The EB 5 visa program can result in permanent residency and, in time, US citizenship. Therefore, step one of the process is to check that you potentially qualify for admissibility to the US. These​​admissibility requirements​ apply to applicants trying to enter the US, they are not visa specific. Admissibility requirements depend on: ● Health ● Criminal history ● National security ● Probability of becoming a public charge ● Fraud or misrepresentation ● Prior removals or illegal presence in the US Most people pass these criteria and are admissible to the US, so let’s look at the specific EB 5 visa requirements. Deciding upon the correct EB 5 investment Applicants must be investing in a commercial enterprise in the US, and (directly or indirectly) create employment for ten people. Therefore the first consideration is the form that investment will take. Here there are two factors to consider. EB 5 investment amount The minimum investment amount is considered to be around the $1 million mark. This amount can vary if the money is invested in a rural area, or where the local unemployment rate is 150% or more of the national average, where the initial

3. investment may be as low as $500,000. Location can therefore, play a critical role. Deciding upon the right project in which to invest An EB 5 investment will only be valid if it ticks all of the required boxes. It must, create jobs, and also be conducting lawful, for-profit business activity on an ongoing basis. The business must have been started after November the 29th, 1990, but there are possible exceptions to this rule. Deciding upon the right enterprise in which to invest in can be the most challenging part of the EB 5 visa process. The investment opportunity needs to be certain to meet these criteria, as well as being financial shrewd. There are agencies that can help to find the right investment opportunity. For example, specialized EB 5 immigration agents can be commissioned to locate suitable opportunities. A second option is to invest in a regional center. Regional centers are economic units (privately or publicly operated) that are approved by the USCIS to take part in the EB 5 program. Making the EB 5 Investment Once a suitable investment opportunity has been located and agreed upon, the next step is the investment itself. This is typically deposited into an escrow account – which is the most secure option (and for this your immigration attorney can guide you through the process). Filing the I-526 petition When an EB 5 investment has been made, it is time for your attorney to make an I-526 petition to the USCIS. USCIS typically take 12-18 months to process the application. In the I-526 petition, proof will be required of: ● The investment is in a new commercial enterprise

4. ● The investors management of/involvement in the investment ● The investment itself ● That at least 10 jobs will be created directly, or indirectly if investing in a regional center (it is also a possibility to invest in a troubled business, and in such cases an applicant has to prove that the investment will save at least ten peoples jobs).If all goes according to plan, the application will eventually be approved by the USCIS. Once approval is given, the applicant has the right to become a two year conditional resident of the US. The next step is to confirm that right. Obtaining the conditional permanent residence If the investor is already a lawful resident of the US, they will need to file form I-485 to request a change of status to that of an EB 5 visa holder.People living outside the US are required to apply for an immigrant visa by filling in a form DS-230 to their national US embassy and consulate. This application process will generally also involve an interview. It normally takes about six to twelve months for an immigrant visa to be granted. Becoming a permanent resident The initial EB 5 visa allows the investor and their eligible family conditional permanent residency for two years. At least ninety days before this two years is up, submission of form I-829 is required to apply for unconditional permanent resident status. This application serves to prove that the EB 5 investor has met all the requirements of the EB 5 program. Proof will be required of sustained investment in the business and of the aforementioned job creation. If all these criteria are met, the investor and his / her eligible family members will be granted green cards within six to eight months.

5. Hire an EB 5 attorney The most secure and dependable way to get an EB 5 is to ensure that you successfully complete the application process the first time. The best way to achieve that is to hire the services of an experienced expert immigration attorney. At the Law Offices of Attorney ​Eliana Phelps​ we are very used to helping our clients every step of the way to achieve their immigration goals and to go on to receive permanent residency and green cards. ​Contact​​us today to start your journey towards your green card.