EB-5 Visa – Investing in the American Dream
EB-5 Visa – Investing in the American Dream.
There a couple of steps you must keep in mind in order to obtain a green card through the EB-5 visa program. Even though the process may seem complicated, it is still an excellent way of obtaining a green card. The visa requires individuals to invest either $1 million in a city setting or $500,000 in a rural area to receive US citizenship. That being said, let’s consider the five most important steps to get an EB-5 visa:
Find an ‘Investment’ Project.
You have to start by finding a suitable project to invest in. This can take the form of Regional Center projects or a new commercial enterprise for individual investors. If you are planning to invest as an individual investor, you have to locate the business on your own. However, it proves to be a great option for people who want to run their business on their own.
On the other hand, if you want, you can consider investing through a ‘Regional Center’. Even though you will be a passive investor, you will be contributing towards government recognized entities. With this option, you simply invest with the center and get a small return on your investment which is usually 1% to 2%.
Contact an Experienced Lawyer.
Most individuals wonder whether they will require a lawyer to guide them through the process. It is true that you will need a lawyer and in most cases you may need an accountant too. Having an experienced lawyer is important so you can carefully consider the various implications of going through the visa program by setting up your own business and also ensure you are filing the appropriate applications and documents at the right time.
Make the Capital Investment While Your Attorney Files an I-526 Petition.
Once you have found a suitable project, invest in it the right away. The investment is made into an escrow account after which your immigration lawyer will file an I-526 petition with the government. To file the petition, you need to present evidence that your investment will lead to the creation of ten fulltime jobs for US workers. You will support your case with a detailed business plan. Moreover, it is also important for you to prove your funds come from a legitimate source after which you will be notified whether the petition has been accepted or not within four to six months.
Request for Information.
The EB-5 visa is a complex and a document intensive petition. To gain a better understanding of your strategies and financial data, the government will often request for additional information which is a normal part of the process. Such requests need to be taken to your attorney as soon as your receive them.
Applying for a Conditional Green Card.
The government will issue you a conditional green card for two years within which you have to meet all requirements. You will be considered eligible for a conditional green card after your I-526 petition has been approved. The last step of the EB-5 visa is to remove your two-year conditional status. To do this, your immigration lawyer will need to file an I-829 petition 90 days prior to the date you actually receive your conditional residency. The purpose of this application is to prove you have met all requirements of the visa program. After being cleared, the US government will issue a permanent green card six months after the I-829 has been submitted.
You should now be able to apply for an EB-5 visa without any problems. It is a good idea to stick to these five important steps to ensure you are successful and get your green card quickly and without hassle.
Click here to read more about EB5 Gren card.
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