EB-5 Background

The Immigration Act of 1990 created the EB-5 visa petition, and in essence, answers the investors’ goal of permanent residency in the most direct route. The investor, their spouse and all unmarried children under the age of 21 enter the United States as conditional residents under the I-526 petition. After two years, the I-829 is filed which, upon granting, makes the status permanent.

The basic criteria for such a visa include:

(1) The Investor/Petitioner must have invested in or be in the process of investing in a commercial enterprise – be it original, purchased, restructured or expanded from an existing enterprise. Investing in a so-called troubled business could also qualify.

(2) The investment must be at least $1 Million in any investment of the investor’s choice or at least $500,000 if they are investing in a designated regional center.

(3) Creation of a minimum of 10 full-time employment positions – this does not include the immigrant or his or her family members.

Rocky Road for the EB-5 in the Beginning

Since the creation of the EB-5, investors, their lawyers, and Immigration have grappled with issues that determine the success of an I-526 Immigrant Petition by Alien Entrepreneurs. It quickly came clear that it is not only important to advise a client as to the I-526 process, they must also be aware of what immigration will require 2 years later when the petitioner files the I-829 petition to remove the 2 year conditional resident alien status. Problems included the viability of the investment, the timing of job creation and the method for demonstrating the establishment of jobs that vary among non-regional center cases, troubled business cases, and regional center filings.

Light at the End of the Tunnel

The EB 5 pilot program was created to allow for the $500,000 investment to be made in an approved Regional Center in a targeted employment area which will satisfy the requirement by USCIS of ten jobs created. In the EB 5 pilot program, these can be indirect jobs so that the permanent residency is assured upon the investment and not success of the project. This program is also different from the regular EB-5 provision as it permits private and governmental agencies to be certified regional centers.

It is important to note that all investment-based visas have strict requirements, and proper analysis of your business venture and goals is key.

To learn more about the EB-5 Visa click here: EB-5 Visa Information

To find an EB-5 attorney click here: EB-5 Attorneys