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The EB-5 visa offers permanent residence to foreigners who meet specific investment requirements. The ultimate purpose of this visa is to encourage foreign investors to spur economic growth and job creation in the U.S. In return, the investors are eligible to seek a Green Card.
This makes EB-5 visa a viable option for investors and their families seeking permanent residence in the U.S.
However, you must meet a stringent set of requirements to be eligible for the EB-5 visa. These requirements and other details of the visa are noted below.
It is typically a good practice to consult a reputable immigration law firm before you begin the EB-5 visa application process. The right immigration attorneys can offer you invaluable advice and guidance on how best to proceed with the process, avoid mistakes, and make sure you get a favorable decision at the earliest.
Investment Requirements for EB-5 Visa
A key eligibility requirement for the EB-5 visa is that you put up a substantial amount of capital as an investment in a business based in the U.S. The amount of capital you put up must be ‘at risk’ – this means that the investment you undertake should be such that you may incur both profit or loss.
This is to make sure that you are not ‘buying’ a visa but instead investing with a healthy risk to generate real economic growth in the U.S.
As of 2024, you must invest at least $1.8 million if you choose to invest in a standard commercial enterprise. A standard enterprise is typically a business in an industry with an average unemployment rate. The investment amount was recently raised from $1 million to $1.8 million to account for inflation.
Your other option is to invest in an industry or business area with an exceptionally high unemployment rate. This is designated as a Targeted Employment Area (TEA). The minimum investment requirement if you are investing in a TEA is $900,000. This amount was recently increased from $500,000 to account for inflation.
When putting up the capital amount for investment, you must also prove that these funds were legally obtained and not associated with any criminal activity. You are also required to show that the business in which you intend to invest is a bona fide enterprise.
Job Creation Requirements for the EB-5 Visa
Another notable requirement of the EB-5 visa is that as a foreign investor, your investment must lead to the creation of a certain number of jobs in the U.S.
Specifically, the business in which you have invested must lead to the creation or preservation of at least 10 full-time jobs for U.S. workers who qualify for these roles. This requirement must be met within two years from the date of investment. However, the United States Citizenship and Immigration Service (USCIS) may grant a one-year extension to let you meet the requirement.
Commercial Enterprises for Investment
You can invest in any of the following commercial enterprises to meet the investment requirements for the EB-5 visa:
– Joint ventures
– Publicly owned entities
– Limited partnerships
– General partnerships
– Corporations
– Business trusts
– Sole proprietorship
– Any other privately owned business
You can also invest in other types of business opportunities as long as they are commercial and promise to garner job creation and economic growth in other ways.
Investment Options
When investing your capital to meet the investment requirements of the EB-5 visa, you have two options:
– You can directly invest in a commercial enterprise
– You can invest through a designated Regional Center
Here’s a look at both options.
Investing Via Regional Centers
A Regional Center is an entity that is designated by the USCIS to oversee and promote economic growth within a particular region or area. Each region has its regional center.
As an EB-5 visa applicant, you can invest your capital through a regional center. In this case, your capital will be pooled with other investors and then used in large-scale projects. This pathway typically leads to the creation of indirect jobs that meet EB-5 visa requirements.
The upside of this option is that it is safer and less hectic to invest through a Regional Center. Such centers can more effectively manage risk and offer a reliable return on investment. They also save you the trouble of overseeing the everyday operations of the business.
The downside is that you must pay a filing fee of $17,795 which is somewhat higher than the filing fee if you are directly investing in a business. Investing through a Regional Center also involves submitting Form I-924.
Investing Via Direct Investment
Your other option is to directly invest your capital in a commercial enterprise in the U.S. This means that the money must be spent in either buying and managing an existing one or starting a new business.
In this case, you are responsible for generating direct jobs from your business. You must also handle everyday operations and take care of all aspects of the business.
The upside of direct investments is that these give you greater control over your investments. The downside is that you must put a lot of time and effort into the day-to-day operations of the business.
Rural and Urban Investments for EB-5 Visa
USCIS also distinguishes between rural and urban investments. If you are investing in a commercial enterprise in a rural area with a higher unemployment rate, you may qualify for a lower capital threshold requirement. In contrast, if your investment is geared towards a metropolitan, urban area, you may need to meet a higher capital threshold requirement.
It is best to consult a reliable immigration law firm when determining how best to meet the investment requirements of the EB-5 visa.
Applying for the EB-5 Visa
The visa application process or the EB-5 visa is structured but it may seem complicated if you are not properly guided.
Here’s a quick look at how the visa application process works.
Step 1: Submitting Form I-526
This is the first process in applying for the EB-5 visa. It’s also known as Immigrant Petition by Alien Investor. This form proves that you have already invested, or are in the process of investing, the required capital into a U.S. commercial enterprise. It also demonstrated that you meet other investment requirements.
You don’t need any U.S.-based sponsor or employer to fill out and submit the form. This is because the EB-5 visa pathway is different from many other visa pathways that depend on a sponsor based in the U.S.
Since you are solely responsible for filling out the form, it is best to consult an immigration attorney during the process.
Step 2 (If you are inside the U.S.): File Form I-485
Form I-485 is filed to seek an adjustment to your visa status, from your current visa category to the EB-5 visa. The form also helps you go from a non-immigrant visa to an immigrant visa.
Once USCIS approves your Form I-485, you are granted conditional permanent residence. The duration of the conditional permanent residence is 2 years. During this period, you must meet visa requirements related to job creation and other aspects of the visa.
Step 2 (If you are outside the U.S.): File Form DS-260
If you are applying for the EB-5 visa from outside the U.S., you must file Form DS-260. Once you submit the form, you will be required to appear for a visa interview at your local U.S. embassy or consulate.
Step 3: File Form I-829
Once you meet all the requirements of the EB-5 program, including the creation of direct or indirect jobs, you are eligible for permanent residence without conditions. You can seek to have the conditions removed by filing Form I-829.
You can file this form in the 90 days leading up to the 2-year threshold for your conditional residency. Once your form is approved, you can live as a lawful and permanent resident in the U.S. The same privileges are then also available for your dependents.
Supporting Documents for the EB-5 Visa Application
You will need an extensive list of documents to support your visa application. These include the following:
For Form I-526
For Form I-829
For Form I-485 or Form DS-160
Depending on your visa application, you may be asked to provide other documents as well. This is why it is best to seek help from an immigration law firm when applying for an EB-5 visa.
Visa Application Fees and Processing Time
The actual fees involved in the visa application process for the EB-5 visa depend on where you are applying from.
If you are applying from within the U.S., you can expect to pay the following fees:
– Form I-526: $11,160
– Form I-485: $1,540
– Form I-829: $9,525
In all, expect to pay around $21,130 in visa application fees.
If you are applying from outside the U.S., the following fees are involved:
– Form I-526: $11,160
– Form DS-260: $325
– Support Fee: $120
– Form I-829: $9,525
So you can expect to pay around $22,225 in visa fees when seeking an EB-5 visa from outside the U.S.
Please note that you will be required to pay other fees associated with your investment, such as the $17,795 filing fee for investment through a Regional Center.
Medical Examination Requirement for the EB-5 Visa
You must undergo a medical examination and submit a report as a part of your EB-5 visa application. This applies regardless of whether you are applying from within or outside the U.S.
If you are applying from outside the U.S., you will need to undergo a medical examination at a designated healthcare facility or doctor. This designated facility must be approved by your local U.S. embassy or consulate. You must provide the medical examination report at your visa interview.
If you are applying from inside the U.S., you must visit a USCIS-approved doctor to undergo medical examination. You must submit the report from this examination alongside the Form I-485.
In either case, you are to undergo the medical examination only when and if your Form I-526 is approved. Once the medical examination concludes, you will be provided with a sealed report. You must provide this report without opening it to your local embassy during visa interview, or to the USCIS if applying from inside the U.S.
If you are not sure how this works, you can consult an immigration law firm for detailed guidance and help.
Medical Examination Requirement for the EB-5 Visa
You must undergo a medical examination and submit a report as a part of your EB-5 visa application. This applies regardless of whether you are applying from within or outside the U.S.
If you are applying from outside the U.S., you will need to undergo a medical examination at a designated healthcare facility or doctor. This designated facility must be approved by your local U.S. embassy or consulate. You must provide the medical examination report at your visa interview.
If you are applying from inside the U.S., you must visit a USCIS-approved doctor to undergo medical examination. You must submit the report from this examination alongside the Form I-485.
In either case, you are to undergo the medical examination only when and if your Form I-526 is approved. Once the medical examination concludes, you will be provided with a sealed report. You must provide this report without opening it to your local embassy during visa interview, or to the USCIS if applying from inside the U.S.
If you are not sure how this works, you can consult an immigration law firm for detailed guidance and help.
Common Reasons for Visa Refusal
Your application for the EB-5 visa may be rejected for a variety of reasons. These include the following:
– Inability to prove that your funds are legally sourced
– Your application lacks the relevant supporting documents or evidence
– The information provided on one or more forms you submitted is inaccurate
– You have filed the wrong petition
– You have a history of criminal activity inside the U.S.
– You don’t have the sufficient funds to meet EB-5 visa requirements
You can improve your odds of success by consulting an immigration law firm before you file for your EB-5 visa.
What Happens if My Visa is Rejected?
The good news is that you may still be able to appeal the rejection. This ultimately depends on what caused the rejection in the first place.
If your petition was rejected due to missing evidence or documents, you can bring together the missing material and then file a motion to reopen. This might prompt USCIS to review your application a second time along with the new material you provide, and then make a decision.
If you think you have been unfairly awarded a refusal, you can file a motion to reconsider. This requires an extensive knowledge of the U.S. laws and warrants close guidance from a qualified immigration attorney.
Why Choose Our Immigration Law Firm?
Our immigration has a stellar record of helping EB-5 visa applicants. Our immigration attorneys advise you on how best to proceed with the visa application, meet all requirements, and improve your odds of receiving a favorable verdict.
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