The EB5 visa for a US Green Card (permanent residency) by investing into the most popular Government approved EB5 Regional Center
You and your immediate family can now obtain green cards (Permanent US Residency) with an EB5 visa by investing $500,000 into a Government approved Regional Center. It will give each of you the security of permanent US residence without repeated visa applications. Citizenship may be obtained after five years.
With a Green Card via an EB5 investment visa you will have the flexibility to take any job, run any business, retire and live anywhere in the USA. You will have access to many of the benefits enjoyed by US citizens, such as education and in States such as Florida you will enjoy substantial savings in property tax.
Enjoy an American Life with an American Green Card.Frequently Asked Questions about the EB-5 program
Section I.General Information about the EB-5 visa
Section II. Eligibility requirements for an EB-5 visa
Section III. Obtaining an EB-5 visa through a CIS-designated Regional Center
I. General Information about the EB-5 visa
When and for whom was the EB-5 visa program created?
The EB-5 visa program was founded in 1990 under section 203(b)(5) of the Immigration and Nationality Act (INA). The program was created by the U.S. Citizenship and Investment Services (USCIS) for qualified non-US citizens seeking permanent resident status on the basis of their investments in the American economy.
How many EB-5 visas may be issued per year?
There are 10,000 EB-5 visas available to qualified aliens each year. 5,000 of these visas are designated for aliens who invest through a program at a USCIS-designated Regional Center.
How does the EB-5 visa differ from an L-1 visa (manager transfer)?
With an EB-5 visa, you obtain a green card for permanent residence in the United States. After 5 years, the investors and their family may obtain US citizenship, subject to meeting all immigration requirements. Other visas, such as the L-1, may never result in permanent residence, have time limits, have to be renewed, and require additional filings with the USCIS or Department of State.
Who may obtain an EB-5 visa?
Any person who can demonstrate the ability to invest the required amount into the American economy, can document that the capital was legally earned, and satisfies general eligibility requirements (e.g., medical, criminal) is qualified to apply. The investor’s spouse and any minor children (under 21) also qualify. The age of the minor children is “frozen” at the time of the application so, for example, a 20-year old dependent is not in danger of “aging out” during the process.
What is the minimum investment required?
An investment of at least $1,000,000 is required for an EB-5 visa. If the investment is made through a USCIS-designated Regional Center, the minimum requirement is $500,000.
Will my investment in a Regional Center be returned if my application is denied by the U.S. Citizenship and Immigration Services (USCIS)?
Yes. Most of the Regional Centers use specially created escrow accounts in which your investment is frozen until your application is approved by the USCIS. In the event that your application is denied, your investment will be returned to you in full minus administrative expenses.
For how long is the “green card” valid?
The investor and dependents receive a conditional, 2-year green card. Before the expiration of the two year period, a petition is submitted to the USCIS confirming that the investment has been made and that ten jobs have been created as a result of the investment.
If I or a member of my family is already in the U.S. on another visa, is it necessary to return to my home country in order to obtain an EB-5 visa or permanent residence?
No. In order to obtain permanent residence in the U.S. under the EB-5 program, you do not need to return to the country of your citizenship. You and the members of your family may apply to adjust status while in the United States.
How long does the application process take?
In general, the process takes less than one year. Petitions are reviewed quickly, usually within three months. After the petition is approved, it is forwarded to the overseas consulate or local USCIS for further processing and final visa issuance/permanent residency approval.
Where can I find more information about the EB-5 visa program?
Further information regarding the application process, requirements, and benefits of the EB-5 visa program can be found on the website of the U.S. Citizenship and Immigration Services (www.uscis.gov).
II. Eligibility Requirements for an EB-5 visa
Is it required that I have a degree of higher education?
No. There are no education requirements for EB-5 visa applicants.
Must I have previous business experience?
No, it is not required that an applicant have previous business experience.
What if I do not speak English?
It is not required that an applicant speak English.
Is it required to show that I am in good health?
Yes. You must prove that you and any accompanying family members are in good physical and mental health, and do not have any diseases or disorders that may present a threat to society.
Do I need to have earned the money for the investment myself?
No. For example, the money can be a gift. The only requirement would be to show that the gifted money was legally earned, and that taxes (if applicable) were paid on the gift. Another example would be using the proceeds of the sale of real estate to fund the investment.
May I apply for an EB-5 visa if I have previously been denied a visa to the U.S.?
If you have been previously denied a visa to the U.S., you may still apply for an EB-5 visa. Please contact us for legal assistance with your visa application.
Can qualified individuals from any country apply or are there restrictions based on citizenship?
With the exception of individuals from countries with which the U.S. does not hold diplomatic relations, citizens of any country may apply for permanent residence in the U.S. through EB-5 investment program. As long as the applicant is able to leave his home country and has sufficient investment capital, a qualified immigration lawyer can assist the applicant with the process of obtaining an EB-5 visa.
What is the most common reason for rejection of an EB-5 visa application?
In most cases when an EB-5 visa application is rejected, the applicant failed to demonstrate that he/she had legally earned his investment capital.
What other requirements are there in order to obtain an EB-5 visa?
To obtain an EB-5 visa, as with any other visa to the U.S., the applicant and any accompanying family members must meet all requirements (e.g., criminal, medical) stipulated by the immigration laws of the United States.
III. Obtaining an EB-5 visa through a USCIS-designated “Regional Center”
What are Regional Centers?
Regional Centers are entities, organizations, or agencies that focus on a specific geographic area within the United States in order to promote economic growth within that area. The regions selected are rural, cannot have a population greater than 20,000, or have an unemployment rate that is at least 1.5 times higher than the national average. Regional Centers work to increase export sales, improve regional productivity, create new jobs, and increase domestic capital investment. Regional Centers are designated by the U.S. Citizenship and Immigration Services.
What are the benefits of investing in Regional Center projects?
Investing in an approved project satisfies all the requirements for the EB-5 visa program. The investor does not have to worry about presenting a business plan for approval from the U.S. Citizenship and Immigration Services.
It is easier to satisfy the job creation requirements in a Regional Center, which is important to ensure that the condition is removed after the two-year period. Regional Centers are permitted to count both jobs that were created as a direct result of the investment (e.g., construction job), and as an indirect result (e.g., suppliers of materials for the construction job).
The investor is not required to take an everyday role in the management of his investment.
The minimum investment for Regional Centers ($500,000) is half of the required capital for most investments for an EB-5 visa. ($1,000,000)
The investor has the opportunity to work together with other investors on a project.
The investor may live and work anywhere in the United States; he or she is not obliged to live in the area where the investment is.
What are the financial risks involved with the Regional Center investment projects?
All investments are risky by nature and the Regional Center projects are not exceptions. Under the law, the Regional Center cannot guarantee profit or the return of the principal investment.
How can I get involved with the Regional Center investment program?
Because we work with several Regional Centers, we are able to provide a menu of options for investors. We are lawyers and thus do not seek to “promote” one Center over another. We know the advantages and disadvantages of each of the Regional Centers, provide objective information, and recommend that investors visit the U.S. and meet with the managers of the Centers before making a decision. Because of the increasing popularity of the Centers, particular projects may sell out quickly, with new ones offered on a monthly basis.
Please contact us if you have questions about the projects or need legal assistance with the application process for an EB-5 visa.
General Information
Frequently Asked Questions about the EB-5 program
EB-5 Visa: Step-by-Step
In The News
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For more Regional Center investment and EB5 visa information call our office on
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Program Summary
A Green Card or Permanent Residency gives the holder the right to live and work anywhere in the US.
There are many visa categories. Some allow you to apply for a green card after you have been in the USA for a specific period but most do not. The EB5 visa is unusual in that it provides you with a green card at the outset. When you emigrate, you do so knowing that you and your immediate family have Permanent Residency. You may apply for citizenship after five years.
Work or retire, the choice is yours
The current legislation enables EB5 Regional Center investors to retire to the USA and provides families (parents and children under 21) with immigration security, eliminating the need and worry of reapplying, as with most other visa categories. It also provides the flexibility to live anywhere, take any job, own and operate any business and to change employment without restrictions.
The 2003 Regional Center investment legislation was introduced as a Pilot Program, which operates for five years and is due to terminate in September 2008. We are lobbying for an indefinite extension, without which retirement and permanent US residency will no longer be available to many people.
EB5 Visa – ‘The Investment Green Card’
The USCIS (the US Citizenship and Immigration Service) refers to this category as an Investment or Employment-based Green Card since it is based on an investment in a US business which will create at least ten US jobs.
The EB5 Visa provides a green card before you emigrate. The legislation does not require you to manage the day-to-day affairs of a business; you may invest in an existing or a new business; more than one person may invest and you may be a minority owner. You may live anywhere in the US, no matter where the investment is made, and are free to do whatever you wish, be it work, run a business or retire.
An EB5 visa has three different forms:
Invest $1,000,000 into a business and hire ten employees anywhere in the USA, or
Invest $500,000 and hire ten employees in an area where the unemployment rate exceeds the national average by 150% or the rural population is less than 20,000, or
Invest $500,000 into a Government designated Regional Centre and avoid direct employment.
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EB5 visa and the 2003 Legislation
The EB5 visa, when it was introduced more than ten years ago, required a minimum $500,000 investment and the direct employment of ten US citizens. Additional legislation was introduced at the end of 2003, eliminating the need for direct employment when the investment is made into a Government designated Regional Center.
The use of a more passive Regional Center investment has transformed the popularity of the EB5 visa. A UK family invests into one of our properties every week and, worldwide, every day.
The 2003 legislation was introduced as a Pilot Program, which operates for five years and is due to terminate on 30 September 2008. We are lobbying for an indefinite extension, without which retirement and permanent US residency will no longer be possible for many people.
American Life uses an economist to quantify sufficient indirect employment before making properties available to EB5 investors. Our Regional Center is certified as a high unemployment area which keeps the minimum required capital to $500,000.
Funds for investment
Funds may come from any legal foreign or US source; including gifts, loans, executive pension funds (SIPPS), trusts and divorce settlements. Whoever receives the visa must make the investment. Borrowed investment funds qualify as long as they are not secured by the assets of the target US investment.
The basic rules are summarized on the USCIS web site at: http://www.uscis.gov/portal/site/uscis and by typing ‘investment’ into the search box, then clicking on ‘Immigration through Investment’.
Decision-making Process
Timescale
After you have invested and your attorney has submitted your visa application, EB5 visa processing takes approximately 9 months. Processing times vary and we advise that, for planning important issues such as children’s schooling, it is best to allow 12 months.
The minimum period of the investment is approximately three years. Once you have emigrated, you may apply to have ‘conditions’ removed after 1 year and 9 months in the USA. Processing takes up to six months.
‘Conditions’ removal means that your investment is no longer tied to your visa. You are now free to sell your investment.
Costs
Please be aware of all the costs:
In addition to the minimum capital contribution of $500,000, American Life, which typically sells its properties to each Limited Partnership at cost, requires a fee of $25,000 to cover a variety of formation and marketing expenses. These expenses must not be a part of the minimum capital contribution of $500,000. The $25,000 is paid to the Limited Partnership as a part of your capital contribution. (Please note that our sales brochure combines this fee with the Taroa fee below and thereby quotes $35,000.)
The agency advisory fee to Taroa Investment Company is $10,000, due upon the investment being made.
Legal fees vary according to the work involved but are unlikely to exceed $15,000.
The EB5 visa filing fee, payable to the USCIS, is $1,435 per applicant family.
The fee to the NVC (National Visa Center) is $380 per applicant.
Medical examinations are $145 for each adult and $125 for children under 15.
The total fees for a family of two adults and a child under 15 will total approximately $53,000.
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