Immigration Through Investment—The EB-5 Program
The Employment Based 5th Preference category (EB-5) Immigration Through Investment Program grants non-Americans and their immediate family members (i.e., spouse and children under the age of 21) permanent residency in the United States and the path to U.S. citizenship in a very timely manner.
To apply, an immigrant investor must invest at least $1 million in a commercial enterprise and create a minimum of 10 direct U.S. jobs in the process. But, if the investment is made in a specially designated “targeted employment area” (TEA) suffering from high unemployment or economic crisis, then the immigrant investor is required to invest only $500,000 and create 10 direct jobs. The immigrant investor and his/her family are then issued a two year “conditional green card” to immigrate to the United States.
One year and nine months after receiving conditional permanent residency, the immigrant investor must file a final application demonstrating that the investment created at least 10 full-time permanent jobs for U.S. workers. Upon such a showing, the conditional status is removed and the immigrant investor and his/her family are granted full "unconditional" permanent residency.
Regional Centers
To simplify the program for foreign investors and allow for more efficient investment, the United States Citizenship and Immigration Services (USCIS) has designated certain areas throughout the country as “regional centers.” Regional centers are operated by independent investment companies that generally pool individual investments into real estate and business opportunities to diversify their investment risk. One such regional center is the City of New Orleans Regional Center, operated by NobleOutReach, LLC. www.nobleoutreach.com.
An immigrant who invests in a USCIS designated regional center must still invest $500,000 and demonstrate the creation of at least 10 new jobs after two years. However, such job creation may now be “indirect,” as well as “direct.” Furthermore, the immigrant is not required to live in the same city or state where the regional center is located, but can choose to reside anywhere in the United States, and, moreover, is not required to “run” a business on a day-to-day basis, though must still maintain an active role in determining policy and operations of the investment project(s). Often, for a fee, the independent investment companies at the various regional centers maintain the investments and provide the information needed to demonstrate the creation of at least 10 direct or indirect jobs when the investor immigrant seeks to remove the conditional status on his/her green card.
If you are interested in learning more about this exciting program, contact us to set up an appointment and come in to discuss the options.
EB-5 Investor Visa: Frequently Asked Questions
Q. Can I get U.S. green card (permanent resident status) through investment in the U.S.?
A. Yes, as 10,000 immigrant visas per year are available to qualified individuals seeking permanent resident status on the basis of their engagement in a new commercial enterprise. This visa is commonly referred to as the EB-5 Investor Visa.
There are two ways to invest in the U.S. under this program:
• Own and Operate Your Business: This method requires an investment of $1 Million U.S. currency (unless you are in a “targeted employment area,” whereby the investment requirement is $500,000) and that the investment directly creates at least 10 full-time jobs within two years.
• Invest in a Certified Regional Center: This method requires an investment of $500,000 U.S. currency (minimum) and that the investment directly or indirectly creates 10 full-time jobs within two years. With an investment in a regional center, there is no requirement that the immigrant investor open or individually run a business or reside where the regional center is located. (See www.nobleoutreach.com for more information on NobleOutReach, which operates the certified New Orleans Regional Center.)
Q. What is the process to obtain lawful permanent residency through investment?
A. Obtaining lawful permanent resident status is a three-part process:
• First, an I-526 petition is filed, demonstrating that you have the required funds, that the funds were obtained from a lawful source, that the funds have been (or are in the process of being) invested, and that the investment meets USCIS requirements.
• Once the I-526 is approved, you are eligible to apply for an immigrant visa at your nearest U.S. consulate (if you are outside of the U.S.) or for adjustment of status (if you are already in the U.S.). If approved, you are given conditional lawful permanent residency for two years.
• Ninety (90) days before the end of two years of being a conditional resident, you must file form I-829 to remove the conditional status by demonstrating that the required jobs have been created by your investment. If your I-829 application is approved, you are granted unconditional lawful permanent resident status and are eligible to apply for U.S. citizenship after three more years.
Q. What if I am already in the U.S. on another visa status?
A. An individual may file an I-526 petition if they live abroad or are already in the U.S. The I-526 petition process remains the same. If, however, you are already in the U.S. after the I-526 is approved, you may then file an I-485 Application for Adjustment of Status to Permanent Resident, as opposed to filing for a visa with your local U.S. consulate. Of course, if you are not yet in the U.S., you must file for an immigrant visa with your local U.S. consulate. We can advise you more specifically on the process in a direct consultation.
Q. If I get a green card, do I have to live in the U.S.?
A. Yes, an applicant for conditional or permanent residence to the U.S. must intend to immigrate to the U.S. and maintain as their primary residence a home in the United States.
Q. Can I travel?
A. A conditional or permanent resident is entitled to travel freely for less than six months at a time outside of the United States. If an individual needs to be outside of the U.S. for more than six months, he/she may apply (up to three times) for a travel (re-entry) permit, which is valid for two years. This travel permit establishes that the resident is not abandoning U.S. residency, despite the extended absence. However, time spent outside of U.S. is counted against the 30 month physical presence requirement for citizenship.
Q. Can I bring my family, and do they get permanent residency (a green card) if I invest in the U.S.?
A. A qualifying immigrant investor is eligible to sponsor his/her immediate family, which includes a spouse and all children under the age of 21 years old. All members of the immediate family are granted conditional permanent residency upon approval of the I-526 and all are eligible to apply to remove the conditions after two years.
Q. Can I sponsor my 21 year old or over child?
A. While a child who is 21 years old (or older) cannot apply for residency under the parent’s immigrant investment application, a parent may gift that child the required investment funds in order for the child to apply individually as an immigrant investor.
Q. What are the fees associated with applying for an investment visa?
A. There are filing/application fees, legal fees, and investment management fees if an immigrant invests in a regional center. The current government filing/application fees are:
I-526 Application: $1,435
I-485 Adjustment of Status: $1,010 (includes biometrics) per individual, if already in the U.S., ($600 or $930 for applicants under 14 years of age)
Visa application fees: $470 per individual, if outside the U.S.
I-829 application to remove conditional status after two years: $2,930 for primary applicant only, plus an $80 biometric fee for each dependent
Legal fees are based on family size. Please contact us for more information about legal fees.
For information about the New Orleans Regional Center management and application fees, please contact NobleOutReach directly.
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The information you obtain at this site is provided for informational purposes only, and is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your particular situtation.