The EB-5 investor visa is a U.S. green card program that allows foreign nationals to gain permanent residency by investing in a U.S. business. This visa also grants permanent resident status to the investor’s spouse and unmarried children under the age of 21. Introduced in 1990, the EB-5 program aims to boost the U.S. economy by creating jobs and attracting foreign investment.
How Long Does it Take to Get an EB-5 Visa?
Processing times for an EB-5 visa depend on various factors, but here is a general overview:
Form I-526 (Immigrant Petition by Standalone Investor):
Takes about 53.4 months to process. This form ensures that the investor meets the eligibility requirements and the investment is legitimate.
For Applicants in the U.S. (Adjustment of Status):
Once I-526 is approved, applicants can file Form I-485 (Application to Adjust Status) to get their green card. This process typically takes 6 to 8 months.
For Applicants Outside the U.S. (Consular Processing):
After I-526 approval, applicants must file Form DS-260 (Immigrant Visa Application) and attend an interview at a U.S. Embassy or Consulate. The process can take 2 to 3 months, depending on the country.
Form I-829 (Petition to Remove Conditions):
After receiving a conditional green card, the investor must file an I-829 to remove conditions and become a permanent resident. This step can take between 22 to 48.5 months.
How Much Does the EB-5 Visa Cost?
The cost of obtaining an EB-5 visa varies based on where the applicant is filing. Here’s a breakdown:
For Applicants Inside the U.S. (Adjustment of Status):
- Form I-526: $11,160
- Form I-485: $1,440
- Form I-829: $9,525
- Total: $21,130
For Applicants Outside the U.S. (Consular Processing):
- Form I-526: $11,160
- Form DS-260: $325
- Affidavit of Support Fee: $120
- Form I-829: $9,525
- Total: $22,225
These costs exclude investment and administrative fees, which vary depending on the investment choice.
Eligibility for the EB-5 Visa
To qualify for the EB-5 visa, applicants must meet the following criteria:
Investment in a U.S. Business:
The business must be a for-profit entity, such as a corporation, partnership, joint venture, or sole proprietorship. It must have been created after November 29, 1990, unless the investment involves a significant restructuring or expansion of an older company.
Capital Investment:
The minimum required investment is $1,050,000 unless the business is in a Targeted Employment Area (TEA)—a rural area or one with high unemployment. In TEAs, the minimum investment is $800,000. Investments may be made in the form of cash, equipment, inventory, or even secured debt.
Job Creation:
The investment must create at least 10 full-time jobs for U.S. workers within two years of the investor’s entry into the U.S. Jobs can be either direct (created by the business itself) or indirect (created by the business’s activities, especially if the investment is made through a regional center).
How to Apply for the EB-5 Visa
The EB-5 application process involves several steps:
Submit Initial Petition (Form I-526):
The applicant must submit Form I-526, showing evidence of investment and the job creation plan. If investing in a Targeted Employment Area, the applicant must also demonstrate this.
Submit Green Card Application:
Once Form I-526 is approved, the applicant must apply for a green card:
- For applicants outside the U.S.: They must file Form DS-260 and attend a visa interview.
- For applicants already in the U.S.: They can file Form I-485 for adjustment of status.
Receive Conditional Green Card:
After approval, the investor and their family receive a conditional green card, valid for two years.
Remove Conditions (Form I-829):
After two years, the investor must file Form I-829 to remove the conditions from their green card, proving that the business is still operating, the investment is still valid, and the jobs are being maintained. Once the conditions are removed, they will receive a permanent green card.
FAQs About the EB-5 Visa
What is the EB-5 visa?
The EB-5 visa allows foreign nationals to invest in U.S. businesses in exchange for a green card. The program is designed to create jobs and stimulate economic growth, especially in high-unemployment or rural areas.
How do I qualify for the EB-5 visa?
To qualify, you need to invest in a qualifying U.S. business. Your investment must be at least $1,050,000, or $800,000 if in a TEA. You must also create or maintain 10 full-time jobs for U.S. workers.
What are the benefits of the EB-5 visa?
The EB-5 visa offers several benefits, including permanent residency in the U.S., access to world-class healthcare and education, and the potential for U.S. citizenship. Investors also enjoy the flexibility to live, work, and travel freely within the U.S.
How long does the EB-5 process take?
Processing times can vary but typically take several years. The I-526 petition can take about 4 to 5 years, and it may take another 2 to 3 years to remove the conditions from the green card.
Can I add a new family member during the process?
Yes, you can add a new family member by contacting USCIS and submitting the required documents, such as proof of relationship.
What if my petition to remove conditions is denied?
If your petition to remove conditions is denied, your conditional green card will expire, and you may be asked to leave the U.S.
The EB-5 visa offers a unique opportunity for foreign investors to secure a green card by investing in U.S. businesses and helping create jobs. It’s essential to meet all investment and job creation requirements, as well as the necessary paperwork, to successfully navigate the process and enjoy the benefits of U.S. permanent residency.
