Foreign Investor "Green Card" program - EB-5
EB-5 program was created for foreign person to gain permanent residency by way of investing in US business or job creating enterprise.
Program requires investor to invest a minimum of $1,000,000 (or $500,000 in Rural or Targeted Employment Areas). Investor must be engaged in the management of a "new commercial enterprise" and to create a minimum of 10 permanent full time new jobs for American workers.
For 2 years qualified Investor and his family will be provided conditional resident status. At the end of 2 years, if investment and job creation conditions are met, Investor and his family are eligible to apply and be granted permanent resident status and a consequent path to US citizenship.
Other EB-5 FAQ's
- Who is eligible to receive permanent residency?
Investor, spouse, unmarried children under 21 years old (at the time of filing I-526 petition) are eligible.
- What if Investor doesn't have any business experience?
Investor's business experience, his education, English language skills are not an issue. The only requirements are that Investor has required capital and net worth and be in generally good health. Also Investor must prove that his funds are gained by lawful means like legal business, salary, property sales, investments, inheritance, gift and anything that is lawful.
- What happens to Investor's capital if I-526 petition is denied?
When Investor submits required capital, it is held in escrow account until the I-526 petition is processed. If petition is approved - funds are moved from escrow account in to investment fund. If petition is rejected - all funds from escrow account are returned to the investor.
- Can I just purchase a home for over $1,000,000 to live in the US and qualify for green card under EB-5 program?
No. Under EB-5 guidelines, investment has to be active in nature and in commercial, for-profit enterprise that creates at least 10 jobs. Your home purchase is passive investment, it is not commercial enterprise and does not create jobs.
- Can I purchase existing business and qualify for EB-5 program?
Yes. Existing business might be a good alternative to creating new commercial enterprise but it would have to meet certain criteria. It still would have to create a net of 10 full time jobs, or "save" existing jobs if this enterprise met "failing business" definition under EB-5 guidelines. We can help you to locate and purchase existing business that would qualify for EB-5 program.
USCIS site has some more detailed information on EB-5 program. If you would like to pursue EB-5, we strongly recommend you to consult with Immigration attorney specializing in EB-5 program.
