Many governments offer programs for immigrant investors, but the USA EB-5 program remains one of the most popular worldwide. Below, we will tell you about the EB-5 visa and the conditions for obtaining such a visa.
What is an EB-5 visa?
The EB-5 visa stands for “Employment-Based Visa Category 5” and is a government investment immigration program that creates jobs in the USA. In other words, an EB-5 visa is an immigrant visa that gives the right to permanent residence in the United States.
Who can get an EB-5 visa?
The main applicants for EB-5 are usually private investors or spouses of investors (unmarried children under the age of 21 can also obtain a “Green Card” together with the main applicant).
How much do you need to invest?
Anyone wishing to obtain an EB-5 visa must invest a minimum of $800,000 in a commercial enterprise, and the invested capital must remain in the project at least until the expiry of the “Green Card”. Capital for investment may come from, among other sources, the following:
- salary savings;
- business income;
- profit from the sale of property;
- income or property received as a gift or by inheritance.
What projects should I invest in?
EB-5 projects involve many different business models and are concentrated in various industries. EB-5 project options include mixed-use retail facilities; hotels; sports stadiums; restaurants; agricultural projects; electric vehicle manufacturing; other industrial facilities; biotechnology and medical technology; entertainment centres; and office buildings.
Most EB-5 projects are usually related to real estate development, as job creation is easiest to prove in the construction industry, which is why we recommend investing in real estate to obtain an EB-5 visa.
The main advantages of the EB-5 visa for investors are:
- “Green Card” and permanent residence for the principal investor, spouse and children under 21 years of age;
- right to acquire US citizenship;
- ability to work, travel and live anywhere in the US;
- ability to enter and leave the US at any time;
- ability to start a business in the US without immigration restrictions (compared to other types of business visas);
- investors’ children can study in the US public school system;
- no language or professional experience requirements.
The procedure for obtaining an EB-5 visa for an investor:
1) General familiarization with the information on the EB-5 visa for investors
After studying the information on the EB-5 visa for investors, familiarizing yourself with the indicative list of investment projects and prioritizing your own investment preferences, you can decide whether to invest financial resources in the USA economy and obtain an EB-5 visa for investors;
2) Conclude an agreement with an immigration lawyer and start preparing sources of funds. A VigoLex lawyer will study the basic information about the investor and the necessary documentation to confirm your source of funds. If the assets are not quickly liquid, the lawyer will help you mobilize funds through legal means;
3) Identification of a project that meets your goals:
The VigoLex team will assist you in selecting a project, conduct due diligence, and ensure that all necessary legal documents are signed.
4) Transfer of funds to the project account:
After our immigration lawyers complete the process of confirming the source of the investor’s funds and ensure that all the necessary documents for participation in the project are signed, the investor transfers the investment amount to the project escrow account;
5) Submission of the I-526 petition to the USCIS. Approximately within 10 business days after submission, the investor will receive a notification under Form I-797C confirming the acceptance of the petition.
The processing time is not clearly established, but in March 2022, the USCIS published information that the processing time for petitions under the EB-5 program will not exceed 6 months. The waiting time may depend on the investment project.
During the waiting period for approval, VigoLex lawyers provide the investor with access to the portal of a specific investment project with information on the progress of the investment, and with the ability to receive important tax documents and enter bank information to receive income;
6) Obtaining a visa to enter the United States:
If you are outside of the USA at the time of approval of the EB-5 petition, our lawyers ensure that you file an immigrant visa application, and within a few months you will be able to complete the immigrant visa procedure (document verification, medical examination and personal interview) at a US consular post. Upon completion of the procedure, the investor receives an immigrant visa and the right to enter the United States as an immigrant. If the investor is already in the USA and has previously filed Form I-485 to change his or her status, then an additional entry visa is not required.
VigoLex Law Firm works only with highly capitalized developers and business owners in the United States to create high-quality investment products under the EB-5 program. We provide an individual approach to each potential investor. Therefore, if you are interested in the possibility of obtaining an EB-5 visa, we will be happy to help you.