Many people around the globe wish to gain residency and citizenship in the United States due to its high-quality lifestyle, ample opportunities, and better facilities.
But we all know that the process of acquiring a US visa is complicated. There’s one visa option that is relatively easier to obtain and guarantees residency if an individual fulfills all the requirements.
The EB-5 visa program offers residency and citizenship in the US, but to be eligible, the applicant must invest a minimum amount. The program attracts foreign nationals to contribute to the country’s economy in exchange for permanent residency with numerous benefits.
This article will discuss the EB-5 visa in detail, so if you want to emigrate to the US to fulfill your American dream, you must learn more about this visa option.
What is the EB-5 Visa Program?
The EB-5 visa is a pathway for foreign nationals to obtain permanent residency, green card, and citizenship. Interested individuals must invest in the US economy, that will create jobs for the natives. The program was created by Congress to boost the economy by attracting foreign investors.
This program, introduced in 1990, allowed investors to legally reside in the country after making a required investment in a US-approved project.
This visa program offers a stable and long-term solution for those who want residency in the US. It does not require frequent visa renewals, provides legal residency and citizenship, and secures your future in the country.
To apply for the program, you must invest the minimum required amount and meet some other conditions, and voila, you get the residency!
You must consult immigration professionals to obtain US residency by investment via the EB-5 visa program. As they have thorough knowledge, with their guidance, you will easily complete all the procedures without any mishaps.
Now, let’s know how the EB-5 visa program works.
How Does the EB-5 Program Work?
Investors can attain citizenship in the country through an EB-5 visa. But before that, they must fulfill certain requirements to move forward. Below, everything is explained in detail; have a look!
Investment Requirements
The investment requirements are:
- The minimum investment amount for the EB-5 visa program in a targeted employment area (TEA) is $800,000. The applicant must invest the amount in a US commercial enterprise
- Other than TEA, the minimum investment amount for all projects is $1,050,000
- 10,000 visas are issued each year under the program
- It must create 10 employment opportunities for the natives
Investment Options
There are two investment options:
- Direct Investment: Direct investment allows you to select a US commercial enterprise. It can be a startup or business expansion project. For this, you must have a strategic business plan that can create jobs.
- Regional Center Investment: This is managed by USCIS-approved organizations. They handle funds from multiple investors to invest in specific regional projects. The applicant must properly verify the project to ensure it will fulfill the job creation requirements.
Job Creation
The investment made by the investor must create 10 full-time jobs for US citizens. The applicant will be eligible for permanent residency only if this condition is met within the stipulated time. Let’s know how the jobs are counted:
- Direct Jobs: When the commercial enterprise where the applicant invested creates jobs for US citizens, they are called direct jobs and are counted.
- Indirect Jobs: When the investment made by the applicant increases economic activity, which eventually leads to job creation from other sources, these are called indirect jobs and are taken into consideration.
The EB-5 Application Process
Here’s a step-by-step guide to the EB-5 application process.
Step 1: Plan and Prepare
The very first step is to research the program thoroughly. Also, hire an immigration attorney who will help you throughout the process. Next, choose an investment option that suits your purpose and budget.
Organize the fund and ensure it is from a lawful source. Prepare all the necessary documents before applying.
Step 2: File Form I-526
With the help of your attorney, submit form I-526, which has details of your investment, business plan, job creation process, etc.
Step 3: Apply for Conditional Permanent Residency
Once your I-526 form is approved, you must fill out form I-485 (if you already live in US) or DS-260 (if you live outside US) to become a conditional permanent resident.
After the form is approved, you will receive conditional residency for 2 years. Ensure the investment is successfully completed and the job creation requirements are fulfilled within these two years.
Step 4: File Form I-829
If you have completed all the requirements for the program, file form I-829 before the two-year residency period ends. This form will remove the conditions on your green card so you can become a permanent resident.
Step 5: Naturalization
After all these steps, you will become a green cardholder. If you want citizenship, apply for naturalization after 5 years of being a permanent resident.
Benefits of the EB-5 Program
Look at some of the benefits of an EB-5 visa program.
- Offers permanent residency and citizenship
- Flexibility in investment decisions
- Will get to enjoy a high-quality lifestyle
- Can travel and live freely anywhere within the country
- More business and educational opportunities
- Security and Stability
Wind-Up
The United States is an excellent place to reside, and the country offers many opportunities that attract foreign nationals to wish for residency.
The EB-5 visa program is one of the best options for obtaining citizenship. Individuals must invest a designated amount to contribute to the US economy to be eligible for the program.
It is advisable to take guidance from professionals to complete the process successfully.
