US offers several pathways to foreign investors to become eligible for a green card. One of the ways to invest in America, create jobs for Americans and become qualified for the US green card, is through the EB-5 Visa Program.
EB-5 Visa Program provides a fast-track for foreign investors to acquire residency and possibly citizenship in the US by making a specific amount of investment in the American economy.
Here’s what you need to know about the EB-5 Program.
What is the EB-5 Visa Program?
The EB-5 Immigration Investment Program was established in 1990 and was revisited by Congress in 2022; reforms were made to the program that remain current and active till 2027.
Since 2022, EB-5 Reform and Integrity Act rules have governed the program and immigrant visas are authorized under the Regional Center Program through September 30, 2027.
EB-5 Visa Program aims to stimulate the US Economy by allowing foreign investors and their eligible family members to immigrate to the US, meeting the requirements of job creation and capital investment.
What is the Capital requirement for eligibility?
The EB-5 Program requires you to invest (at a minimum) between $800,000 USD and $1,050,000 USD, depending on which of the pre-approved avenues you wish to go through.
The minimum capital required to be deployed in a Targeted Employment Area is $800,000 (includes infrastructure projects,) while for the High-Employment Area it is $1,000,000.
TEAs are either rural areas or areas that experience high unemployment (at least 150% the national average).
A key point to note is that the US Government or the USCIS (United States Citizenship and Immigration Services) does not guarantee a return on your investment.
The USCIS also requires that the Capital be acquired through lawful means and not include bonds, convertible debt, obligations, or any other debt arrangements.
What is the job creation requirement for eligibility?
A key component of the EB-5 Program is the creation of at least 10 qualifying full-time employees. These requirements change basis whether the investor’s enterprise is located in a ‘regional center’ or not.
These full-time employees cannot be the investor themselves, or the investor’s spouses, children etc., and must be either US Citizens, Permanent Residents or legal immigrants authorized to work in the US.
Given that these requirements are met, the investor is granted an EB-5 Visa to enter the country and is provided with a ‘conditional’ Green Card for a period of 2 years.
Regional Centers
What is a Regional Center, you may ask? And how does that affect your investment? An EB-5 regional center is defined as an economic unit, public or private, in the US, involved with promoting economic growth. If an EB-5 Investor decides to put their investment into a regional center, it gives the commercial enterprise more flexibility regarding the employees that they can use to show proof of job creation.
EB-5 Program Caps
EB-5 investors fall under the employment-based 5th preference category. Each year, EB-5 visas of only 7.1% of the worldwide level can be issued; of which 32% are reserved as follows: 20% reserved for qualified immigrants who invest in a rural area; 10% reserved for qualified immigrants who invest in a high-unemployment area; and 2% reserved for qualified immigrants who invest in infrastructure projects. The remaining 68% are unreserved and are allotted for all other qualified immigrants.
The EB-5 Reform and Integrity Act created new EB-5 immigrant visa set-asides for qualified immigrant investors. Each fiscal year, a certain percentage of EB-5 immigrant visas are available to qualified immigrants who invest in specific areas: Rural Area 20%, High Unemployment Area 10% and 2% for Infrastructure Projects.
EB-5 Visa to Green Card
While the entire process from application to citizenship takes at least 9 years, the EB-5 Program would allow entry into the US and would grant you the conditional Green Card in approximately 2 years, which is by far one of the fastest ways to attain lawful permanent residency.
After 24 months, the USCIS inspects that your capital is still invested and the investor has created and kept the 10 Full-Time jobs through the course of the 2 years, the investor is eligible to file an I-829 to become an Unconditional Permanent resident and attain a green card.
The EB-5 Program continues to be one of the fastest, albeit expensive, ways to become a US resident, and an excellent option for wealthy individuals to settle in the US permanently and who hope to attain citizenship in the future.