The EB5 visa is also known as the Immigrant Investor Program, and it is an important part of source of investment for many US development projects. It attracts billions of dollars into the country and creates thousands of jobs annually.
The EB5 program is the only US visa program that allows foreign investors to obtain a green card in the US. It requires the investor to invest at least $1 million in some cases, and $500,000 in others. The investment also must create at least 10 jobs.
This program is also called the Employment-Based Fifth Preference Green Card Category, and currently has a cap of 10,000 visas per year.
What Are the Types of Investments You Can Make?
First, the investment capital you use to apply for the visa must be from a legal source. The investment can be provided to the government in cash, cash equivalents, inventory, equipment, or tangible property. Also, an immigrant investor may not invest in activities that are not commercial. Some of the commercial activities in which you can invest are:
- Sole proprietorships
- Joint ventures
- Holding companies
- Business trusts
- Corporations
- Limited and general partnerships
- Publicly or privately owned businesses
Also, if you invest in a troubled business in the US, you could be eligible for this visa. People who want to invest in a troubled business with plans to help it from going bankrupt must show that the business has been operating for a minimum of two years. You also must show that the business has annual losses of 20% of its net worth over the last two years before you invested.
What Documents Do You Need to Apply?
There are several supporting documents that you need to provide to the government to show you can afford to make a large investment in the US. You also must show that the investment will create jobs and that you are eligible for a visa and green card. You will probably need to submit most or all of these documents:
- Valid passport
- Birth certificate for you and any family you want to bring
- Marriage certificate
- Court and police records
- Medical documents
- Bank statements
- Other evidence showing sources of capital
- Income statements for the last quarter
- Income tax returns
- Business registration records
- Contracts
- Evidence that you will create at least 10 jobs
You also will need to submit a Form I-526, Form I-829, filing fee, two passport photos, and possibly a Form I-485 if you want to adjust status in the US.
EB5 Processing Times
The processing time for this visa program can vary. The initial petition requires Form I-526 and can take from 47 to 71 months to process. After that, you need to see if there is an EB5 visa available. As of this writing, there is no waiting time for EB5 applicants. If you live overseas, it may take four to six months for your green card to be approved through consular processing. If you live in the US it can take anywhere from a few months to a few years before there is a decision made on your adjustment of status.
EB5 Visa Interview
You also need to attend a visa interview to get your EB5 visa. If you are abroad, this will occur at the closest embassy or consulate. If you are in the US, this interview will happen at your local USCIS office.
Getting an EB5 visa is a complex process that takes a considerable amount of time and planning. If you want to get this investor visa and live permanently in the United States, it is wise to invest in hiring an immigration attorney to represent you during the application process.