The EB5 green card program provides a unique route for foreign investors to obtain permanent residency in the United States. Like any immigration process, the EB5 program has stringent requirements that must be met. Here are the requirements to get an EB5 green card:
Minimum Investment Amount
An individual must make a substantial investment in a new commercial enterprise to obtain an EB green card. The minimum investment required is $1.05 million. This amount can be lowered to $800,000 if the investment is made in a targeted employment area (TEA). TEAs are rural areas or areas with high unemployment. These investment amounts are subject to change over time due to inflation and government regulations.
Investment in a New Commercial Enterprise
You need to put the money into a new commercial venture, which is a for-profit company established for the continued conduct of legal business operations. This enterprise can be a sole proprietorship, partnership, corporation, or other business structure. The investment can also be made in a troubled business that has existed for at least two years and has incurred a net loss during the 12- or 24-month period before the immigrant investor’s priority date.
Job Creation Requirements
One of the primary objectives of the EB5 program is to stimulate job creation in the United States. Immigrant investors are required to create or preserve a certain number of full-time jobs for qualifying U.S. workers. The minimum job creation requirement is ten full-time jobs, regardless of whether the investment is made in a TEA or a non-TEA. These jobs must be created within two years after the investor’s conditional permanent residency has been granted.
Source of Funds
Investors must demonstrate that the capital they are investing was obtained legally. This helps to prevent money laundering and other illegal activities. You must provide detailed documentation to establish the source of funds, including tax returns, bank statements, business records, and more. If the funds were gifted, you must thoroughly document the source of the gift.
The investment made by the immigrant investor must be considered “at risk.” This means there is a chance of loss, and the investment cannot be guaranteed to generate a profit. Investments in the form of loans secured by the assets of the new commercial enterprise do not qualify under the EB-5 program. Investments intending to loan the funds to the new commercial enterprise are not considered “at risk.”
Active Engagement in Business
While the EB-5 program is designed to encourage passive investment, it requires the investor to be engaged to some extent. This doesn’t necessarily mean day-to-day management, but the investor should play a role in policy formation or decision-making. This requirement makes sure the investor is actively involved in the business’s success.
Conditional and Permanent Residency
An investor receives conditional permanent residency for two years along with their spouse and unmarried children under 21. To transition to permanent residency status, the investor must apply to remove the conditions within 90 days before the conditional status expires. This application should include evidence that the investment was made and sustained and that job creation requirements have been met.
Timely Filings and Compliance
Adhering to deadlines and complying with the rules of the program is vital. Missing filing deadlines or failing to meet the requirements can result in delays or even the application denial. Working with an experienced immigration attorney is highly recommended to navigate the complexities of the EB-5 process.
File For An EB5 Green Card Today
Applying for an EB5 green card is wise if you’re considering changing to permanent status in the US. Choosing the best EB5 regional center could significantly impact your immigration and investment options. Based on your specific investing objectives and risk tolerance, make sure your decision is well-informed. Go online to start your EB5 immigration process today.