The U.S. immigration law offers a pathway for foreign investors to become lawful permanent residents through the EB-5 Immigrant Investor Program. Under this program, qualifying investors can obtain a U.S. Green Card by investing a significant amount of capital in a new commercial enterprise that will benefit the U.S. economy and create at least 10 full-time jobs for qualifying U.S. workers. This program is a part of the fifth preference employment-based (EB-5) category of immigrant visas, offering a unique opportunity for those looking to invest and establish themselves in the United States.
To qualify for the EB-5 visa, investors must meet specific investment criteria. Generally, the minimum investment required is $1,050,000. However, if the investment is directed toward a Targeted Employment Area (TEA) or an infrastructure project, the minimum requirement drops to $800,000. A Targeted Employment Area refers to areas with higher-than-average unemployment rates or rural regions in the U.S. Infrastructure projects include sectors such as transportation, energy, and public services. The investment must go into a new business enterprise, which must then create at least 10 full-time jobs for U.S. citizens or legal residents.
For instance, suppose a European investor chooses to invest in a real estate development project located in a designated TEA in Texas. Not only does this meet the $800,000 minimum investment requirement, but it also promises to create 15 full-time jobs for local residents. The investor submits all necessary applications under the EB-5 program, goes through the approval process, and eventually obtains a U.S. Green Card.
If you are already in the United States and wish to adjust your status to that of a lawful permanent resident through the EB-5 program, you can apply for "Adjustment of Status." To apply, you need to file Form I-485, Application to Register Permanent Residence or Adjust Status. The applicant must demonstrate that they meet several key criteria, including having entered the U.S. legally and being physically present in the country when filing Form I-485. Additionally, you must have an approved Form I-526, Immigrant Petition by Alien Entrepreneur, which confirms your eligibility under the EB-5 program. The applicant must also ensure that an immigrant visa is immediately available when filing the application.
For those who have already had their Form I-526 approved, they can submit their Form I-485 either simultaneously with the I-526 or after the I-526 approval. If an immigrant visa is available at the time of filing, applicants can file I-485 while waiting for the I-526 approval or once it has been granted.
Apart from the I-485 form, applicants need to submit various supporting documents. These include identity verification documents, a birth certificate, a passport, immigration records, and proof of legal status in the U.S. In some cases, applicants may also need to submit a medical examination report (Form I-693) or apply for waivers if they have any grounds of inadmissibility. For example, if the applicant has overstayed their visa, they may need to file Form I-601 to seek a waiver.
Moreover, family members such as the spouse or unmarried children under 21 of the principal EB-5 applicant can also apply for a Green Card as derivative applicants. These family members will submit their own I-485 applications and provide evidence of their relationship to the principal applicant, such as a marriage certificate or birth certificate. The eligibility of these derivative applicants is contingent on their relationship with the principal applicant and their legal status in the U.S. at the time of application.
For example, if the EB-5 investor’s wife and child are also in the U.S., they can apply for their Green Cards alongside the principal applicant. All derivative applicants must meet similar conditions, including having entered the U.S. lawfully and being physically present in the U.S. at the time of filing their I-485 forms.
Another important aspect of the Adjustment of Status process is work and travel authorization. If your I-485 application is pending, you may apply for an Employment Authorization Document (EAD) by filing Form I-765, Application for Employment Authorization. Additionally, you can apply for Advance Parole by submitting Form I-131, which allows you to travel abroad temporarily without abandoning your application for permanent residency. Without an Advance Parole document, leaving the U.S. while your I-485 is pending could result in the abandonment of your application.
It is also important to note that filing an EB-5 petition requires paying various fees. Each form submitted, including Form I-485, carries its own filing fee unless you are eligible for a fee waiver. Additionally, medical examination fees, document translation fees, and other associated costs may also apply. Applicants must be sure to fully understand and comply with these requirements to avoid delays in the process.
While the process of obtaining a U.S. Green Card through the EB-5 Immigrant Investor Program may be complex, it provides a compelling opportunity for those seeking permanent residency in the United States. Not only does it offer a path for investors to gain legal permanent status in the U.S., but it also allows them to contribute to the U.S. economy by creating jobs and investing in new ventures. Moreover, it offers investors and their families access to the advantages of living in the U.S., including quality education, healthcare, and expanded career opportunities.