Interested in the 5 simple EB-5 steps to citizenship?
The EB-5 Immigrant Investor Program offers foreign investors the opportunity to gain U.S. citizenship for not only themselves, but also their spouses and their children. What are the steps? There are only 5 EB-5 steps for interested investors.
What are the 5 EB-5 steps?
- Research the EB-5 Program, ensure you are qualified, and select an EB-5 project.
The EB-5 Program can be complex, but it doesn't need to be. If an EB-5 investor does the necessary due diligence they will be able to find a strong EB-5 project that matches their interests.
An EB-5 investor should find out everything they can about the EB-5 Program. Do they meet program requirements? Can they provide the necessary documents proving their sources of funds are from lawful sources? Will they choose a direct investment for $1,000,000, or will they choose to invest in a targeted employment area for the reduced investment amount of $500,000.
What are the different paths an investor can take? What type of business and industry project will they invest in? Where is the project located and why does that matter? Will the investor choose to invest in the Regional Center Program? Does the regional center they have chosen have a strong reputation?
- Starting the petition process.
If the investor has determined that they are qualified to invest in the EB-5 Program and have found a suitable project, then what? Then they start their application which begins with making the required capital investment of either $500,000 or $1,000,000 into the escrow account for the EB-5 project of their choosing.
Once this investment has been made, then the investor will need an immigration attorney to file their I-526 petition with USCIS. What is an I-526 petition? It's the I-526 Petition by Alien Entrepreneur. An immigration attorney files this petition with evidence that the investor is in the process of investing the required capital into an EB-5 project or that they have already invested the entire amount into an EB-5 project. The immigration attorney will also provide evidence that the investment funds came from lawful sources. They are also required to present a business plan that provides evidence that the EB-5 project will create 10 fulltime jobs for qualified U.S. workers.
- The investor moves to the U.S.
If USCIS approves the I-526 petition, the EB-5 investor is then given two-year conditional residency in the U.S. The investor must live in the United States during this period.
- The investor removes the conditions to become a permanent resident.
In order to gain permanent unconditional residency the investor must file the I-829 petition after 3 months before the end of their 2 years of conditional residency.
What is the I-829 petition? It's the I-829 Petition by Entrepreneur to Remove Conditions. In order to be approved, USCIS requires all EB-5 investors to provide evidence that they invested the required capital in a qualified EB-5 project, that the investor sustained their investment in the EB-5 project, and that the investor created (or preserved) 10 full time jobs for qualified U.S. workers.
- Path to citizenship.
The EB-5 investor, their spouse, and their children (as long as they're unmarried and under the age of 21), can become U.S. citizens 5 years after they received conditional U.S. residency.
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