If you want to attain permanent residency status in the U.S. through the EB-5 Program, you will need to apply for a conditional green card.
What is a conditional green card? How do investors get one?
A conditional green card is a temporary green card. If an investor fulfills particular conditions then they become eligible for a permanent green card. The conditional green cards are valid for two years. The permanent green cards last for 10 years.
In terms of what benefits conditional green card holders have compared to ones without conditions there aren't any differences except that conditional green card holders must file an application to remove the conditions at the end of a two-year period.
Investors can obtain conditional green cards by investing in the EB-5 Program. The first step for a foreign investor in the EB-5 process is to file the I-526 Petition.
Once the I-526 Petition is approved, an EB-5 investor can then file for conditional permanent residency also known as a conditional green card. Conditional permanent residency is approved for a two-year period.
After two years, the EB-5 investor will file the I-829 Petition to remove the conditions on the green card. The I-829 Petition must show that the 10 qualified jobs were created and that the funds invested in the qualified EB-5 project were sustained.
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