The EB-5 Program allows foreign immigrants to obtain lawful permanent residency in return for investing in qualified job-creating enterprises. What does it mean to obtain EB-5 permanent residency?
EB-5 permanent residency or green card status allows qualified immigrant investors to live and work in the United States without conditions.
First, an EB-5 investor is given two-year conditional permanent residency when their I-526 application is approved by USCIS. Unconditional lawful permanent residency is obtained after an investor files their I-829 application and it is approved by USCIS.
Once an investor has received I-829 application approval, then they, their spouse, and their unmarried children under the age of twenty-one, are able to live in the United States permanently. Additionally, after 5 years, they can apply for United States citizenship.
What are the rights of unconditional permanent residency (green card status) in the U.S.? United States lawful permanent residents have the ability to:
- Live anywhere in the U.S.
- Work anywhere in the U.S.
- Be protected by U.S. federal, state and local law
- Access great health care
- Travel inside and outside the U.S.
- Access great schools, colleges, and universities, with the possibility of in-state tuition
- Apply for a potentially faster path to citizenship
What are the associated responsibilities? They include:
- Filing taxes on gross worldwide income
- Paying federal, state and local taxes
- Registering with the Selective Services if green card holder is a male between the ages of 18 and 25