What is the EB-5 Green Card
The EB-5 investor immigrant visa may be the answer for clients who lack other options for permanent residence as a result of our broken immigration system. Other frequently used categories of employment based Visas (EB-2: Members of Professions holding Advanced Degrees; EB-3: Professionals, Skilled, and Other Workers) face huge backlogs in processing times. The priority date for EB-5 is current. For the latest visa bulletin, click here. Moreover, as the applicant is a self-petitioner, he/she has a certain degree of control over the visa process.
There are two distinct EB-5 pathways for an immigrant investor to gain lawful permanent residence for themselves and their immediate family: the Basic Program and the Regional Center Pilot Program (RCPP). In either case, the investments must satisfy the EB-5 eligibility requirements.
The minimum amount of investment is 1 million USD. However, if the investment is made in a Targeted Employment Area, the minimum investment is $500,000. The alien investor must establish that the investment comes from accounts under his/her name and that the sources of funds are legitimate. The alien investor must place the statutory minimum amount of capital “at risk” for the specific purpose of generating a return on the capital for the entire two-year period of conditional residence. Most debt arrangements are prohibited.
If the Applicant is in the U.S., he/she can file their Adjustment of Status immediately after the Immigrant Visa petition is approved, the priority date being current. If the Applicant is outside the US, he/she will obtain the EB-5 Immigrant Visa from the Consulate abroad.
The application for the EB-5 visa is extremely complex. We must establish, by clear and convincing evidence, that the EB-5 business meets all the statutory requirements. This requires a detailed understanding of accounting, cash-flow statements, operating statements and balance sheets. Sweta is a Chartered Accountant (akin to a CPA) and has a comprehensive understanding of the paperwork that is involved in the preparation of the visa petition.
Watch the legal segment on EB-5 visa that was aired on Sitaarre TV on February 5th 2012 as a visa option available for foreign entrepreneurs.