EB5 Process in 8 Steps
In order to become a qualified immigrant investor in the EB-5 Regional Center Program, an investor will typically take the following steps:
- The investor registers on the regional center’s web site. Potential investors are also invited to call or send an email for a telephone consultation.
- During the telephone consultation, the investor and the regional center program agent will discuss the required commitment of funds and required documentation to prove the investment and tracing of funds.
- A full prospectus will be sent upon request to interested investors who have registered, once the project sponsor determines that the investor is accredited and following any required waiting period. Investors can then investigate the financial viability of the investment, and the record of accomplishment of the project principals.
- The Escrow Agent will receive the total investment. The investment funds will be released to the EB-5 Company upon satisfaction of the following conditions:
- The approval of the regional center I-924 application,
- The filing of the investor’s I-526 EB-5 petition, and
- Subscription of the project up to the minimum-offering amount.
- Documents to be filed with the USCIS and relevant documentation and application process will be preferably prepared by an experienced law firm, including the I-526 Petition for Alien Entrepreneur with the USCIS. This petition requests USCIS to certify the applicant and the investment as eligible for EB-5 status. The investor will sign all necessary application documents for USCIS.
- Upon approval of the Petition, (a) if the investor is in the United States, he/she may apply for Adjustment of Status to Conditional Resident status. (b) If abroad, the investor must wait for notification from the National Visa center to prepare documents for the Immigrant Visa interview at the U.S. Consulate or Embassy in his/her home country. The purpose of the Adjustment of Status or Immigrant Visa interview is to ensure that the investor is not subject to grounds of exclusion as determined by law.
- During the conditional permanent residency period, the investor must file the I-829 petition with USCIS confirming that the full investment has been made and that 10 jobs were or are in the process of being created to maintain legal status. The investor files the I-829 application to remove the Conditional Resident status between 21 to 24 months after Conditional Resident status is approved.
- Once conditional resident status is removed, a full Green Card is granted for indefinite permanent resident status and work permission in the United States. U.S. Citizenship is possible 5 years after conditional residency is approved, upon satisfaction of residence and other criteria.