The EB-5 visa program, like the green card, is an immigration program designed to become a US citizen.
Unlike Greencard, the EB-5 visa requires a certain amount of investment, starting a business in the United States or purchasing a business or financing an investment program.
The basic requirement of the Eb-5 program is to invest in 500 thousand USD or 1 million USD, to participate in a regional development program or to start a business or to buy an existing business and to employ 10 US citizens. The basic condition that determines the amount of investment you need to make is where the region or regional development project will be invested.
How Eb-5 Program Works
The EB-5 visa program, like the green card, is an immigration program designed to become a US citizen.
Unlike Greencard, the EB-5 visa requires a certain amount of investment, starting a business in the United States or purchasing a business or financing an investment program.
The basic requirement of the Eb-5 program is to invest in 500 thousand USD or 1 million USD, to participate in a regional development program or to start a business or to buy an existing business and to employ 10 US citizens. The basic condition that determines the amount of investment you need to make is where the region or regional development project will be invested.
How to Determine the Investment Amount for Eb5 Visa
The regions, which are generally over 7.5% of unemployment, are considered by the US government as priority regions for investment. If you establish a business in these regions or invest in an investment project in these regions, the lower limit is 500 thousand USD. These areas are not limited to small cities and rural areas. Sometimes a particular region of a big city can also be a priority for investment.
EB-5 Visa Processing Times
Following the EB-5 visa application, it takes about 2 years to obtain a temporary immigration visa if your investment results in success.
EB-5 visa application chart:
Step 1: Your immigration attorney is required to complete the I-526 form and prepare your application dossier on average: 2-4 weeks
Step 2: Processing time of your I-526 application: 16 - 24 months
Step 3: It takes 6 months to get a temporary green card with the Form I-485 (Status Adjustment) process. If you are residing outside the US, you will receive your green card by contacting the consulate, which takes approximately 6 months.
Step 4: Approximately 2 years after receiving the temporary green card, you can apply for a permanent green card with the I-829 application. This process takes about 2 years.
Important Notes on Regional Development Programs
Investing in regional development programs is a safe way to get an EB-5 visa and not want to start a business on its own. As of 2019, there are nearly a thousand regional development programs throughout the USA. The reliability level of these programs or the rates of profit they offer to their investors is variable.
When you participate in a regional development program, according to the content of the program, the return of the money you invested lasts 4-5 years on average. When applying for this type of project, it is important that you investigate the reliability of the project, because the failure or failure of the project may result in both the rejection of your EB-5 visa application and the loss of your deposit.
EB-5 Visa Costs
The breakdown of the costs to get an EB-5 visa is as follows
- Your main investment amount: 500.000 USD or 1.000.000 USD
- An administrative fee charged by the regional investment firm or EB-5 project manager: 50.000 USD
- The immigration fee: $ 15,000
- I-526 (immigrant petition) file fee: 3,675 dollars
- Form I-485 (permanent residence registration) file fee - $ 1,225
- I-829 (Permanent Residence) file fee: USD 3,835 (surcharge of USD 85 per family member)
There Is No Quota Or Restriction For Countries For Eb-5 Visa
For EB-5, up to 10,000 applicants are accepted each year. Depending on the distribution of applications, up to 700 applications are taken from each country. Only China is not subject to restrictions. The main reason for this is the fact that the Chinese citizens are not given other business and investor visas such as E1 and E2, and the demand for Eb-5 from China is very high. It is known that about 80% of the 10.000 EB-5 visa applications that come every year come from the Chinese, while for other countries the I-526 file review period lasts no more than 2 years, while for the Chinese it is known that this period is extended to 5 years for exceeding the quota.
Who can apply for an EB 5 visa?
Everyone can apply to the Eb-5 visa program. In this program, you are able to legally prove how you have obtained the financing cost which is the only criterion of the investment. For example, when preparing your application file for an investment of 500,000 USD, you need to prove that this money was obtained from a sale of a house with sales documents and bank transfer receipts.
Apart from this, there is no requirement for any person who applies for EB-5 visas, such as knowing English, education level, and business background.
The scope of the EB-5 visa family members
The spouse of an EB-5 visa applicant and children under 21 years of age are entitled to citizenship with the applicant upon successful completion of the visa process. It is sufficient for children to be under the age of 21 when they submit the I-526 form at the beginning of the Eb5 visa application.
Step-by-Step EB-5 Process
1. Area to be invested and Selection of job, Selection of an immigration lawyer
An EB-5 visa will enable you to successfully complete the investment or the business you will have for 2 years. Therefore, it is important that you do serious research in this area. Immigration law firms that you will authorize to prepare and follow up on your EB-5 visa file will often help you with regional investment firms. Consult your lawyer about the projects you plan to invest in or the legal requirements for the work you plan to build.
2: Capital Investment and I-526 Petition
If you are investing in the Project Targeted Employment Area (TEA) or if you wish to establish your own business, the investment amount is made to a deposit account in a US bank. Your immigration lawyer then provides evidence of your investment with the I-526 petition submitted to USCIS. The period of review of USCIS I-526 petitions is 12 to 18 months.
3- Two-Year Conditional Permanent Residence
In the third step of the EB-5 application process, if the investor has set up a business, by employing at least 10 US citizens, we must prove that he has been doing this for 2 years in accordance with other legal requirements. If he invested in a regional investment company, he should prove that the regional investment company is continuing its activities. Upon the approval of these conditions, the I-526 petition is approved by USCIS and after 2 years as a US citizen, they are entitled to receive conditional residence. At this stage, the investor has an existing status in the US:
If the EB-5 investor already has legal status in the US, it fills in the I-485 form
If an EB-5 investor has invested in, for example, a regional investment program and continued to reside in his or her country of residence, he/she will contact the US consulate in his country and fill out the DS-230 form.
I-485 forms such as the I-526 form should be prepared by immigration lawyers.
4- Unconditional Permanent Residence and I-829 Petition
Applicants are required to fill out the I-829 petition to USCIS 90 days before the end of their second year of residence. USCIS turns immigration status into permanent green card 6-8 months after receipt of I-829 petition. The investor, his spouse, and single children under the age of 21 will have the option of becoming a US citizen.
In this section, we tried to answer the questions listed below. If you have detailed questions, please specify them in the comments section;
In this section, we tried to answer the questions listed below. If you have detailed questions, please specify them in the comments section;
- How can an investor immigrate to the US?
- How much do I need to invest in us to get a green card?
- How much does the EB-5 visa cost?
- What is the EB 5 immigrant investor program?
- What is an investment visa for the USA?
- Can I get a green card if I buy a house in the USA?
- How can I live permanently in the USA?
- Do EB 5 investors get their money back?
- How much is it to buy a green card?
- EB-5 regional centers
- What is the wait time for eb5?
- How many EB 5 visas are issued each year?
- What Is an I-829 Petition?
- I-829 Instructions
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