eb5exclusive

Wealth investors who are residents of a country other than the U.S. but are seeking citizenship in the country have no doubt heard about the EB-5 visa program, which allows them and their family a quick route to a green card in exchange for a significant investment in an American business.

The EB-5 visa program is receiving more attention now than ever before. According to the U.S. State Department, the number of approved EB-5 visas has nearly tripled recently, from 1,443 issued visas in fiscal year 2008 to 4,218 in 2009.

But while the immigration initiative may have peaked the interest of potential investors, these parties may be completely in the dark when it comes to the procedures and protocols in becoming an EB-5 status immigrant.

Immigration attorneys and EB-5 consultants can guide interested parties through the entire EB-5 application process, which essentially boils down to three steps.

Before an investor can conduct business under an EB-5 regional center investment program, or target some other business for investment, he or she must petition the U.S. Citizenship and Immigration services for an EB-5 visa

First, each applicant for an EB-5 visa must submit a Form I-526 Petition for Alien Entrepreneur to the U.S. Citizenship and Immigration Services for approval. This form requires that all investors document evidence that they have selected a business or project in which to invest at least $1 million, or an EB-5 regional center to endow with at least $500,000. The I-526 must also provide evidence that the investment can create at least 10 new jobs.

Second, applicants must either file an I-485 application to adjust their immigration status to that of a legal resident, or apply for a visa at a U.S. consulate or embassy outside of the country.

Successful EB-5 visa applicants are given conditional residency for two years.

At least 90 days before the two-year anniversary of receiving the conditional green card, investors must execute step three and complete Form I-829 Petition by an Entrepreneur to Remove Conditions. If this application is approved, the investor and family members under the age of 21 is allowed to permanently live and work in the U.S.

The rest of the process is essentially up to the investor, who may chose to take a very active or completely absent role in the project he or she targeted for investment. After these steps, EB-5 visa investors are free to enjoy the benefits of U.S. residency.