The EB-5 Application Process

When considering an investment into an EB-5 Regional Center there are several steps and procedures that must be followed.  The team at Exclusive Visas has years of experience in dealing with complex immigration issues and we have staff members who are former government officials that will be working on your file.

EB-5 Application & Approval Process Timeline

To Apply

A potential investor is required to file a petition with the US Citizenship & Immigration Services (USCIS).  Upon approval of this application, the investor and immediate family (which includes spouse and single children under 21 years of age) may apply for an Immigrant Visa at the US Consulate or if the investor is already located in the United States, apply for an Adjustment of Status at any regional USCIS office.

The initial resident status that is granted a  ”conditional” greencard for a period of two years.  Prior to the termination of this two-year preliminary period, the Conditional Permanent Resident must file an additional application with the USCIS to request removal of the conditions (referred to as the filing of the form 829).  If the investor has demonstrated that they invested and/or was actively in the process of investing the required capital, the investor maintained the investment throughout the two-year conditional period and the required jobs were created, then the application should be approved.

To Invest

1. An Offering Memorandum, Subscription Agreement and Business Plan will be provided to the investor to review. The investor will need to sign these documents and an Administrative Fee is due to the Regional Center with the submission of the signed documents. This Administrative fee may vary between US$30,000 to US$65,000, depending on the Regional Center selected.
2. To complete your EB-5 Investment application, the full amount of the investment (US$500,000 or US$1,000,000) needs to be deposited into the Regional Center’s bank account. At this time the funds are then invested into the investment project to stimultate the local economy as planned. Once the FULL investment is made, then the investor may begin with his I-526 application, if the investment is not made in full at the time of submission of the I-526, the USCIS will likely deny the petition.

Timing

The entire application process may take nine to fifteen months to be fully complete.  The USCIS is currently taking about two months to process the EB-5 applications.  Prior to submission, time is required to conduct due diligence, make the investment and prepare the documentation which supports the petition, complete background checks and source all funds.  If the investor is in lawful status when the EB-5 application is approved, they will be eligible to apply for Adjustment of Status to Conditional Permanent Resident without having to leave the United States. This application process may take up to six months or longer to be decided.  If the investor is not based in the United States they will apply for an Immigrant Visa at their local US Consulate or Embassy, a process which may take up to six months or longer to be approved, depending on the country they reside.

Recommended steps in the process

1. Contact Exclusive Visas for a consultation and allow our advisors to review and discuss the necessary details on applying for the EB-5 Visa.
2. Discuss the commitment of funds and research the required documentation needed to prove to prove the money is from a lawful source and belongs to the investor as well as confirming the capital investment is in fact financially viable.
3. Upon completion and clearance of capital, officially make the capital investment into an approved Regional Center project.
4. File the application with the USCIS. The application to petition citizenship requires that the USCIS certify the eligibility of the applicant and the funds for investment for EB-5 status.
5. Upon approval of the application, if the investor is in the United States they may apply for an Adjustment of Status to the Conditional Permanent Resident status. If the investor is overseas, they must wait for notification from the National Visa Center to prepare documents for the Immigrant Visa Interview at the US Consulate or Embassy in the country they reside. It should be noted that the purpose of the Adjustment of Status or the Immigrant Visa Interview is to ensure the investor is not subject to grounds of exclusion.
6. Upon being granted the Conditional Permanent Resident status, the wait period is 21 months to reconfirm that 100% of the investment has been made and as a result the 10 required jobs have been created (if required, based on the type of investment made).
7. Once the wait period of 21 months has ended and before month 24, the application to remove Conditional Permanent Resident status (Form I-829) will be filed.
8. A full Lawful Permanent Resident status or ”Green Card” will be granted for indefinite resident status and work permission in the United States once Conditional Permanent Resident status is removed.  US Citizenship will be possible 5 years after the Conditional Green Card is issued and once satisfactory residence and additional criteria have been met.