EB-5 Application Process
Qualifying individuals can establish lawful permanent residence (green card status) through the EB-5 visa program in three steps outlined below.
Form I-526, Petition for an Alien Entrepreneur
First, every EB-5 applicant must gain approval of a Form 1-526. This is a very detailed form that appears to be deceptively easy to complete. In practice, the information being requested is quite complex. Failure to provide appropriate evidence with supporting documentation, escrow payments, and application fees frequently results in a rejection.
The most challenging aspect of the application is that the prospective investor must provide detailed evidence that they have already made or are in the process of making an investment in a qualifying U.S. business. Bank statements, asset verification, funds transfers, stock certificates, and other financial transactions must be submitted in order to gain approval.
Additionally, the types of funds being invested are closely scrutinized. Financial assets must have been lawfully obtained, as supported by tax returns or similar confirming documentation.
Evidence that the intended business will generate a minimum of 10 full time positions for U.S. citizens is also required. Suitable evidence may include I-9 forms, a detailed business plan, and credible operational projections.
The U.S. immigration attorneys at Hodkinson Law Group have helped numerous of EB-5 petitioners prepare an I-526 petition, and can do the same for you.
Application to Register Permanent Residence or Adjust Status or Application for Immigrant Visa
Second, you must apply to adjust your status to that of a permanent resident if you are in the U.S. or apply for an immigration visa if you are residing outside of the U.S. Your spouse and minor children under the age of 21 must also file to adjust their status, or file applications for immigrant visas. This processing of multiple family member applications can be complicated, both in terms of timing, data required, and submission location.
Once your application for permanent resident status or immigrant visa form is approved, you receive conditional permanent residence for two years.
The EB-5 attorneys at Hodkinson Law Group can help you complete your Form I-485 in a timely and complete manner.
Form I-829: Petition by an Entrepreneur to Remove Conditions
Third, proper timing is essential for your Form I-829 petition. This form must be filed 90 days prior to the two year anniversary of your conditional green card grant date.
Your green card is issued once your I-829 petition is approved. At that time you allowed to live and work permanently in the United States.
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