Facts About The EB-5 Visa

The EB-5 Visa is one of the many ways to get a Green Card in the United States. All an individual has to do is invest in a business and they can become a permanent resident of the country in no time. Every year, there are approximately 10,000 visas allotted for foreign investors and for their families. In 2015, there were 9.764 visas were used and 93% going to investors from Asia. More specifically, 84% were granted to Chinese investors and 3% granted to Vietnamese.

Aplying for a Green Card is a long and tedious process. You can avoid the time delay and strict requirements that are usually faced by applicants.The EB-5 visa applicant will be granted conditional residence status. After two years of stay, the foreign national will then apply to remove this status. Upon meeting the visa requirement, the foreign national will then receive full LPR status. Otherwise, their conditional status is either terminated, required to leave the US, or be placed in removal proceedings.

In 1992, Congress set up the Regional Center Pilot Program in order to create an additional pathway to LPR status via the EB-5 visa. For the regional centers, the investment requirement is the same for the standard EB-5 investors. Visas from the Regional Center Program has grown over the years. In 2014, 97% of all EB-5 visas were issued from the Regional Centers.

When applying for an EB-5 visa, bear in mind that the average waiting time for processing is 13 months. The application will wiat in queue at the USCIS for about 8 – 15 months. Afterwards, it will take an additional six months or more for the review. Upon approval, the applicant will be notified and make an appointment in the nearest embassy or consulate in their country for interview. Once approved, they will need to present the documents upon their arrival in the US.

Two years after the approval of visa, the company where the applicant investeds will provide proof of job creation. You will need the Form I-829 to do this. Once reviewed and approved by the USCIS, the conditional status is changed to permanent and the Green Card issued to the applicant. The card is renewable every 10 years.

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