5 things you should know about getting an EB-5 investment visa
The EB-5 investment visa has become increasingly popular among immigrants over the past decade.
It is one of the simpler ways to get a green card into the States – but despite how simple it is, there are some complex details that you should know about if you’re looking to make an EB-5 investment application.
With that said, let’s take a look at five things you should know about getting an EB-5 investment visa.
The i829 form processing time can vary widely
The wait time for an EB-5 investment visa hinges on the amount of applications made in a given year.
There are a couple of forms you have to fill out during the application and the processing time for each form differs. One of these forms is the i829 form.
The i829 form is an application to remove the conditional permanent residency status of an applicant and dependents if any.
The EB-5 investment is contingent on some requirements but prior to the fulfillment of those requirements, applicants have a temporary permanent resident status. When this period expires applicants have to file the i829 form.
Failure to do so within 90 days of when due could mean the applicant losing their permanent resident status and can be removed from the United States. However, if there was a good reason for not filing on time, concessions might be granted.
The i829 processing time usually takes from 22-48.5 months. The time taken to process this form varies due to the large number of individuals applying for EB-5 Visas – hence applicants are strongly advised to remain calm and patient while the form is being processed.
There are two ways to make your EB-5 investment
You can make an EB-5 investment in two ways either as a direct investment or in an EB investment project.
Direct investments require you to start a business or acquire one. This means that you are in direct control of your investment and the business you opt to fund.
A foreign investor making a direct investment has to get involved with the day-to-day running of the business to ensure that it runs smoothly and achieves the EB-5 requirements. Direct investments are required to create 10 direct jobs.
An EB-5 investment project is when a number of foreign investors pool their funds together with the aim of taking on larger projects that wouldn’t have been possible individually.
These investment projects are usually conducted by approved regional centers and do not require a foreign investor to get involved in the day-to-day running of the business, The jobs created from an EB-5 investment project can either be direct or indirect.
You can invest in two areas
You could make an EB-5 investment in two areas: either a targeted employment area (TEA ) or a non-targeted employment area.
A targeted employment area is an area that is either a rural area or a high unemployment area that is 150% of the United States National Average.The investment amount required to be made in a Targeted employment area is $900,000, while for a non-TEA, the investment amount is $1,800,000
Visas for your family members
The EB-5 investor visa program doesn’t only offer visas to foreign investors but also to their family members. Only immediate family members (dependants) can qualify for the visa. These family members include spouses and children.
Real estate investments are a good idea
Investing in real estate is a great EB-5 investment project as it is highly-favored by the USCIS ( United States Citizenship Immigration Service) due to how it helps fast track the development of under-developed areas.
However, if you opt for a real estate EB-5 investment via direct investments, you may be forced to invest up to $2 million dollars.
This is a high stake investment. It is more advisable to take on EB-5 real estate investments by investing in an EB-5 investment project.
The EB-5 investment visa is easy to qualify for and is now in high demand however the USCIS only gives out 10,000 visas in a year. To be at the top of the list, it’s advisable to consult an immigration lawyer to help you through the process.