There are many paths to citizenship or permanent legal status for those seeking to live in the United States long-term. Created in 1990, the EB-5 Immigrant Investor Program Visa allows foreign investors in US-based companies to receive green cards for themselves and their families. The EB-5 program has been reauthorized by President Biden as of March 2022, extending the program until at least 2027. The chances, however, for this visa to be revoked from eligible applicants is very low, as the program was enacted to stimulate the economy via job creation and capital investment by foreign investors.
Who Qualifies?
The EB-5 Immigrant Investor Visa Program provides a pathway for immigrant investors to become green card holders if they invest the minimum required amount ($1,050,000 as of 2022) into a commercial business or enterprise. The recent reauthorization of the program tied the minimum amount to inflation, with the requirement increasing every five years. A commercial enterprise is any for-profit entity formed for the ongoing conduct of lawful business, including sole proprietorship, partnership, holding company, joint venture, corporation, or business trust. The company must also employ a minimum of 10 workers, with eligible workers including U.S. citizens as well as lawful permanent residents and work-authorized visa holders.
Applying
Information regarding this visa can be found on the United States Citizenship and Immigration Services website under the form I-526, Immigrant Petition by Standalone Investor. After applying with this petition, paying the fees, and receiving approval, the U.S. National Visa Center will provide further instruction on the submission of appropriate fees and immigrant visa documents. A spouse and any minor unmarried children are permitted to apply for the same visa along with the immigrant investor. Same-sex spouses and partners are eligible for the same immigration benefits as opposite-sex spouses.
The USCIS website also provides a list of required documents and identification. These include:
- Passport(s) valid for six months beyond the intended date of entry into the United States unless the U.S. Embassy/Consulate specifically requests longer validity in your country.
- Original civil documents (or certified copies) such as birth and marriage certificates. Legible photocopies are typically required as well.
Medical Examination and Vaccination Forms - Two (2) 2×2 photographs.
- Required supporting financial documents
Receiving an EB-5 investment visa generally takes longer than other types of visas. A limited number of visas are given out each year, and the vast majority are given out to one of 4 countries – Taiwan, South Korea, the U.K., and China. USCIS allows for expedition requests but has the sole discretion to decide whether or not to accommodate a request.
Ineligibility
The U.S. government and regional leaders that benefit from increased commercial activity and development have incentives to allow more of these visas to be issued. However, there are still actions that can cause one to be ineligible. These include previous convictions of crimes, fraud, submitting fraudulent documents, and other visa violations. In 2019, more stringent regulations were implemented to limit EB-5 visa fraud and reduce the gerrymandering of investment zones. Attempting to qualify for a visa by knowingly misrepresenting a material fact is very likely to result in disqualification and ineligibility for any U.S. visa.
Sarasota is a fantastic area to invest in. Qualified individuals who are considering applying for an EB-5 Investor Visa should call the Sarasota immigration attorneys at Probinsky & Cole. We can help you understand your eligibility and options and guide you through the complex immigration process.
