
EB-5 Program Updates and Policy Changes: What Indian Programmers Need to Know
The United States’ EB-5 Immigrant Investor Program has been a significant pathway for foreign investors to obtain a Green Card and permanent residency in the
GoVisa is an innovative EB-5 finance firm based in New York, serving as a guiding beacon for foreign investors seeking US residency through the EB-5 Immigrant Investor Regional Center Program. With our team’s unique blend of legal, private equity, and real estate development experience, we at GoVisa are able to provide unparalleled support and expertise to our clients throughout the entire EB-5 immigrant investor journey.
We stand at the crossroads of legal acumen, real estate development expertise, private equity, creating a unique service offering in the EB-5 market, and maximizing the quality of the value of the service we provide to our clients.
GoVisa is much more than just a business; we are a mission-driven platform enabling immigrant investors to achieve their American Dream. Our company reflects our founders’ journey, and our operations embody the passion to provide a fulfilling and empowering experience for our clients. We are committed to making meaningful contributions to American society while building a prosperous future for our clients and their families.
In 1990, former President George H.W. Bush signed the EB-5 Immigrant Investor Visa Program into law. This visa category is intended for qualified foreign nationals seeking to obtain lawful permanent residence by investing in the US economy and creating at least 10 qualifying jobs in the US. The US government allows only 10,000 EB-5 visas to be issued annually, including beneficiary family members.
Currently, the program is administered by the United States Citizenship and Immigration Services (USCIS) under the Department of Homeland Security. The minimum required ‘at-risk’ investment if made in a Target Employment Area (TEA), defined as a rural area or an area with an unemployment rate of 150% the average national level, is $800,000. If the selected EB-5 project is not located in a TEA, the investment amount is $1,050,000. Additionally, the EB-5 investor must prove that the funds used for the investment were legally obtained and the funds must remain invested for a two-year sustainment period.
Access a rapidly growing archive of general and country-specific information on the EB-5 investor visa application and investment process.
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The EB-5 Program is an immigration program that provides foreign investors with an opportunity to obtain permanent residency in the United States. Over the years,
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I-956 Requirements
In order to demonstrate that you are eligible for regional center designation, you may need to submit evidence along with your Form I-956. The following points are generally required from the applicant:
Spouses of the investor are eligible for both conditional and permanent residency once the investor has been granted conditional and permanent residency, respectively. This is applicable when the investor and their spouse were married at the time of the investor’s original admission to the United States as a conditional resident, or at the end of the two-year conditional period when citizenship status will adjust to a lawful permanent resident. It should be noted that a common-law marriage is not recognized for the purpose of permitting a spouse to qualify as a derivative beneficiary.
Children
Children, including step-children and adopted children of the investor, are able to follow the investor who has been granted their conditional permanent residence, or permanent residence. This is valid only if the investor can establish legitimate parent lineage at the time of the investor’s original admission to the United States, or at the end of the two-year conditional period when immigrant status is adjusted to Lawful Permanent Resident.
The US Government considers a ‘child’ as someone who is under the age of 21, and is not married. Any child over the age of 21 at the time the investor files for conditional residency, is considered an adult pursuant to US Immigration law and is not allowed to accompany the principal EB-5 investor as a dependent child. The age and marital status limitations do not apply to the I-829 petition to remove conditions.
It depends on whether a waiting list exists at the time of the conditional residency (I-526E) application is approved. If the investor files for conditional residency before the child turns 21, and there is no waiting list for EB-5 investor visas, then it may be possible for the child to remain with the EB-5 investor’s visa process pursuant to the Child Status Protection Act (CSPA).
CSPA provides some protection to the family immigrating to the US with the general aim of keeping families together. However, there is the possibility that your eligible children could “age-out” during the process, if there is a waiting list for your country.
If a waiting list does NOT exist for your country at the time of the investor’s I-526E approval, the child would be eligible for a Green Card. However, if a waiting list that exceeds 3 months DOES exist for your country at the time of the investor’s I-526E approval, the child would most likely age-out and be ineligible for an EB-5 Green Card.
It is helpful to consider the following examples:
NO WAITING LIST:
WAITING LIST:
If there is a waiting list for EB-5 visas for a specific country, the above situation is not applicable to the investor’s child. This is a likely scenario if there is a waiting list:
Now that the EB-5 Investor Regional Center Program has been authorized through 2027, here’s a brief overview of the included updates.
Annual Reserved Visa Categories
It is designed for EB-5 investors or foreign nationals that are the primary applicant and are already physically located inside the United States on another visa (tourist, investor, work or other).
This means that a petitioner would not has to wait for the EB-5 petition to be approved, and when their status is adjusted, they can apply for travel rights and work authorization. This filing secures a work permit and advance parole within 3-9 months, which means one can live in the US immediately after investing in an investor visa, work, and travel.
While US Citizenship is optional, the investor and their eligible family members may qualify to apply for citizenship within 4 years and 9 months after conditional residency (I-526E) is obtained, so long as other naturalization requirements are met.
One of the key requirements for immigrating under the EB-5 immigrant investor program is proving that the investor derived the investment funds from a lawful source. The EB-5 investor must prove the lawful source of funds at the I-526E petition stage. The types of documents that have to be provided in order to prove a lawful source of funds are specific to the financial circumstances of each investor.
Eligibility Requirements:
The investor will work with immigration counsel and advisors to prepare these forms, and provide evidence of source of funds. Before accepting investor funds, all investors are screened by GoVisa and the escrow bank, per US legislation. Once the investor satisfies the escrow bank’s pre-screening requirements, funds are wired into the escrow account related to the project, at the time the offering documents are signed.
Once legal counsel submits the I-526E petition the investor needs to complete the consular process to gain I-526E approval. This can be done in two ways, and depends on where the investor resides at the time of application.
Consular Processing (Investor resides outside of the United States)
| Adjustment of Status Processing (Investor is a valid non-immigrant status in the United States)
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While US Citizenship is optional, the investor and eligible family members may qualify to apply for citizenship within 4 years and 9 months after conditional residency (I-526E) is obtained, so long as all other naturalization requirements are met.
Generally, once you become a conditional permanent resident, you should spend at least 180 days each year in the United States. There are several exceptions to the 180-day rule including studying abroad, medical circumstances, or emergency business circumstances. In these cases, a re-entry permit may be granted.
As a US resident, you have the right to apply for US Citizenship after approximately 5 years, given there are no waiting lists for your country. In order to qualify to apply to become a US citizen through naturalization you must become a Legal Permanent Resident (LPR) and remain a LPR for 5 years. You must also be physically present in the United States for 30 months during the 5-year period prior to the naturalization application. Once the naturalization process is complete, the individual has the right to vote and hold public office.
It is always best to discuss with your immigration attorney prior to making a decision when considering something of this nature. To maintain your Lawful Permanent Resident (LPR) or Conditional Residence status (i.e., Green Card) you have to avoid abandoning your residence in the US. You can have a trip out of the US greater than 180 days without abandoning your residence. You can apply for a re-entry permit, which allows you to stay out of the US for up to two years without abandoning your residence. You can apply for a reentry permit (form I-131) before you leave the US You can depart before the reentry permit is approved. With such a reentry permit, you can also return to the US at any point until the reentry permit’s expiration date. Reentry permits are issued for two years. At the expiry of these 2 years, you can apply for a new one. The second such reentry permit will be granted for two years, but all subsequent ones may only be approved for one year at a time. If outside of the United States for two or more years after being issued a reentry permit, a Returning Resident (SB-1) immigrant visa is necessary. Permanent resident status will be considered abandoned if a green card holder moves to another country and no longer intends to reside in the United States.
US permanent resident status grants immigrants many rights and privileges. Green card holders may live and work anywhere in the United States, and they are fully protected under federal, state, and local law. Permanent residents are also free to travel abroad using a valid passport issued by their home country; however, in order to remain permanent residents, they must fulfill the physical presence requirement, which is discussed in the next section. In addition to these rights, permanent residents enjoy numerous other benefits, including access to world-class higher education and excellent health care. They also have the option to obtain US citizenship.
Along with the rights and privileges mentioned above, permanent residents are expected to fulfill certain responsibilities:
Permanent residents are required to pay all applicable state and federal income taxes. They must file income tax returns with the Internal Revenue Service (IRS), paying taxes on their gross worldwide income. Immigrants from countries with which the United States has tax treaties may be able to obtain credit for the payment of their foreign taxes.
Like all male US citizens from age 18 to 25, male green card holders must register with Selective Service. Registration for Selective Service does not entail service in the US military, but it does mean that any male permanent residents from age 18 to 25 will be subject to the draft.
In addition to paying taxes and registering with Selective Service, permanent residents are expected to be of good moral character. To maintain permanent resident status, an immigrant must fulfill the physical presence requirement, which generally entails physically residing within the United States for six months or more in any given year. If a permanent resident spends more than one year outside of the United States, he or she must obtain a reentry permit or face losing permanent resident status.
If outside of the United States for two or more years after being issued a reentry permit, a Returning Resident (SB-1) immigrant visa is necessary. While outside the United States, permanent residents are still required to file US income tax returns, and failure to do so may jeopardize their status. Permanent resident status will be considered abandoned if a green card holder moves to another country and no longer intends to reside in the United States.