The EB5 Visa program allows foreign investors to gain permanent residence in the United States through a “green card.” If you have investment capital, you may be able to qualify for this visa.
We’ll review the program’s history, requirements, and the types of investments that will help increase your chances of getting your visa approved.
History of the EB5 Program
The Immigration Act of 1990 created the EB5 program. While the initial law still remains, it has been reformed under the EB-5 Reform and Integrity Act of 2022, which did increase the minimum investment requirement to just over $1 million, but it is reduced to $800,000 for certain projects, such as a TEA or qualifying infrastructure investment.
Traditionally, four countries make up 80% of all applicants:
- China
- United Kingdom
- South Korea
- Taiwan
The EB5 Visa Process Overview
Most applicants will apply for the visa with the help of an immigration attorney to ensure that all of the documents are properly filled out and the requirements are met. You will go through a standard process that includes:
- Finding a project or business to invest in
- Invest in a new commercial enterprise
- File through Form I-526
- Await the USCIS response
- Apply for your adjustment status
- Seek your two-year, conditional residence
- File form I-829
You may be eligible for naturalization in the future, but this is outside of the scope of just the EB5 Visa.
EB5 Visa Requirements
The EB-5 immigrant investor program is limited and to receive approval for your EB 5 Visa, you need to meet very strict requirements:
- 21 years of age or older
- No criminal required
- Investment of $800,000 to $1,050,000
- The investment must be in a for-profit entity
- Investments must create 10 full-time jobs within the first two years.
Every country has a limited number of accepted EB5 Visas accepted each year, so there is a chance that you will not be approved.
If you meet all of these requirements, the EB5 Visa may offer the shortest route to permanent residency in the United States.
The Role of Regional Centers
As part of your EB5 application process, you’ll need to consider whether you want to make an investment directly or through an EB5 Regional Center. Regional centers differ from direct investments because:
- Investors pool their funds
- You invest in a project with multiple investments
Hundreds of approved regional centers exist, and they’re known for spurring economic growth and job creation. Often, these projects are massive real estate developments or even hotels, where the economic benefit may be extensive.
Types of EB5 Investments
Under the EB-5 immigrant investor program, you have two investment options:
- Direct investment. With this route, the investor chooses a project, invests in a new enterprise (non-profits do not quality), and will control the business independently. The enterprise must create 10 direct full-time jobs.
- Regional Center investment. Investors who cannot find a project to invest in directly may invest in a Regional Center instead. With this investment option, 10 jobs must also be created, but they may be direct or indirect. The ROI is also more limited, and there is an administrative fee that must be paid by the investor.
The type of investment you choose will affect the application process, documentation and legal considerations.
Documentation and Legal Considerations
The EB5 Visa program requires extensive documentation, and any aspiring investor will also want to look at legal considerations that may impact their application.
Documentation includes but is not limited to:
- Personal documents, including your ID card, passport, residence history, Form I-551, etc.
- Civil documents, including birth or adoption certificates, military records, marriage certificates, etc.
- Complete resume and employment history
- Form G-28
- Documents related to the business, which will vary depending on whether it’s a new or existing business
- Project-related documents
- Proof of source of funds
- More
The list of documents required will largely depend on whether the investor is investing directly or in a Regional Center.
To ensure the process is as smooth and stress-free as possible, consider working with an agency like Shoora EB5, which offers full-service EB-5 investment and immigration management.
Economic Impact of EB5 Investments
The Western Washington University Center for Economic Business Research published research in 2018 outlining the impact of EB-5 investments in FY2014 and FY2015. The study found that during this time period:
- $33.6 billion was contributed to the economy
- EB-5 Regional Center projects generated $11.2 billion in capital investment
- Spending and investment associated with the program helped support 207,000 American jobs, accounting for 4% of the private sector’s total job growth
- $4.2 billion in tax revenue was generated by the program
The university’s research supports the notion that the EB-5 Visa program is beneficial for the US economy and workers.
In Conclusion
The EB5 Visa gives investors a path to citizenship in the US. Understanding the EB5 application process, documentation requirements and legal considerations can help you determine whether this is the right path for you.
