The EB-5 Visa is one of the most attractive and direct ways for foreign investors to access a Green Card.
This program, implemented by Congress in 1990, is designed to encourage foreign investment and job creation in the country by allowing investors to obtain U.S. citizenship in exchange for an investment in commercial projects.
What is the EB-5 Visa?
The EB-5 Visa is an investment-based immigration program that allows foreign nationals and their immediate family members (spouses and children under the age of 21) to obtain permanent residency in the United States.
To be eligible, an investor must make a minimum investment of between $900,000 and $1.8 million in a business that creates at least 10 full-time jobs for U.S. workers.
This program is very popular among those looking for a less bureaucratic and more effective way to settle in the U.S. with their family members.
But what is the process that leads investors to obtain residency?
Investment Selection
The first step in obtaining the EB-5 Visa is to select an investment project that meets the requirements of the program.
It is important to choose a project that has a high potential for success in job creation, as this is critical for visa approval.
Many investors opt for projects within a Regional Center, which are entities designated by the government to facilitate EB-5 investments.
These centers typically handle projects that are already aligned with the program requirements, which simplifies the process.
Smart Brickell is a development that meets these requirements, combining luxury residential, commercial and hospitality space, ensuring the creation of sufficient jobs to meet EB-5 Visa criteria.
Filing Form I-526
Once the project has been selected, the next step is to file Form I-526, Immigrant Petition by Alien Investor.
On this form, the investor documents his or her investment, demonstrates the legality of the funds, and justifies how the project will meet the job creation requirements.
It is important to verify all documentation submitted, as any errors or missing information may delay or even jeopardize the approval of the application.
Approval of this form takes between 12 and 24 months, depending on the workload of the U.S. Citizenship and Immigration Services (USCIS).
Conditional Residency
Upon approval of the I-526, the investor and his or her family may apply for conditional residency, which lasts for two years. During this period it must be demonstrated that the investment is still active and that the promised jobs are in the process of being created.
With this residency, the investor can live, work and study in the United States while meeting the final requirements of the EB-5 program.
Removal of Conditions
Before the end of the conditional residency period, the investor must file Form I-829, Petition to Remove Conditions on Residency.
For this, it must be shown that the investment has been maintained and that at least 10 full-time jobs have been created.
Approval of the I-829 removes the conditions of residency, granting the investor and his or her family permanent residency in the United States, with all the rights and benefits that come with it.
Points to keep in mind
In order for the EB-5 Visa process to be successful, there are details to keep in mind that can make the difference between an approved and a denied application.
One of the most important is the documentation, so the documents supporting the legality of the invested funds, as well as the creation of the jobs required by the program, must be presented in a detailed and accurate manner.
It is advisable to work with experienced legal and financial advisors who can guide investors in the correct preparation and presentation of these documents.
Project selection should be thorough, choosing projects that are designed to meet the requirements of the program and that have the support of a development group with a proven track record of success.
Meeting the deadlines set by USCIS is essential to avoid complications in the process. Each filing stage has specific deadlines that must be strictly adhered to.
If you are considering the EB-5 Visa as your path to U.S. residency, we invite you to learn about Smart Brickell.
Contact us today to find out how this project can help you secure your future in the United States.
