The EB-5 program is a U.S. government initiative, which opens the doors to foreign investors in search of a green card.
By investing in pre-approved projects, jobs are generated and capital is added to the economic flow of the country, obtaining the benefit of being able to live on U.S. soil.
Under the guidelines of this program, the investor can invest in Smart Brickell, a successful project in Miami, developed by Habitat Group, which meets the requirements established by the U.S. government.
Let’s see which are the steps to reach residency in the United States, by the hand of Smart Brickell.
EB-5 Investor Profile
The first step is to know if you can apply to the program as an investor.
To do so, the investor must not have a criminal record or immigration fines, and must be able to demonstrate the legality of his funds.
In order to verify the traceability of his or her income, the investor must hire an immigration attorney with knowledge and experience in the EB-5 program.
The attorney hired by the investor will be responsible for preparing a traceability report of the funds in order to demonstrate their origins and legality. This process usually takes three to eight weeks.
Upon completion of the traceability of the money, both the developer and the investor enter into the underwriting agreement.
Underwriting agreement
In this step, the investor signs an underwriting agreement with Habitat Group.
In this agreement, it states that the investor agrees to be one of the financial partners for the development of Smart Brickell under the EB-5 program.
Transfer of funds
Upon execution of the subscription agreement, the investor makes the transfer to Habitat Group of the funds required for the investment under the EB-5 program ($1,050,000).
Once this transfer is made, the attorney must apply through the I-526 petition for a change in the work and travel permit status of the investor and his or her family.
The verification of this petition by the U.S. Citizenship and Immigration (USCIS) may take a little more than 90 days, but it is an important turning point in obtaining the green card.
Work and Travel Permit
In case the process has been started in the United States, after a few months the investor and his immediate family receive the work and travel permit to be able to enter and leave the country while the green card is being processed.
If the investor is outside the country, this change of status is done through the consulate.
Conditional Green Card
After two years, the investor receives a conditional green card. This conditionality is determined based on whether the development is meeting the job creation standard required by the EB-5 program.
Fortunately, through the Smart Brickell project, Habitat Group is already generating the jobs required by the program for the investor. With its first tower built and the next two under construction, this project guarantees job creation.
With the conditions of the EB-5 program met, a Form I-829 is filed. This filing demonstrates that the investment has met the objectives of the program and that the conditions can be removed.
The filing of this form must be made within 90 days prior to the expiration of the conditional residency.
Obtaining a Green Card
Once the conditions are removed, the investor has the Green Card, with the investor, spouse and children under 21 years of age being legal residents of the United States.
Although the path to obtaining a Green Card may seem complex, the end results are well worth the effort. Being a Green Card holder grants the right to live, study and work in the United States, but also opens the door to a series of opportunities and benefits.
Among these we can mention the inclusion to a wider labor market, the possibility of sponsoring family members to obtain their own permanent residency, and the option to apply for U.S. citizenship after fulfilling the residency requirements.
In addition, they enjoy the security and stability that comes with having legal status in the United States, which allows them to plan for a long-term future and build a life in this country.
Smart Brickell, your choice for the EB-5 Program
Habitat Group has previous experience in the development of projects aligned with the EB-5 program, which allowed many foreign investors to obtain a green card and establish their lives in the United States, improving their quality of life and accessing opportunities for themselves and their family members.
By choosing Smart Brickell for your EB-5 investment, you align yourself with a project that meets job creation requirements and adds value to the U.S. economy, while taking a step towards the American dream.
