Designed to attract foreign investors, the EB-5 visa program not only fosters economic growth but also facilitates the creation of jobs for U.S. workers.
However, navigating the complexities of the EB-5 process requires a clear understanding of its eligibility criteria, investment requirements and potential risks.
Eligibility requirements
To qualify for an EB-5 visa, individuals need to invest a minimum amount of capital in a new commercial enterprise in the U.S. Currently, the minimum investment is $900,000 for TEA projects and $1.8 million for non-TEA projects.
Job creation
One of the key requirements of the EB-5 program is the creation of jobs for U.S. workers. Investors have to demonstrate that their investment has directly or indirectly created at least 10 full-time jobs for qualified U.S. workers within two years of receiving their visas.
Regional centers
In fiscal year 2023, 7,127 individuals received one of the available 13,987 EB-5 visas, and many of the required investments work through regional centers, which are entities approved by USCIS to promote economic growth in specific regions. They pool EB-5 investments for job-creation projects.
Conditional green card
Upon approval of the EB-5 petition, investors and their immediate family members (spouses and unmarried children under 21) receive conditional permanent residency in the United States for two years. To obtain permanent residency, investors need to create the required jobs and comply with the program requirements.
Processing time
The processing time for EB-5 petitions can vary significantly, depending on factors such as the volume of applications and USCIS processing times. On average, it may take anywhere from 18 months to several years to obtain approval.
While the EB-5 program offers a pathway to permanent residency for foreign investors, it is not without risks. Investors should carefully evaluate the financial, immigration and project-specific risks.
