Living in America is a dream come true for many people around the world. The US offers a wide range of opportunities, a diverse culture, and a high standard of living when compared to several other developed nations. Therefore, getting a US Green Card and becoming a permanent citizen of America remains a dream come true experience for many individuals around the world.
The Green Card provides numerous benefits, including the ability to live and work permanently in the United States and the opportunity to eventually apply for US citizenship. However, the process of obtaining a Green Card can be complex and time-consuming, requiring individuals to meet specific eligibility criteria and navigate through various application procedures.
An alternative to securing a green card is to avail of the EB-5 Visa which is a type of immigrant visa that is available to citizens of all countries. The EB-5 Visa provides qualifying overseas applicants, their spouses, and eligible children under the age of 21 with permanent resident status.
The EB-5 Investment Amount is the minimum amount of money that a foreign investor must invest in order to qualify for an EB-5 visa. In a Targeted Employment Area (TEA), the minimum investment capital is $800,000. A Targeted Employment Area (TEA) is a high-unemployment region or rural area. A non-TEA requires $1.05 million in initial capital. The EB5 Category Requirements include creating at least 10 full-time jobs for qualified American workers within two years of getting conditional residency.
Once the EB-5 investor meets the capital and job generation requirements, an application for removal of the conditions on permanent resident status has to be made in Form I-829.
To seek removal of the conditions on permanent resident status, the immigrant investor must file a Petition by Investor to Remove Conditions on Permanent Resident Status (Form I-829) within 90 days prior to the 2-year anniversary of the date conditional permanent resident status was granted (for example, adjustment of status application was approved or investor admitted into the United States on an immigrant visa).
The immigrant investor must submit the following evidence with his or her petition to remove conditions:
Evidence that the immigrant investor invested, or was actively in the process of investing the required capital and sustained the investment throughout the period of the immigrant investor’s residence in the United States; and
Evidence that the new commercial enterprise created or can be expected to create, within a reasonable time, at least 10 full-time positions for qualifying employees. In the case of a troubled business, the investor must submit evidence that the commercial enterprise maintained the number of existing employees at no less than the pre-investment level for the period following his or her admission as a conditional permanent resident.
To ensure your application has been received and accepted, USCIS sends a receipt Notice of Action (Form I-797) to conditional permanent residents who properly file a Form I-829. The notice serves as proof of USCIS’ receipt of the Form I-829. If an immigrant investor’s Form I-829 is denied, he or she may seek review in removal proceedings.