+ EB-5 Program Overview
The EB-5 visa provides a means of obtaining a green card through the investment of $500,000 in a Targeted Employment Area ("TEA") or $1,000,000 in a non TEA. This investment must create or preserve 10 jobs for qualified U.S. workers. In 1993, Congress created the Regional Center pilot program which allows investors to pool their funds in designated "Regional Centers" which are then deployed to job creating entity in the Regional Center's geographic region. The major benefit for Regional Center sponsored EB-5 projects is that direct, indirect, and induced jobs can all be used to count towards the 10 jobs per investor requirement. This is usually done through economic impact analyses or other approved methodologies.
As with all EB-5 visa petitions, the investor applies for an EB-5 visa by submitting an I-526 petition. Once approved the investor will receive a two year conditional green card. After twenty one months, the investor is able to submit an I-829 petition and receive a permanent green card if he or she can show that their investment was sustained in a new commercial enterprise and created 10 or more jobs per investor.
If you have any further questions, please fill out the contact form on the right and we will be glad to answer your questions to the best of our ability.
+ Advantages of the Regional Center Program
A Regional Center is an entity that has been approved by the United States Citizenship and Immigration Service (USCIS) to sponsor EB-5 projects within a particular geographic region. The Regional Center's goal is to promote economic growth through increased economic activity including export sales, improved regional productivity, creation of new jobs, and increased domestic capital investment.
Among the advantages of a Regional Center sponsored EB-5 project are:
- Investment is usually in a Targeted Employment Area, requiring a lesser capital commitment of $500,000.
- The inclusion of direct, indirect, and induced jobs in counting towards the 10 jobs per investor requirement.
- No need of sponsorship from a relative or employer.
- Ability to live and work anywhere in the United States, regardless of the Regional Center location.
- No language, business or education requirements are placed on the investor.
- Education costs are at rates for U.S. residents.
The ability to apply for U.S. citizenship after being a permanent resident for more than five years.
Eligibility and Requirements
To qualify for an EB-5 visa, an immigrant investor must:
Demonstrate that a qualified investment is being made in a new commercial enterprise located within an approved regional center. Depending on whether the investment is in a TEA, the amount can be $500,000 or $1,000,000. CCFI solely focuses on projects located within a TEA.
Demonstrate the qualified investment will benefit the United States economy by showing through reasonable economic methodologies that 10 or more jobs are created directly or indirectly by the new commercial enterprise.
In order to seek status as an immigrant investor, the investor will file USCIS Form I-526 (the Immigrant Petition by Alien Entrepreneur). This petition will need to include documentation showing that the immigrant investor's capital contribution:
- Established a new commercial enterprise
- Constituted the requisite amount of capital
- Came from a lawful source of funds
- Has created or will create the requisite numbe rof jobs
- Demonstrate that the investor is an active participant in the investment; and
Invested the capital in a targeted employment area
Conditional Permanent Residency
Once an investor's I-526 petition is approved, the investor will obtain conditional permanent resident status by either filing a Form I-485 (if the investor is in the United States) or go through the consular process (if the investor is outside the United States). This conditional permanent resident status lasts for two years.
+ I-829 Process
After the investor has been granted conditional permanent residency status for 21 months, but prior to the expiration of their status at the end of the two year conditional permanent residency period, the immigrant investor will file an I-829 petition. This petition will remove the conditional status of the permanent residency. In this petition the investor must show that his or her investment:
- was placed into a new commercial enterprise
- was of the requisite amount required
- was sustained throughout the period of conditional permanent residency
- was able to create the requisite amount of jobs required by the program