One employment-based (EB) “preference immigrant” category includes foreign nationals who have invested or are actively in the process of investing $1 million (or $500,000 in targeted employment areas) in a new commercial enterprise that will benefit the U.S. economy and create at least 10 full-time positions for qualifying employees. These foreign nationals are also called “EB-5 immigrant investors” because they are in the employment-based fifth preference visa category.

 

Under EB-5 category, 10,000 visas are available annually to qualified individuals seeking permanent resident status on the basis of their engagement in a new commercial enterprise.

 

An investor can either get a green card alone or along with the spouse and unmarried minor children. He must have either already invested or actively in the process if investing the required amount of capital into a new commercial enterprise established by them. It must also be shown that the investment will benefit the U.S. economy and create the requisite number of full-time jobs for qualified persons within the US. Eligible individuals are those who: create a new business; purchase an existing business with simultaneous or subsequent restructuring or reorganization resulting in a new commercial enterprise; or investment of the amount required for a substantial change such as expansion.

 

The form that needs to be submitted to apply for EB-5 visa is I-526 Immigration Petition by Alien Entrepreneur along with the supporting documents and filing fee. Once the petition is approved, the alien may become a conditional resident either by Adjustment of Status or Consular Processing. Conditional green card received initially will expire within two years, after which, in order to become a lawful permanent resident, eligible investor must file Form I-829 within 90 days before the second anniversary of his admission to the U.S. as a conditional resident.

 

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