How do I start the investment process to begin immigration with an EB-5 Visa?
Getting Started with the EB-5 Visa Process: Your Investment
Obtaining permanent resident status using the EB-5 Program can be a lengthy and involved process. To get you off to a good start, we have compiled a list of the items you will need to have ready to start the process and the initial steps you need to take.
What you need as an EB-5 investor:
- Accredited investor status. Financial institutions, insurance companies, etc., are considered accredited investors. For an individual to have accredited investor status, he or she needs to have a net worth of at least $1,000,000 or an annual income of at least $200,000 for the past two years.
- $500,000 (if investing in a targeted employment area, or TEA) or $1,000,000 (if investing in a non-TEA)
Documentation showing your source of funds. Your investment needs to be legally obtained from any of the following sources: salary from employment, dividends from a business, funds from an inheritance, gifts from family or friends, proceeds from the sale of real estate, and other legitimate sources.
- Money to pay processing fees, attorney fees, etc. These fees include your $50,000 administrative fee plus additional processing fees. You should have this money available to you before beginning the process to avoid delays.
- A clean record. To be given permanent resident status, you will need to be able to pass a series of routine background checks. These checks will investigate your finances, any political involvement, and your criminal history to ensure eligibility for immigration to the United States.
Patience. This is not an immediate process. United States Citizenship and Immigration Services (USCIS) receives thousands of EB-5 petitions annually, and it takes time to review them individually. Generally, receiving conditional permanent resident status takes 18–24 months, and removing the conditions on that status requires another two years.
Steps to take in the EB-5 investment process:
- Contact us to schedule a meeting with one of our consultants to go over your situation. Complete suitability questionnaire and provide proof of accreditation status. This may include current financial statements and proof of income for the past two years.
- Select a project from among the available options and review the project documents. Discuss any questions or concerns you may have with a representative.
- Sign the necessary paperwork to commit to funding the selected EB-5 project. Transfer your investment ($500,000 or $1,000,000) into an escrow account. This will ensure that the investment funds are available when needed following the approval of your application.
- Retain an attorney who specializes in immigration. Your attorney can provide you with valuable advice during this process and assist in making sure regulations are followed and documents are submitted correctly and in a timely manner.
- Gather documentation showing how you have sourced your funds. Compile the documentation into a complete report.
- Complete and file your EB-5 Petitions through your attorney.