The EB-5 visa
Is a popular option for foreign investors who are looking to live and work in the United States.
This program was created by the U.S. government to encourage foreign investment in the country and
to create jobs for American workers.
In exchange for their investment, foreign investors can receive a Green Card, which gives them
permanent residency in the United States.
The EB-5 visa is designed for individuals who are willing to invest a minimum of $1.05 million in a
U.S. business, or $800,000 in a targeted employment area (TEA). A TEA is defined as a rural area or
one that has experienced high unemployment. The investment must create at least 10 full-time jobs
for U.S. workers within two years.
EB-5 visa grants U.S. residency
The EB-5 visa allows eligible investors to become permanent residents of the United States.
They can become Green Card holders by investing substantial capital to finance a U.S. business.
There are numerous EB-5 visa requirements we will review in depth.
On March 15, President Biden signed an EB-5 Reform and Integrity Act of 2022 that includes an EB-5
Regional Immigrant Investor Center Program authorization and several effective implementation dates
for the program.
This program will be effective until September 30, 2027.
EB-5 visa requirements enforced by United States Citizenship and Immigration Services (USCIS)
The USCIS manages the EB-5 Immigrant Investor Program. EB-5 visas, also known as Fifth Preference Work visas,
are Immigrant visas. This means that EB-5 visa applicants are granted a Green Card.
The Green Card allows them to live and work in the United States permanently.
EB-5 Green Card applicants can also bring their spouses and unmarried children under the age of 21.
What is needed to apply for the EB-5 visa?
Find investment opportunity
To apply for the EB-5 visa, foreign investors must first find a qualifying investment opportunity.
This can be a new business or an existing one that is looking to expand.
The investment must be made in a legal and operational enterprise, and the investor must be
actively involved in the management of the business.
File petition with USCIS
Once the investment has been made, the foreign investor must file a petition with U.S.
Citizenship and Immigration Services (USCIS). This petition must include evidence of the
investment and proof that the investment will create jobs for U.S. workers.
If the petition is approved, the investor will receive a conditional Green Card, which is valid for two years.
Prove investment success
During the two-year period, the foreign investor must prove that the investment has
been successful and that the required jobs have been created.
If the conditions of the EB-5 visa are met, the investor’s Green Card will become permanent.
With a permanent Green Card, the investor can live and work in the United States
permanently and can apply for U.S. citizenship after five years.
Who can apply for an EB-5 visa?
For foreign investors
Any foreign national may apply for an EB-5 Green Card through the investor program if he or she can demonstrate certain conditions.
180 days to move to U.S.
If the foreign investor is successful in obtaining the EB-5 visa, he/she has 180 days to move to the United States. With his or her family members included in the application.
Filing petition for conditional resident card
Once in the US, the investor can file a petition for a conditional permanent resident card and apply to remove the Green Card conditions 90 days before the second anniversary of residency.
Eligible for U.S. citizenship
EB-5 investors will also be eligible to become U.S. citizens under immigration law.
However, it is important for foreign investors to carefully consider the risks and benefits of the program before making an investment. A qualified immigration attorney can provide guidance and assist with the EB-5 visa application process.
The EB-5 visa application process
U.S. visas and residency
Immigrants who successfully complete the EB-5 visa program through the approval of the I-829 application become
lawful permanent residents of the United States. Permanent residents receive a Green Card that allows them
to live and work in the United States permanently.
Thus, Permanent residents may live and work anywhere they want in the United States. Permanent residents may travel
without the need for a visa and may work in the United States without the need to be sponsored by a U.S. employer.
Permanent residency may also be granted to spouses and unmarried children under the age of 21 of EB-5 investors.
United States citizenship
EB-5 investors have the opportunity to become U.S. citizens once they have completed the EB-5 program process.
To be eligible to become U.S. citizens, EB-5 visa holders must first be permanent residents for at least five years.
At this point, EB-5 visa holders can undergo the naturalization process which allows them to become U.S. citizens.
U.S. citizens enjoy more rights than permanent residents.
Citizens are allowed the right to vote and to participate in federal, state, and local public elections.
Sponsoring foreign relatives is also much easier for U.S. citizens. Citizens are also eligible for certain state benefit programs.
A troubled enterprise
An enterprise that has been in existence for at least two years and has incurred net losses during the 12- or 24-month
period preceding the priority date shown on the foreign investor’s Form I-526.
The losses for this period must be at least 20 percent of the net worth of the business before the loss.
For purposes of determining whether the troubled business has been in existence for two years.
Successors in interest to the business will be considered to have been in business for the same period
of time as the business to which they are successors.
A qualified employee
A U.S. citizen, permanent resident, or other immigrant authorized to work in the United States. The person may be a
conditional resident, an asylee, a refugee, or a person residing in the United States under suspension of deportation.
This definition does not include an immigrant investor, his or her spouse, sons or daughters, or any foreign national
in any nonimmigrant status (such as an H-1B visa holder) or who is not authorized to work in the United States.
Full-time employment
Employment of a qualified employee by the new commercial enterprise in a position requiring a minimum of 35 hours of work per week.
In the case of the Regional Center Pilot Program, “full-time employment” also means employment of a qualified employee in a
position that has been indirectly created and requires a minimum of 35 hours of work per week.
An employment sharing agreement
Is one in which two or more qualified employees share a full-time position that will count as full-time employment
provided the required weekly hours are completed.
This definition does not include combinations of part-time or full-time equivalent positions if even when combined,
these positions comply with the hours per week required.
Not all jobs qualify
Jobs that are intermittent, temporary, seasonal, or transient in nature and do not qualify as full-time jobs.
However, jobs that are expected to last at least two years are generally not considered intermittent,
temporary, seasonal, or transient in nature.
How many EB-5 visas are issued each year?
EB-5 program growth
The latest data from the Department of State reveals that 5,070 EB-5 visas have been issued via
consular processing during the current fiscal year (October 1st, 2023 – March 31st, 2024),
reflecting a substantial 64% year-over-year increase. A significant portion of these visas has
been awarded to applicants from China and Vietnam, who represent the largest investor groups,
with 55% and 26% of the total visas issued, respectively.
Indian-born applicants received 9% of the visas, and 2% were issued to applicants from Taiwan.
This data highlights the growing demand and success of the EB-5 program, particularly among
these key investor groups. Notably, all the EB-5 visas issued so far this fiscal year fall under
the Unreserved category, emphasizing the program's broad appeal and accessibility.
EB-5 clients access franchise network
Our direct EB-5 clients are able to connect to our accumulated franchise network of over 100
EB-5 eligible
franchises to drive their business search and analysis.
We have vetted operators. Generally, the franchisor itself can support the day-to-day operations
of the business,
while the EB-5 investor oversees the financial and strategic direction of the business.
This is vital for those investors who cannot reside in the United States on another type of visa
(such as the E-2 visa)
while the EB-5 visa is being awarded.
In summary
In conclusion, the EB-5 visa is a valuable option for foreign investors who are looking to live
and work in the United States.
The program provides a path to a Green Card and permanent residency in the country.
With careful planning and the right investment opportunity, foreign investors can achieve their
goal of living and working in the United States.
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