The EB-5 Immigrant Investor Program was created in 1990 through the Immigration Act 1990 as a means of encouraging foreign investment and job creation for US workers, in exchange for a “green card” that grants permanent residency and the right to work in the US.
For several nationalities, the EB-5 visa program may represent the quickest route to obtaining US residency and, potentially, citizenship.
The current version of this visa, effective March 15, 2022, requires foreign individuals to invest either $800,000 or $1.05 million in a new business or enterprise that creates a minimum of 10 full-time jobs for US workers.
In exchange, the foreign investor, their spouse, and unmarried children under 21 years old (as defined by US Immigration and Nationality Laws) will receive a US green card, allowing them to live, work, and study in the USA.
After holding a green card for 5 years, the investor and their family may qualify to apply for US citizenship.
To be eligible for an EB-5 visa, foreign investors must invest $800,000 in a business or project located in a Targeted Employment Area (TEA) or $1.05M in a non-TEA area.
In either case, the investment must generate at least 10 permanent full-time jobs for US workers in order for the investor to qualify for an EB-5 visa.
The EB-5 Reform and Integrity Act of 2022 (RIA) came into effect on March 15, 2022, which re-authorized the EB5 visa program for a period of 5 years.
The act introduced several changes aimed at improving investor protection, encouraging and mandating integrity measures, and promoting accountability.
These changes have been deemed necessary for quite some time.
The EB-5 Reform and Integrity Act of 2022 brought about several changes, including a reduction in the required investment amount.
The investment amount was decreased from $900,000 to $800,000 in TEA areas and from $1.8 million to $1.05 million in Non-TEA areas.
The EB-5 Reform and Integrity Act (RIA) established new visa-set-aside categories for foreign investors who invest in a TEA, with 20% reserved for rural areas, 10% for high unemployment areas, and 2% for infrastructure projects.
The EB-5 Reform and Integrity Act (RIA) introduced a significant change that allows investors and their families, who are in legal non-immigrant status in the U.S., to concurrently file their I-485 Adjustment of Status applications along with their EB-5 Form I-526E petition.
This is a major development that provides more flexibility to investors and streamlines the process for obtaining a green card.
Investors who apply for EB-5 and opt for concurrent filing can receive two interim benefits while their I-526 petition is being adjudicated.
These benefits include an Employment Authorization Document (EAD) that permits investors to work anywhere in the United States and an Advance Parole (AP) that enables investors to travel in and out of the USA during the validity of the AP.
Benefits of the EB-5 Visa Investor’s program:
Among the many benefits of the EB5 visa we include:
- Most often, the fastest immigration option to obtain the ‘green card’.
- Ability to migrate to the US based on a legitimate investment of moneys and creation of jobs.
- Ability to migrate to the US irrespective of education, age, or work experience.
- Ability to migrate to the US without any dependency on any employer or lottery or any other visa dependency.
- Ability to work in the US if qualified to file for Adjustment of Status; after obtaining the EAD card.
- Ability to check the box that one does not need sponsorship when applying for a job.
- Ability to travel freely if and after one obtains the Advance Parole, without a visa.
- Ability to live and work anywhere in the US irrespective of the investment vehicle for the EB5 visa.
- Ability and possibility of reduced tuition fees for many colleges and universities.
- Ability to apply for US citizenship faster than through ‘usual’ employer sponsored visas.
