EB-5 Green Cards are a legal way for someone who wishes to reside in the United States to become a permanent resident through investing in United States business. The program (known as the EB-5 Immigrant Investor Program) is under the department of the United States Citizenship and Immigration Services. The EB-5 allows the individual, his or her spouse and immediate family take up permanent residency in the United States.
A person seeking an EB-5 Green Card must have a solid personal background and must be forthcoming in showing where his or her funds are coming from. A foreign investor can also invest in specific regional centers that create at least ten full-time jobs in what is considered a targeted employment area. Once approved, the investor is given a “conditional” Green Card. The conditional status remains until those ten jobs are created. The investor is free to work and live anywhere in the United States. However, after two years, the conditional Green Card may be removed if certain conditions apply. If there are no conditions, Green Card will be reissued.
How does someone file EB-5 Green Card petition? The first step is filing Form I-526, which is for foreign entrepreneurs who want to reside and do business in the United States. Along with this form, you are required to submit some information in support of your petition including: proof that your investment comes from a legal source of income, you are creating a new commercial business, you are creating the number of jobs that is necessary, you are investing enough money to start the new business, the jobs you are creating are in a targeted employment area (only if applicable), and that you will be playing an active role in the business itself.
If you want to become a permanent and lawful resident of the United States, you would need to file Form I-829 (which removes all the conditions) within ninety days before the second anniversary of your first admission as a conditional resident of the United States.
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