The immigrant investor visastarted in the 1990s, with the hopes of improving and stimulating the economy of the United States. The program prioritizes foreign investors by giving them the chance to acquire their green card visain exchange of their capital investment that creates new jobs for American citizens.
More popularly known as the Eb5 visa program, immigrants find this to be an easier way of acquiring an employment-based green card. You can get this for yourself in no time, as long as you have an established business, and a large amount of money to invest. There are, however, certain restrictions and regulations that must also be followed.
So I am a foreign investor; now what?
If you are planning on investing in the United States with hopes of earning your Green Card or permanent residency card, take note that only 10,000 EB5 Immigrant Visa Cards are released every year.
Permanent residency can be obtained thru the Immigrant Investor Program once foreign investors can prove their financial stability. They can either choose the Regional Center Pilot Program or the Basic Program. Both require capital investment of at least 500,000 USD, or 1 million USD if you are targeting area that doesn’t have high unemployment.
Another requirement for a permanent residency card is that your business can provide and preserve at least 10 full time jobs for American citizens. Employers can choose to provide jobs directly or indirectly; the former thru filling in positions that are created within the business, while the latter being created because of the construction, engineering and planning phase of the business.
Explaining the process for immigrant investor program application
There are three main steps you need to take before you can acquire your green card thru the Immigrant investor program. It will take you less time in acquiring for your permanent residency card because, unlike regular immigrant visa applications, yours will only take five to six months for processing and release. However, you will need to take note that you need an additional $6,500 (aside from your capital investment of 500,000 to 1 million USD) for filing fees.
You are required to submit Form I-526, which is a form of petition for an Alien Entrepreneur. Once this is approved, the next form that you need to file is the I-485 which is the Application to Register Permanent Residence or Adjust Status. When approved, you and your immediate family are automatically granted conditional permanent residence to the state for two years.
90 days before the expiration of the conditional green card, you are required to file form I-829, which is a petition for removing all the conditions included in your residence card. Once approved, you will be given a 10-year renewable green card.
The Immigrant Investor Program makes it easier for foreign investors to apply for their own green card, and for them to manage their business more effectively. As long as you have the money and other requirements the program requires, you will have your permanent residency card in no time.