EB-5 is an abbreviation for the United States Citizenship and Immigration Services’ 5th category of Employment Based visas, also known as the Immigrant Investor Program. The EB-5 Program grants Green Cards to qualifying foreign nationals who invest at least $500,000 in a program that meets certain requirements set forth by the U.S.C.I.S.
Visas granted through the Immigrant Investor Program give foreign investors and their immediate families the opportunity to LIVE in the United States of America and apply for citizenship after holding a Green Card for only five years.
EB-5 Investments come in 2 types: Direct and Regional Center. All EB-5 investments must create 10 jobs. However, Direct investments count specific, direct jobs, such as a new company accountant, on the other hand Regional Center investments count indirect jobs, such as a new server at the café across the street hired to accommodate an uptick in patrons from the project’s construction.
These indirect jobs are determined by an extensive economic impact analysis.
TEA is the U.S.C.I.S. abbreviation for Targeted Employment Area.
A Targeted Employment Area is an area that has an unemployment rate of at least 150% the national average at time of investment or is a rural area that lies outside the boundary of all metropolitan statistical areas and any city or town with a population of 20,000 or greater.
EB-5 Investments must be made where the funds are at risk of loss, create 10 new American jobs for 24 months, and be from legal sources to comply with the requirements established by the United States Department of Immigration.
The United States Department of Immigration requires that EB-5 investment be at least $1 million, except for in approved TEAs where the minimum amount except for in approved TEAs where the minimum amount is $500,000. This does NOT include administration and legal fees.
Provide necessary information to the Immigration Attorney to file the applicant's 1-526 application, also known as Immigrant Petition by Alien Entrepreneur, with the United States Citizenship and Immigration Services (USCIS). Processing times will depend on the USCIS backlog.
Execute the Investment Agreement, invest $500,000 in an EB-5 Florida Real Estate Regional Center project, like City Center West Orange, and pay the administrative and legal fees.
As soon as allowed by the monthly visa bulletins, applicants outside of the United States may file their DS-260s and applicants already in the United States on non-immigrant visas for more than 60 days may file their I-485s.
Approval of either the 1-485 or DS-260 will allow the applicant to live in the United States on a temporary Green Card.
After only 2 years living in the United States on the temporary Green Card, the Immigration Attorney will file the 1-824 to have the conditions removed and for the applicant to receive the permanent Green Card.
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