How to Get the EB-5 Visa in 2024: Step-by-Step Process Explained

EB-5 Passport and US Visa for immigration

Passport and US Visa for immigration

In today’s global economy, securing a future in the United States is a goal for many entrepreneurs and investors worldwide. One of the primary vehicles for achieving this is the EB-5 Investor Visa. The EB-5 visa program allows individuals to obtain permanent residency by investing in the U.S. economy. Espinoza Law Offices, your trusted immigration lawyers in Lakeland, FL, can guide you through the EB-5 visa process professionally and efficiently. Here’s your step-by-step guide to obtaining an EB-5 visa in 2024.

Step 1: Assessing Eligibility

To qualify for the EB-5 visa, an investor must meet the following criteria:

  • Invest in a New Commercial Enterprise: The enterprise must have been established after November 29, 1990. Alternatively, the enterprise can be an older business that has been restructured or reorganized in such a way that a new commercial enterprise results, substantially changing its original business scope and organization.
  • Minimum Investment Amounts:
    • $1,050,000 for standard investments: This amount applies to investments in commercial enterprises located outside of Targeted Employment Areas (TEAs).
    • $800,000 for investments in Targeted Employment Areas (TEAs): TEAs include rural areas or urban areas experiencing high unemployment rates. The purpose of the reduced investment requirement in TEAs is to encourage economic growth in these less developed regions.
  • Job Creation:
    • The investor must create or preserve at least ten full-time jobs for qualifying U.S. workers within two years of the investor’s admission to the United States as a Conditional Permanent Resident.
    • In the case of a new commercial enterprise not located within a regional center, these jobs must be directly created by the enterprise. This means that the jobs must be identifiable as full-time positions within the company.
    • For enterprises located within a regional center, indirect job creation is permissible. Indirect jobs are those held outside of the enterprise but created as a result of the enterprise. For example, jobs resulting from goods and services purchased by the business can qualify as indirectly created jobs.
  • Source of Investment Funds:
    • The investor must demonstrate that the capital invested was obtained through lawful means. This requires providing traceable evidence of the source of the funds, such as earnings, sale of property, business transactions, or gifts.
    • The invested funds must be at risk for the purpose of generating a return on the capital placed at risk. This means that there must be a real and significant possibility of loss inherent in the investment, thereby emphasizing the investor’s commitment to the success of the enterprise.
  • Active Involvement in the Enterprise:
    • The investor must be involved in the management of the new commercial enterprise, either through day-to-day managerial control or through policy formulation. Simply being a passive investor does not satisfy the requirements of the EB-5 visa.

Step 2: Choosing the Right Investment

Selecting an appropriate investment is pivotal. This could be a direct investment in a new commercial enterprise or a contribution to a Regional Center, a third-party-managed investment vehicle that pools investor funds for larger projects. Understanding the distinctions and potential benefits of each option is essential for aligning the investment with your long-term residency and financial goals.

Step 3: Filing the I-526 Petition

The next step involves filing Form I-526, Immigrant Petition by Alien Investor. This document demonstrates your investment’s eligibility, detailing the nature of the business, the amount of capital invested, and the expected job creation. Accurate and thorough documentation here is crucial for a successful petition.

Step 4: Communicating with Your Business Immigration Attorney

Open communication with your attorney is key throughout this process. Espinoza Law Offices has experienced immigration lawyers in Lakeland, FL, who are ready to assist with every aspect of your EB-5 application.

Step 5: Obtaining Conditional Permanent Residency

Once the I-526 petition is approved, you and your immediate family members (spouse and unmarried children under 21) can apply for conditional permanent residency. This allows you to live, work, and study in the U.S. and is valid for two years.

Step 6: Confirming Job Creation and Filing the I-829 Petition

Before the two-year conditional period ends, you must prove that your investment has created at least ten full-time jobs for qualifying U.S. workers. This is done by filing Form I-829, Petition by Investor to Remove Conditions on Permanent Resident Status. Approval of this petition will grant you permanent residency.

Step 7: Achieving Permanent Residency

Successfully navigating the EB-5 visa process culminates in obtaining permanent residency. This final step solidifies your status in the U.S. and confirms that your investment has had a tangible impact on the U.S. economy.

Your Next Steps

Embarking on the EB-5 visa pathway is not just an investment in the economic sense but a significant step towards your family’s future. Espinoza Law Offices is here to ensure that this step is taken with care and legal precision. For a personalized consultation and to discuss your investment options, contact us today.