If you’re an investor or entrepreneur looking to invest in the United States, the EB-5 Visa is one excellent way you can get a green card. The conditions are simple; you make a very substantial investment in the country’s economy and create jobs for US workers. As such, this method is suitable for extremely wealthy internationals who can meet the financial requirements of the process.

With an EB5 Visa, you’ll receive a Green Card that will allow you to live, work, and study in the United States. The aim of this initiative is to encourage foreigners to invest in the country’s economy and boost its growth. Each year, the US issues 10,000 EB-5 investment visas, which includes those given to the applicant’s family members.

In this comprehensive guide, we take you through everything you need to know about an EB-5 VIsa, including the application process and the required documents.

EB-5 Visa Investment Options

To qualify for an EB-5 Visa, there are two types of investments you could make:

Invest in a Targeted Employment Area (TEA)

A targeted employment area is defined by the Immigration and Nationality Act as a rural area or one with a high rate of unemployment. If you invest in a TEA, you’ll qualify for a reduced amount of $800,000. The enterprise you invest in should be conducting business primarily in the designated TEA.

Invest Outside a TEA

Alternatively, you could choose to invest outside a TEA. Here, you’ll be required to make a direct investment of at least $1.05 million. This could go into creating your own company or investing in an already established company/enterprise. However, you should first check with the United States Citizenship and Immigration Services (USCIS) to ensure your choice meets their minimum requirements.

EB-5 Visa Investment in Regional Centers

Regional centers are business entities across the United States aimed at promoting economic growth in certain areas. These organizations pool investments from multiple EB5 investors, raising the capital needed to develop massive projects. In most cases, the funds are used to build large scale resorts, hotel, and apartment complexes, among other real estate projects.

In a regional center, both direct and indirect jobs contribute towards your minimum job-creation requirements. For instance, if your investment is used to build a hotel, suppliers and other businesses that emerge as a result of the new hotel will count when calculating the number of jobs you’ve created.

If you invest in a regional center, you’ll have less control in the business management since you’ll be one among tens or even hundreds of contributors. As such, you’ll have little to no involvement in the daily operations.

EB-5 Visa Direct Investment

With direct investment, you can either purchase an existing business, start your own enterprise, or inject capital into an already existing business. Here, you’ll either be the sole owner of the enterprise or one of a few co-owners.

Also, the only jobs that count towards the minimum job-creation requirement are those directly created by the commercial enterprise. As such, only the direct employees of the business will count.

EB 5 Visa Investment Requirements

For an investment to qualify you for an EB-5 Visa, it must meet the following requirements:

• The value of your investment should meet the minimum required amount, which is either $800,000 in a TEA, or $1.05 million outside a TEA
• Your investment money should come from a legal source
• Your investment should be approved by the USCIS
• The investment must lead to at least ten new full-time jobs for at least two years. If it is impossible to prove that your investment has led to the creation of these jobs, you must at least show that the need for ten full-time employees will arise
• If you invest in an existing enterprise, it must be a “for-profit” new commercial enterprise formed after the 1990.
• Your investment should be “at risk,” meaning there’s no guarantee that you’ll get your capital back

How to Apply for EB-5 Visa?

After sorting out your investment requirement, you can now begin the process of applying for the EB-5 Visa, which is as follows:

• First, you’ll need to fill and submit Form I-526 to the USCIS. This is essentially the form used to apply for an investment visa
• Next, the USCIS will review your application and send it to the National Visa Center (NVC)
• You’ll then be contacted by the NVC with instructions on the documents to submit, the required fees, and how to make the payment
• Next, you’ll apply for an Immigrant Visa and start an interview at your local US Embassy. You’ll be instructed on the location of the interview, and the documents you should bring
• If all your documents are in order and you pass the interview, the US Embassy will issue your Immigrant Investor Visa, which is your two-year Conditional Green Card
• If you’re already in the US, instead of going to a US Embassy, you’ll file for adjustment of status using Form i-485.

Here is just a rough summary of what the process should be. Depending on your location, it could differ with some extra steps involved. Therefore, ensure you first check with your local US Embassy to stay up to date with the latest processes and requirements.

How Long Does the EB5 Visa Process Take?

From the time you first submit your application with the USCIS, it will take an average of 24 months for you to get your EB5 Visa. However, since this is just an average estimate, it could take longer depending on your specific situation.

For instance, if your EB5 investment is deemed to be in the national interest, it’ll receive expedited approval, and you may have to wait for only two to six months.

If you have children who you wish to include in the application, ensure you start early so that they don’t grow out of the minimum acceptable age of 21 years.

Documents Required for EB5 Visa Application

The United States Citizenship and Immigration Services will require you to prove that you and your investment meets their criteria when applying for an EB5 Visa. For this, you’ll have to submit documents such as:

• Documents that show you’ve either invested or are in the process of investing in a new for-profit commercial enterprise established after 1990; or
• Documentary evidence that you’ve bought a for-profit new commercial enterprise that was established before 1990, but reorganized to form an entirely new enterprise; or
• Proof that you’ve invested in a for-profit new commercial enterprise that was established before 1990, and as a result, led to at least a 40% increase in net worth or the number of employees
• Proof that you’ll oversee the new enterprise
• Documentary proof that your investment has resulted in the creation of at least ten new full-time jobs, either directly or indirectly. Alternatively, you could submit a comprehensive business plan indicating that you will require at least ten new positions later
• Evidence that you’ve made the minimum investment required
• Evidence that the money you invested came from lawful sources. Some documents you could use include foreign business registration records, proof of other sources of capital, corporate, partnership, or personal tax returns
• Documents of all pending criminal or civil actions against you from a court in or outside the USA from the past 15 years where applicable
• Biometric picture
• Passport
• Medical examination form
• Civil documents such as marriage and birth certificates

Benefits of the EB5 Visa

An EB5 visa comes with various benefits to the immigrant and the United States. Receiving the Visa means that you will:

• Get a Green Card that you can renew continuously, allowing you to reside in the United States
• Live, study, and work in the United States together with your family members
• Have an easy time applying for citizenship a few years down the line
• Travel in and out of the United States without the need to apply for a visa
• Travel easily to other countries that permit visa-free passage to Green Card holders
• Get a good return on your capital investment if you did it wisely
• Have access to American healthcare, known to be the best in the world

For the United States, an EB-5 Visa stimulates the economy by creating new job opportunities for the citizen and promoting the growth of rural areas.

How Long Can I Stay in the US With an EB5 Visa?

Once you get your Green Card through an EB5 investment, you’ll now be considered a conditional resident of the US. This conditional residency is valid for two years, during which you can live, study and work in the country.

During the conditional residency period, you’ll be required to adhere to physical presence requirements. Under these, you won’t be able to stay outside the United States for more than one year, or you’ll be required to apply for a re-entry permit.

After two years of conditional residency, you’ll be free to apply for unconditional or permanent residency for yourself and your approved family members. This is in the form of ten-year Green Cards that you can always renew. With this, you’ll be free to live and work permanently in the United States.

Five years from the date you receive your permanent residency, you’ll have the option of becoming a United States citizen with all the applicable benefits and rights.

Can I Live Anywhere in the US with an EB5 Visa?

Yes, once you get an EB5 visa, you’re free to live and work in any State in the US. This especially applies if your investment was through a regional center, where you won’t have to reside in the same state as the one you invested in.

However, in the case of direct investment, you’re required to prove that you’re an active participant in the running of the company. As such, you’ll need to live somewhere near the enterprise you invested in.

Family Members of EB5 Visa Holder

Once approved for an EB5 visa, your privileges will extend to some of your family members. They include:

Children Under 21

If you have children under the age of 21, you can bring them with you, where they will qualify for either permanent or conditional residence. The children should either be your birth children, stepchildren, or adopted children. Whichever the case, you must be able to prove that you are their legitimate parent.

Note that married children do not qualify for the Visa even if they’re under 21 years.

Your Spouse

If you’re married, your spouse also qualifies for both conditional and permanent residency along with you. However, the two of you must have been married by the time you enter the US as a resident, or when your status changes from a conditional to a permanent resident after staying for two years. This applies even to same-sex spouses. However, if you’re married through common law, your partner will not qualify.

Can I Get American Citizenship with an EB5 Visa?

Yes, the EB5 Visa makes it easier for you and your close family members to get American citizenship. After five years of getting the 10-year Green Card (unconditional residency), you can apply for full citizenship with all the rights and privileges. Therefore, you can need to have lived in the US for at least seven years before you can apply for citizenship.

However, for your application to be considered, you must also meet other requirements for citizenship by naturalization.

Do I Get Access to American Healthcare with an EB5 Visa?

Yes, the EB5 visa allows you to live in the US and enjoy all the services and amenities available to citizens, including healthcare and education. You should, however, bear in mind that healthcare costs in the US are among the highest in the world.

For instance, an ambulance ride can cost as much as $1200, whereas being admitted to a US hospital can set you back more than $10,000. As such, it is wise to get an affordable health insurance plan that caters to all your essential needs.

EB-5 Visa Cost

Besides the $800,000 you’ll be required to invest in the country, the actual EB5 application will cost you about $3,675 for you and any other applicants. On top of this, you’ll incur administrative fees such as:

• Medical examination fee
• Form DS-260 processing fee
• If required, a translation fee
• If applicable, regional centre administrative fees
• Fees for obtaining supporting documents
• Legal fee

EB-5 FAQs

Is the EB5 program still available?

Yes. On March 15, 2022, President Biden signed a law that allows the EB5 Immigrant Investor Regional Center Program to be in effect until Sept. 30, 2027.

Do EB5 Investors get their money back?

In some cases, if you invested carefully, you’ll get your money back in case your application is denied. This is especially true when investing in a regional center.

Once the Visa is approved, how soon do I have to enter the United States?

The validity period of your EB5 is typically six months. As such, you have six months to enter the country once the consulate abroad issues you visa.

Once I have my Green Card, must I live in the United States?

Yes, you EB-5 Green Card requires that you become a permanent resident of the country. As such, you should not leave the country for longer than six months at a time.