What is EB-5？
The EB-5 Immigrant Investor Program is administered by the United States Citizenship and Immigration Services (USCIS).
The EB-5 Immigrant Investor Program provides qualified foreign investors and their immediate family members the opportunity to obtain US permanent resident status (Green Card) by investing at least $800,000 in a commercial project located in a targeted employment area (high unemployment and rural areas) that creates at least ten permanent, full-time jobs in the US economy.
Investment Immigration (EB-5)
History and Development
Since its implementation in 1990, the EB5 program has been revised many times and has become one of the immigration shortcuts with short approval time and fewer conditions and restrictions among all immigration categories. With a history of more than 30 years, it is a "senior" member of the immigration law, and more than 75,700 Chinese investors have been successfully approved.
Chinese applicants account for 65% of EB5 investment immigration and are the largest applicant group.
History of EB-5 Investment Immigration:
1️⃣In 1990, Congress created the EB5 program, which requires an investment of $500,000 or $1 million to establish a business and create 10 direct jobs;
2️⃣In 1992, the concepts of "regional center" and TEA were added, that is, in high unemployment areas and remote areas, the requirement of "directly creating 10 jobs" in immigration application conditions was relaxed to "directly or indirectly creating 10 jobs";
3️⃣Around 2010, the Chinese market began to promote the EB5 project on a large scale, attracting a large number of Chinese applicants to join;
4️⃣In 2015, EB5 became very popular, and the number of applications continued to rise. It was also the first time in the history of EB5 that applicants from mainland China were queued;
5️⃣ Due to the long waiting time in 2019 and the increase in investment amount to US$900,000 and US$1.8 million, EB5 entered a "stagnant" state in China;
6️⃣A new bill was introduced in March 2022, which set the investment amount at US$800,000 (TEA) and US$1.05 million (non-TEA) and divided it into 3 types of visa reservation programs, allowing qualified applicants to submit both applications.
Changes to the New Deal (RIA)
Under the new policy, the USCIS allows EB-5 applicants with suitable status in the United States to submit an I-485 adjustment of status application to the USCIS in advance if their I-526E application is not approved. Such an application is called concurrent filing. After both applications are approved, the EB-5 applicant will directly obtain a temporary green card. The benefits of submitting concurrent filings are:
Can legally reside and study in the United States;
Can work in the United States and travel freely in and out of the United States.
When submitting I-485, the law firm will help clients submit applications for I-765 work permit and I-131 reentry permit. Currently, it takes about 2-4 months for a work permit to be approved, and 6-12 months for a reentry permit to be approved. (For reference only)
Benefits of the E B-5 visa:
Investors and their immediate family members (spouse and unmarried children under the age of 21) can obtain permanent residency through a one-time investment. Investors and their immediate family members (spouse and unmarried children under the age of 21) can obtain permanent residency through a one-time investment.
There are no language proficiency requirements for investors.
There is no business background requirement for investors.
Green card holders have flexibility in traveling in and out of the United States.
Children of investors can attend public colleges and universities in the United States at the same tuition rates as US citizens.
Investors and their immediate family members can apply for US citizenship after entering the United States with an EB-5 visa and residing there for five years.
EB-5 investors may qualify for priority visa processing if they invest in certain “set-aside” projects.
Foreign investors residing in the US on a legal nonimmigrant visa
Applicants can submit both EB-5 green card immigration application (I-526E) and adjustment of status (I-485) application at the same time without leaving the country.