To get an EB5 green card, an investor can follow one of the pathways provided by an EB5 regional center. Regional centers are licensed by the U.S. government to offer guidance and other resources for foreign investors pursuing the EB5 green card program. Here is how an EB5 regional center works:
What Is the EB5 Green Card Program?
Before you understand what a regional center is and how it works, it’s key to understand the EB5 green card program. The EB5 program focuses on increasing economic growth and job creation in the United States by giving foreign investors the incentive of a green card. To participate in the program, an individual must meet specific eligibility requirements and make a qualifying investment. This investment should create or preserve at least ten full-time jobs for qualifying U.S. workers.
The minimum investment amount depends on the location of the project. An investor is required to invest $1.05 million for a standard project or $800,000 for a targeted employment area (TEA) project. TEAs are rural locations or areas with high unemployment.
What Are EB5 Regional Centers?
An EB5 Regional Center is a public or private entity certified by the United States Citizenship and Immigration Services (USCIS). It is focused on promoting economic development within a specific geographic area. These areas can be a single state, multiple states, or even a city or county. Regional centers play a significant role in facilitating EB5 investments. They combine capital from multiple investors and direct it into job-creating projects that align with the program’s requirements.
How Do Regional Centers Work?
Regional centers oversee and manage the daily progress of EB5 projects. Here are some of the steps that a regional center can assist foreign investors with while navigating the EB5 green card program:
Selecting Projects
Regional centers can find suitable projects for EB5 investments. These projects can be in various industries, such as real estate development, infrastructure, hospitality, and manufacturing. Regional centers conduct thorough research to make sure that the projects they select meet the EB5 program’s job creation and investment criteria.
Collecting Funds
Once a regional center identifies a project, it can invite individual EB5 investors to participate. These investors can contribute their capital to a pooled fund, which the regional center may manage. The regional center can then use this capital to fund the project alongside other sources of financing.
Creating Jobs
One of the main requirements of the EB5 program is the creation of a specific number of jobs. Regional centers work closely with the project to show how the investment will create the required positions. This can often involve economic modeling and projections to make sure the project complies with USCIS guidelines.
Filing Investor Petitions
Each EB5 investor files an I-526 petition with USCIS to prove their eligibility for the program. This includes demonstrating the lawful source of their investment funds and the project’s potential to create jobs. Approval of the I-526 petition grants the investor conditional permanent residency. A regional center can help gather the information and documentation required.
Verifying Job Verification and I-829 Petitions
After the conditional period, the investor must submit an I-829 petition to USCIS to remove the conditions on their green card. This involves verifying that the required jobs have been created due to the investment. A regional center can assist investors in gathering the necessary documentation for this process.
Approving Permanent Green Cards
If USCIS approves the I-829 petition, the investor and their family can receive permanent green cards. This allows them to live and work anywhere in the United States. Investors can apply for U.S. citizenship after five years with a permanent green card.
Choose an EB5 Regional Center
A regional center can help foreign investors navigate the EB5 green card process by selecting projects, collecting funds, creating jobs, and more. Regional centers also allow investors to have minimal involvement in the day-to-day operations of their investments. This enables investors to work and live wherever they choose within the United States. Contact a reputable EB5 regional center today to learn how they can help you achieve an EB5 green card.
