eb5 visa
DESCRIPTION
TRANSCRIPT
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EB5 VISAPOWERPOINT PRESENTATION
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GLOSSARY
EB-5 VISA’S DEFINITION
BENEFITS OF THE EB5 VISA
TWO INVESTMENT OPTIONS TO OBTAIN A GREEN CARD
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EB-5 PROCEDURES◦Regional Center registration process◦Application Process◦Adjustment of Status or Consular processing◦Removal of conditions◦Filling fees
INFORMATIONS
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EB-5 VISA’S DEFINITION.
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IT’S AS AN EMPLOYMENT-BASED IMMIGRANT VISA.
• IT IS AN IMMIGRANT VISA ISSUED FOR HAVING MADE AN INVESTMENT IN THE UNITED STATES THAT CREATES JOBS FOR OTHERS.
• IT IS OFTEN REFERRED TO AS THE EMPLOYMENT CREATION CATEGORY.
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THE EB-5 GREEN CARD IS A CONDITIONAL VISA FOR THE FIRST 2 YEARS.
AFTER 2 YEARS YOU MUST APPLY TO HAVE THE CONDITIONS REMOVED.
THERE ARE NO RESTRICTIONS ON TRAVEL WHILE HOLDING THE GREEN CARD.
HOWEVER, ONE MUST ALWAYS MAINTAIN RESIDENCY/DOMICILE IN THE USA.
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BENEFITS OF THE EB5 VISA.
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OBTAIN PERMANENT RESIDENCY IN THE USA.
RECEIVE PRIORITY PROCESSING BEFORE OTHER IMMIGRATION CATEGORIES.
HAVE THE RIGHT TO LIVE, WORK AND/OR RETIRE IN THE USA.
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CHILDREN BENEFIT FROM RESIDENTIAL TUITION FEES WHICH CAN BE AS LOW AS $5,000 FOR UNIVERSITY.
WITHIN 5 YEARS OBTAIN ELIGIBILITY TO APPLY FOR US CITIZENSHIP AND THE AMERICAN PASSPORT.
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TWO INVESTMENT OPTIONS TO OBTAIN A GREEN CARD.
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CATEGORY REGIONAL CENTER STAND-ALONE EB-5 PROGRAM
TEA 1 Non TEA
Number of visas allotted per year
3,000 10,000
Minimum capital investment
$500,000 $500,000 $1,000.000
Funds must be obtained from legal sources
Yes Yes
Capital must be invested prior to filing Form I-526
Yes (Safe escrow account)
Yes
Employment creation requirement includes direct and indirect jobs
Yes No (direct jobs only)
Direct responsibility for job creation
Investor is not directly responsible for requisite
job creation
Investor is directly responsible for creating
the requisite 10 new jobs
Direct responsibility for USCIS reporting
No Yes
Business owner? No (General Partner for the LLC)
Yes
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CATEGORY REGIONAL CENTER STAND-ALONE EB-5 PROGRAM
TEA 1 Non TEADirect management of business on a daily basis
Do not require direct management by the
investor on a daily basis
Require a high level of involvement and daily
management
Control concerning resulting business
Investors hold only limited control and
responsibilities in the resulting business
Investors hold a strong level of control over the resulting business and
its functions
Approval of a Project by USCIS
Generally pre-approved Determination made after the review of the economic feasibility
report
Returns on the investment
Fixed/Lower Flexible/Higher
Safety of the Investment in case of I-526 denial
Yes (full amount of $500,000 returned to
the investor)
No guarantees
Mandatory permanent residence in a state of business investment
No Yes
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CATEGORY REGIONAL CENTER STAND-ALONE EB-5 PROGRAM
TEA 1 Non TEAProfessional assistance with immigration process
Yes (by the qualified team of the Regional
Center)
Yes (You have to hire your own consultants)
Cost One-time fee covers all expenses over next 5
years
Evolving costs at various stages
I-526 Petition review by USCIS (in most cases)
2-3 months 8-12 months
Immediate family members qualify for the same status
Yes Yes
Permanent Residence Status after the removal of conditions
Yes Yes
Opportunity to become a U.S. citizen
Yes Yes
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EB-5 PROCEDURES.
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REGIONAL CENTER REGISTRATION PROCESS.
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1. SELECT YOUR REGIONAL CENTER.
2. SUBMISSION OF CONFIDENTIALITY DOCUMENTATION.
3. SUBMISSION OF VALID TRAVEL DOCUMENTS.
4. PRESENTATION OF INVESTMENT PROPOSAL.
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5. SUBSCIPTION AGREEMENT AND INVESTMENT.
6. PREPARING AND SUBMITTING THE I-526 PETITION.
7. USCIS’S PROCESSING OF THE I-526 PETITION.
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APPLICATION PROCESS.
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1. FILE A FORM I-526, PETITION BY ALIEN ENTREPRENEUR.
2. UPON APPROVAL OF THE FORM I-526 PETITION EITHER:
FILE A FORM I-485, APPLICATION TO REGISTER PERMANENT RESIDENCE OR ADJUST STATUS.
OR, FILE A DS-230, APPLICATION FOR IMMIGRANT VISA AND ALIEN REGISTRATION.
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THE EB-5 INVESTOR IS GRANTEDCONDITIONAL PERMANENT RESIDENCEFOR A TWO-YEAR (2) PERIOD:
UPON THE APPROVAL OF THE I-485 APPLICATION;
OR
UPON ENTRY INTO THE UNITED STATES WITH AN EB-5 IMMIGRANT VISA.
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FILE FORM I-829, PETITION BY
ENTREPRENEUR TO REMOVE CONDITIONS,
90 DAYS PRIOR TO THE TWO-YEAR (2)
ANNIVERSARY OF THE GRANTING OF THE
EB-5 INVESTOR’S CONDITIONAL RESIDENT
STATUS.
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ADJUSTMENT OF STATUS OR
CONSULAR PROCESSING.
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ADJUSTMENT OF STATUS IF:
THE INVESTOR IS ALREADY INSIDE THE UNITED STATES.
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2 CONSULAR PROCESSING IF:
THE INVESTOR IS NOT ALREADY IN THE UNITED STATES;
OR
THE INVESTOR IS IN THE UNITED STATES ONLY THROUGH THE VISA WAIVER PROGRAM;
OR
THE TEMPORY VISA OF INVESTOR IS LIKELY TO EXPIRE BEFORE HIS I-526 PETITION IS DECIDED.
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REMOVAL OF CONDITIONS.
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FORM I-829, PETITION BY ENTREPRENEUR TO REMOVE CONDITIONS.
THE PETITION MADE BY ENTREPRENEUR TO REMOVE CONDITIONS IF THE POSITIONS CAN BE EXPECTED TO LAST AT LEAST 2 YEARS.
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DOCUMENTS MUST BE SUBMITTED:
1. A COPY OF THE PERMANENT RESIDENT CARD.
2. EVIDENCE TO SHOW THAT INVESTOR HAS MAINTAINED YOUR EB-5 INVESTMENT.
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3. EVIDENCE OF JOB CREATION AS THE RESULT OF THE INVESTMENT.
4. BIOMETRIC SERVICES (photograph, fingerprint and signature).
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FILLING FEES.
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I-924, APPLICATION FOR REGIONAL CENTER UNDER THE IMMIGRANT INVESTOR PILOT PROGRAM:
$6,230.
I-526, IMMIGRANT PETITION BY ALIEN ENTREPRENEUR:
$1,500.
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I-485, APPLICATION TO REGISTER PERMANENT RESIDENCE OR ADJUST STATUS:
$1070 ($985 + $85 biometric fee)
I-829, PETITION BY ENTREPRENEUR TO REMOVE CONDITIONS:
$3,835 ($3,750 + $85 biometric fee)
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ADDITIONAL FEES FOR REGIONAL CENTERS WHICH IS DIFFERENT ACCORDING TO DIFFERENT REGIONAL CENTER IF THE IMMIGRANT INVESTOR PILOT PROGRAM IS SELECTED.
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INFORMATIONS
1 TEA: a rural area with a population less than 20,000 or a high-unemployment area.
2 Consular processing means the investor will need to apply to obtain the immigrant
visa through a US consulate in his home country.
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Brownstein, Brownstein & Associates.
Canadian Head Office: Montreal
6000 Cote-Des-Neiges Suite 590Montreal, Quebec, Canada H3S 1Z8T: (514) 939-9559 F: (514) 939-2289Email: [email protected]