What steps can a foreign investor take to obtain permanent residency in the United States through the EB-5 visa program?

As a lawyer, I can advise that foreign investors seeking permanent residency in the United States through the EB-5 visa program must follow a specific process to obtain a green card. The EB-5 visa program is an immigrant investor program designed to attract foreign capital and create jobs in the United States.

The first step for foreign investors is to invest a minimum of $900,000 in a commercial enterprise that creates at least 10 full-time jobs for American workers. The investment can take several forms, including the creation of a new commercial enterprise, the reorganization of an existing enterprise, or the expansion of an existing enterprise.

Next, foreign investors must file an I-526 petition with U.S. Citizenship and Immigration Services (USCIS). This petition must demonstrate that the investor has invested the required capital in a qualifying commercial enterprise and that the investment has created or will create at least 10 full-time jobs for American workers. USCIS will review the petition and, if approved, the investor can move on to the next step.

After USCIS approves the I-526 petition, the foreign investor can file an I-485 application for adjustment of status or an immigrant visa application with the U.S. Department of State at a U.S. embassy or consulate abroad. This application will require the investor to undergo a thorough background check and demonstrate that they are not inadmissible to the United States.

Assuming that the application is approved, the investor and their qualifying dependents will receive conditional permanent residency for a period of two years. Before the end of the two-year period, the investor must file an I-829 petition to remove the condition on their permanent residency. This petition must demonstrate that the investor has maintained their investment in the commercial enterprise and that the investment has created or preserved at least 10 full-time jobs for American workers.

In terms of limitations or exceptions, foreign investors should be aware that there is a cap on the number of EB-5 visas available each year. Additionally, the EB-5 visa program has been subject to various changes and revisions over the years, and investors should stay up-to-date on any regulatory changes that may affect their ability to obtain permanent residency through this program.

In conclusion, obtaining permanent residency in the United States through the EB-5 visa program can be a complex and time-consuming process. Foreign investors should consider working with an experienced immigration attorney to help navigate the process and ensure that their interests are protected.