The EB-5 investor visa provides a path to permanent US residency for foreign nationals who invest in and manage job-creating enterprises in the United States. However, navigating the EB-5 process can be highly complex, with plenty of legal intricacies. A San Diego EB 5 immigration lawyer from an experienced firm like Feldman Feldman & Associates PC in San Diego can help investors avoid pitfalls and successfully obtain green cards.
We’re an award-winning San Diego, California law firm with 50+ years of experience in immigration law.Talk to an immigration attorney at Feldman Feldman & Associates PC by calling 1-619-299-9600 today.
Determining If You Qualify for the EB-5 Visa
The EB-5 program has a few core requirements that investors must meet to qualify:
Investment Amount
The minimum investment amount is $900,000 for projects in Targeted Employment Areas (TEAs). Higher minimums apply for non-TEA projects. Applicants must demonstrate a lawful source of funds.
Job Creation
The project must create at least 10 full-time jobs for qualifying US workers. Economical methodologies can be used to estimate job creation.
Sustained Investment
Investors must commit to the project and management role in the job-creating enterprise to qualify for permanent residency.
Choosing the Right EB-5 Project
Not all EB-5 qualifying projects are equal; choosing the right one is critical.
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Risk Profile: The project must likely return the investment and create jobs to specifications. Less risky projects are best.
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TEA Qualification: Projects within TEAs that qualify for the $900K minimum are ideal. TEA status maximizes chances of success.
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Reputation: The developer should have a strong track record of completing past EB-5-funded projects successfully.
Assembling an EB-5 Business Plan
A comprehensive written business plan is required for the I-526 petition. EB 5 immigration lawyers work with business plan writers to prepare these plans:
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Executive Summary: A concise overview of key plan elements and high points.
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Company Description: An in-depth description covering all legal, operational, and ownership details.
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Marketing Plan: Analysis of the competitive landscape and strategies the company will employ.
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Operational Plan: How day-to-day operations, management, and processes will work.
Selecting the Right EB-5 Project Location
There are EB-5 projects in locations all over the country, in locales such as:
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California EB-5 Projects: The state’s bustling economy contains abundant TEAs, especially in major metros. Common project types include real estate, hospitality, healthcare, and more.
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Florida EB-5 Projects: No state has more EB-5 projects thanks to Florida’s thriving property development market. Luxury hotels and condos are frequent targets.
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New York EB-5 Projects: New York City development moves quickly so new EB-5 funded projects launch constantly across industries.
Conducting Due Diligence on EB-5 Offerings
Meticulous due diligence is highly recommended before investing in any EB-5 project. Relevant activities include:
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Initial Project Vetting: First, gather basic details like minimums, project specs, and location. Assess general suitability.
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Developer Research: Look into the backgrounds of all executives and past projects completed by the firm.
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Business Plan Analysis: Carefully validate all job creation and economic impact assumptions cited within the plan.
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Site Inspections: For real estate development projects especially, inspect sites in person whenever possible.
Selecting an Experienced EB-5 visa lawyer
The aid of a competent EB-5 immigration attorney in San Diego a professional is invaluable for navigating every intricacy of the EB-5 process successfully. Key attorney selection criteria include:
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EB-5 Experience: Firms with experience on EB-5 investor visas tend to be the most knowledgeable.
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General Immigration Law Knoweldge: The EB-5 program is just one immigration option. It is not the right program for everyone, and you want an immigration attorney that can look at all the options for you as sometimes there is a faster and/or cheaper way to obtain permanent residency.
Submitting a Secure I-526 Petition
The I-526 is the first petition filing that commences the EB-5 immigration journey. Elements include:
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Source of Funds Documentation: All money trails must be accounted for transparently per program rules.
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Project Investment Agreements: Properly structured subscription agreements, equity pledges, and more prove active investment.
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Comprehensive Business Plan: The fullest feasible business plan containing all mandated details.
Investor Requirements After I-526 Approval
After the I-526 is approved, the investor must obtain conditional permanent residency by filing the I-485 (can file concurrently in some instances) or through an immigrant visa at the consulate. After securing conditional green card approval, investors must uphold all EB-5 requirements until the removal of conditions.
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Maintaining Investment: Cannot withdraw or reduce investment prematurely per regulations.
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Ongoing Management Role: Must maintain documented day-to-day management roles in the job-creating enterprise.
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Residency Requirement: Must reside in the EB-5 project location until conditions are removed.
Typical EB-5 Project Timelines
The EB-5 process spans 4-8 years from start to permanent residency. Typical time frames:
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I-526 Petition: Commonly, it will take 12-24 months for USCIS petition approval.
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Conditional Permanent Residency Period: Currently most investors get 2-year conditional green cards about a year after I-526 approval through filing the I-485 or immigrant visa application.
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I-829 Petition Review: Takes 12-48 months. This leads to the removal of conditional status if approved.
Frequently Asked Questions About EB-5
Here are answers to some typical questions on navigating the EB-5 visa process:
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Can Family Members Also Gain Green Cards Through Eb-5 Investments?
Yes, spouses and unmarried children under 21 can also be included on the investor’s application to receive conditional and permanent green cards.
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Do Eb-5 Investors Qualify For U.S. Citizenship?
Yes, EB-5 investors can naturalize and become US citizens 5 years after the original date of receiving conditional permanent residency.
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Can An Eb-5 Investor Replace A Lost Green Card?
Yes, it is possible to replace a lost or damaged green card. Simply submit USCIS Form I-90 and the required supporting documents.
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What Happens If The EB-5 Project Fails?
As long as the initial petition was made in good faith, investors potentially retain green card eligibility even if unsuccessful if the jobs were created. If the jobs were not created and sustained, or the investment funds were not properly allocated, it could mean the EB-5 petition is denied, or the I-829 is denied.
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How Much Money Must An EB-5 Investor Show As Proof Of Funds?
Investors must usually demonstrate they legally hold the minimum $900K investment amount (or $1,050,000 if not investing in a TEA), plus any additional buffer funds.
Conclusion
The EB-5 process can provide high-net-worth investors and families exclusive access to U.S. permanent residency. However, properly navigating every legal complexity requires guidance from the right immigration lawyer. Feldman Feldman & Associates PC leverages decades of hands-on EB-5 experience to help clients navigate each step successfully while avoiding undue risk. Reach out today to schedule your free consultation.
