EB-5: Invest in the US for Permanent Residency - Part Three of a Four-Part Series

This is a continuation of our four-part series on the EB-5 green card program.  Part one was featured in ILG’s October 2011 Newsletter and Part two appeared in the January 2012 Newsletter.

 

Regional Center I-526 Application Process

 

Once the EB-5 investor decides on a regional center (RC), the EB-5 investor will be counseled by an Immigration Law Group attorney to follow these steps:

 

Step 1: Register and review investment offering materials of the selected RC

 

Step 2: Wire investment funds to the RC’s escrow account and file the I-526 petition

 

·    I-526 petition processing typically takes about 6 to 8 months (premium processing is anticipated to be available later this year to bring processing time down significantly at an additional cost).

 

·         Upon I-526 approval, overseas investors must be interviewed at their local U.S. Consulate or Embassy, while investors in the U.S. must file an I-485 petition to adjust their status to permanent residency.    In either case, this step, which will result in the issuance of the conditional visa (green card), typically takes 3 to 5 months.

 

·    Upon receiving the conditional visa (conditional green card), the principal investor and family member(s) must enter the U.S. within 180 days.  The two-year conditional period starts the day the investor enters the U.S.

 

Step 3: File the I-829 petition and receive permanent green card.

 

·    The final step of the immigration process is the filing of the I-829 petition to remove conditions to receive unconditional green card status.  The I-829 is filed between 21 and 24 months after U.S. entry.  I-829 processing typically takes about 6 months.

 

·    Upon approval, the immigrant investor will be issued a new unconditional green card and may permanently live and work in the U.S.

 

In short, it generally takes 9 to 12 months to receive conditional green card status (Step 2), and another 2 years to receive permanent green card status (Step 3).

 

The investor can apply for U.S. citizenship after 5 years of green card status (2 years of conditional green card status plus 3 years of permanent green card status).