How to Get EB5 Green Card?
The EB5 visa program is specifically designed for foreign investors and their spouses and unmarried children under the age of 21 to get permanent resident status through qualifying investments. In order to get the EB5 green card through the EB5 visa program, it is essential to follow the below steps:
Select the right EB-5 project
The first and foremost step is to select the right project to invest in. There are primarily two investment options available. Foreign investors can either invest directly into a new commercial enterprise project through Regional Center approved by the United States Citizenship and Immigration Services. Direct investment needs direct job creation. Although many investors prefer to invest in project sponsored through regional centers that count indirect and induced job toward job creation needs.
Invest in the capital and file an I-526 petition
After choosing an EB5 project, you have to invest the capital needed by the EB 5 program. The investment amount $1,800,000 is required unless the project is located within a targeted employment area, in which the investment amount is $900,000. In addition to this, it is essential to file the I-526 petition with the United States Citizenship and Immigration Services.
Get a conditional permanent resident status
Once the I-526 petition is approved, you can apply for conditional permanent resident status. If you do not have an immigrant visa, you have to submit Form DS-260 to the National Visa Center and be processed through your home country’s United States consulate or embassy. If you are already legally residing in the US, you must file Form I-485 that will change your status to conditional permanent resident.
File an I-829 Petition and then eliminate conditions from the resident status
Conditional permanent resident status generally expires after two years. And, it cannot be renewed. When it comes to maintaining resident status, you must file an I-829 petition within the last 90 days of the conditional residence period. After approval, you and your family will get legal permanent resident status.
Citizenship (Optional)
Five years after you get initial conditional permanent resident status, you and your family members have the option to become citizens of the United States. For this, you have to submit Form N-400, Application for Naturalization to the United States Citizenship and Immigration Services. Once the form has been processed, you will be called for an interview where you have to pass a U.S. civics and English language test.