The EB-5 real estate investment program was created in the USA in 1990 in order to improve the United States economy by creating jobs and stimulating capital investments by foreign citizens.
In 1992, the pilot program was launched. It showed excellent results. Since then, it’s being renewed on a regular basis. The EB-5 visas are being issued to citizens of other countries if they make a substantial real estate investment.
In order to become eligible for the EB-5 visa, you need to fulfill one of the following requirements:
1. Establish a new business or acquire an existing one.
2. Invest a minimum of a million dollars in a new business of half a million in an existing one.
3. Expand an existing business by at least 140% with increasing working positions.
4. Invest to assist an existing business, which lost 20% of its net worth in the past 1 to 2 years.
It’s should be noted that the for the first three, it’s necessary to create at least 10 working positions for the US citizens.
After the form is approved, you can get a resident status by registering I-485 form with USCIS, in case you are on the US territory. In case you are abroad, you need to send your application for an EB-5 visa to the US embassy. In order to get a resident status, you need to fill out the I-829 form.
USCIS I-526 application should be registered in the USCIS center in the area, where you are planning to conduct your business.
Legal resident status in the USA provides access to the majority of the benefits US citizens enjoy
The size of the investment aside, it’s still hard to say how much getting an EB-5 visa may cost. In the majority of cases, an investor needs the assistance of an experienced lawyer, who can help settle all the nuances of getting a visa. The overall approximate cost of the endeavor includes:
1.Investment - $500,000 (min)
2.Administrative fees - $50,000
3. Immigration Attorney fees – starting from about $15,000
4. Form I-526 fee - $3,675
5. Form I-485 fee - $1,225
6. Form I-829 fee- $3,835
Getting an EB-5 visa can be a lengthy process. For investors from some countries, it may take years.