There are often a number of questions that people interested in the EB-5 visa want to ask. One such question is whether, since the investment amount is so high, several investors can combine their money together? The current rules on this aspect are explained below:
Although more than one investor can join together in the same business project, they are required to meet the investment requirement individually.
This means that individual investors (unless they are dependents of the same investor) are not eligible to qualify under 1 single investment under the EB-5 program. The family members that would be considered eligible for the program would be the dependents of the investor. The term dependent refers to the investor’s spouse and unmarried children (Children must be below the age of 21 at the time the application). In this case, each individual in the family could share the investment into the EB-5 program, while filing their petition under a single individual investor. Each member of the family would also be eligible for their own green cards.
Aside from the above dependents, each person must make their own investment according to the requirements of the program.
EB-5 Investment Amount
It is true, the investment for the EB-5 program is expensive and is often out of reach for most foreign nationals. Investors should remember that if they fail to fully invest the required amount, they will not be eligible for green cards.
The investment requirement is not the only part of the EB-5 program to consider. Each investor must also be concerned with being able to invest in a business venture that will create at least 10 full-time positions for American workers (this aspect is usually taken care of by the regional center or general partner of the fund / project you’re investing in).
Ideally investors should invest in projects that have a business model that will only use a small portion of the EB-5 funding while still creating the required jobs needed to qualify.
The following information concerns the definition of the Green Card and what investors need to do in order to obtain one for themselves and their family.
The Conditional Green Card
Once an investor of the EB-5 visa program has met the required qualifications, he or she will be eligible to apply for a conditional green card. This is a temporary green card that is good for a two-year period. When the investor has completed the final requirements needed, the permanent green, which last for ten years, can be issued. As far as the major differences between the two types of green cards, only the validity period is truly different. The investor becomes eligible to receive the green card for themselves and family members once the I-526 has been approved. The family members that are eligible for the conditional green cards, as well as conditional residency status, are the investor’s spouse and any unmarried children under the age of 21 living at home.
After the initial waiting period of two years is completed, the investor must file the i-826 petition which will remove the conditional status. However, in order for the I-826 to meet approval, the investor must show that at least 10 full time positions were filled in their business venture for American workers and the investment amount was sustained throughout the project.
For more information concerning Green Cards and the EB-5 visa program, contact us on [email protected]
