Lifting the Conditions on the EB-5 Visa to secure Permanent Status

For affected persons knowing the proper procedure of removing the “Conditional” status on the EB-5 visa in order to gain Permanent Residence Status is vital information. The following is what needs to be known in order to complete the process and gain Permanent Status.

The first thing that needs to be accomplished is to complete the I-829 Petition by Entrepreneur. This form will allow the immigrant investor to change their condition status from Conditional Permeant Resident to full Permanent Resident Status in 90 days before their second-year anniversary of the approval date of the initial application or when the investor first entered the United States on their immigrant visa.

Conditional status removal

The USCIS also requires the following to remove the conditional status:
1. Evidence must be presented that shows the investor has made or in the process of making the appropriate investment amount while maintaining the requirements during the time period. This evidence for the investment may come in the form of a financial statement or other probative documentation.

2. Evidence also must be provided that the investment was kept “at-risk” and properly sustained throughout the allotted time period. This evidence could take the form of federal and state tax statements (or quarterly tax statements), bank statements, receipts, invoices, contracts or business licenses.

3. The USCIS also requires the investor to show proof that the investment has created or is expected to create the 10 full-time job positions for American workers in the allotted amount of time. Appropriate evidence for job creation can take the form of tax documents, payroll records, the Form 1-9s or the Employment eligibility verification. A business plan may also be used to show proof that the jobs being created. This can be provided after the adjudication of the I-829 providing the investor with flexibility.

It is also important to remember that if the investor has decided to go through a Regional Center, indirect job creation is also considered to be acceptable for the job creation requirement. However, the investor is still required to provide the USCIS with evidence of indirect job creation. This can be achieved by using a number of methodologies that can prove the jobs were indeed increased during the time period. These methods could include comprehensive studies of foreign and domestic markets on the products that may be exported or other statistics which can provide an accurate account of the economic increase caused by the new investment venture.

No Comments

Sorry, the comment form is closed at this time.