Obtaining permanent residency in the United States is an achievable goal for foreign investors through the EB-5 visa program. This program offers a direct route to obtaining a Green Card through a significant financial investment in the U.S. economy.
In this article, we will focus specifically on the application process for permanent residency in the United States and the crucial stages that must be followed to achieve it.
But… first things first.
What is Permanent Residency?
Permanent residency in the United States is a legal status that allows foreigners to live and work in the country indefinitely. Permanent residents enjoy numerous benefits, including the right to work any job without foreign labor restrictions, access to social and educational benefits, and the possibility of applying for U.S. citizenship after five years of residency status. Moreover, this status provides greater stability and security, allowing permanent residents to build a prosperous future for themselves and their families in the United States.
Keep reading to discover what requirements are necessary to obtain permanent residency through the EB-5 visa program.
Steps to Obtain Permanent Residency Through the EB-5 Visa
1. Identify an Investment Opportunity
The first fundamental step is to find an investment opportunity that meets the EB-5 program’s criteria. This investment can be directly in a business you own or through a regional center approved by the U.S. Citizenship and Immigration Services (USCIS). The key is ensuring the investment meets the required amount and job creation criteria.
2. File the I-526 Petition
The application begins with the filing of the I-526 petition. In this petition, you must demonstrate that your investment meets the program’s requirements and that the funds used come from a legal source. The successful submission of the I-526 is the first step towards conditional residency, which is what it sounds like: residency that is dependent on meeting specific conditions to obtain a more permanent status It is a temporary status.
3. Get the I-526 Approved and Apply for Conditional Residency
Once your I-526 petition is approved, you can proceed to apply for a two-year conditional residency. This step is done through the I-485 form if you are already in the United States, or through consular processing if you are outside the country. There is some important and valuable benefits of conditional residency: specifically, it allows you to live and work in the United States while overseeing your investment.
During the two-year conditional residency period, your investment must continue to meet the EB-5 program’s requirements, including the creation of the necessary 10 full-time jobs. Constant oversight of your investment is essential to ensure all conditions are met and maintained.
At Invest Miami EB-5, we highlight investment projects that facilitate and guarantee compliance with all American Green Card requirements. Contact us to learn about our current investment opportunities.
4. File the I-829 Petition to Remove Conditions
Within 90 days before the second anniversary of your conditional residency, you must file the I-829 form. This petition is crucial as it seeks to remove the conditions of your residency and convert it into permanent residency. You must demonstrate that you have met all the requirements of the EB-5 program, including job creation.
5. Obtain Permanent Residency
Once your I-829 petition is approved, the conditions of your residency will be removed, and you will obtain the Green Card, granting you permanent residency in the United States. This allows you and your family to live, work, and study anywhere in the country without restrictions. Permanent residency also opens the door to applying for U.S. citizenship after five years.
Learn About Investments Suitable for Applying for Your EB-5 Visa
While there are multiple categories of permanent residency, the EB-5 program is one of the most direct options for foreign investors.
If you are ready to start your path to permanent residency in the United States, don’t hesitate to contact us. We look forward to helping you find the EB-5 investment opportunity that is right for you.
