Ah America, the land of opportunity. In years gone by, people all over the world have wanted their piece of the American Dream.
The good news is, now they can. If you’re an investor or entrepreneur and want to move to the US for business, it’s time to get to grips with the EB-5 visa.
The EB-5 Visa, also known as the ‘Golden Visa‘ is one of the easiest routes to US residency. Here, we’ll talk you through everything you need to know about application, timeline and more.
What Is The EB-5 Visa?
The EB-5 visa programme was created by U.S. Congress in 1990 to encourage more business and investment to the country.
Essentially, people could get a green card as long as they invested in the economy. This helped drive forward economic growth and bring in successful foreign investors into the country.
Who Can Apply For The EB-5 Visa?
The EB-5 visa programme is open to people from any country, as long as they meet the following criteria.
It’s worth noting that one of the biggest benefits of the visa is that it doesn’t rely on having a sponsor from a company, so businesses and investors can operate independently.
Investment Amount
- $1.05 million in a qualifying U.S. business or
- $800,000 in a Targeted Employment Area (TEA), which includes rural areas or regions with high unemployment with the promise of creating at least 10 full-time jobs for US citizens within two years.
- The business must benefit the US economy by providing goods or services within the country (ie, you couldn’t set up a company to create products for elsewhere)
Traceable Funds
The funds used for the investment must come from a legal source and be trackable. This could be in the form of earnings, property or investment sales or through loans.
Essentially, the investment has to be proven to be clean money.
Why Is The EB-5 Visa Useful?
The EB-5 visa comes with a lot of advantages, including:
- Permanent residency (Green Card) meaning the investor, their partner and children under 21 the right to live and work in the U.S.
- Once someone has lived in the US for 5 years, they can apply for residency, allowing them to stay in the country indefinitely.
- Investors on the visa can live and work anywhere in the US.
- EB-5 visa holders get the benefits of in-state rates for public universities and access to the education system.
- The U.S. allows green card holders to keep dual citizenship, meaning you don’t have to give up any other passport.
However, EB-5 visa holders must also commit to:
- Paying U.S. taxes on global income – if investors have multiple businesses around the world, this could be a deterrent.
- EB-5 investors must commit to spending at least 180 days per year in the U.S.
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How Long Does The Process Take?
The EB-5 process can take 5–7 years to complete, though this does depend on which country you are applying from, as some have limits on how many visas they can dish out in a fiscal year.
However even the first form approval can take over 3 years, so it’s important to plan everything in advance to make the process as fast as possible.
How to Apply For The EB-5 Visa
If you are thinking about applying for the EB-5 visa, you’ll need to go through a few steps. In their simplest form, these are:
Step 1: Make Your Investment
Choose between investing in a company or investing in a region and submit the investment. Make sure you have proof of payment, as well as proof of where the funds came from.
Step 2: File Your I-526
The I-526 form (Immigrant Petition by Alien Entrepreneur) must be filled out and taken to the U.S. Citizenship and Immigration Services (USCIS). This lays out your investment or job creation plan, allowing you to meet the terms of the visa.
Processing can take between 35-52 months.
Step 3: Patiently Wait
Once approved by USCIS, your case is forwarded to the National Visa Centre in your country (NVC).
You will have to file a DS-260 form for an Immigrant Visa Electronic Application and then have an interview.
At the end of this, you will be able to enter the US on an EB-5 visa.
This can take 9-12 months.
Step 4: Conditional Green Card
Once you arrive in the US, you will have 2 years to submit an I-485 form, which allows you to apply for permanent residency.
You must do this after month 21, and if successful, you will get your unconditional green card.
After 5 years, you will be able to apply to US citizenship.
How Much Does The US Golden Visa Cost?
By design, the US golden visa isn’t cheap. Here are some of the costs you will have to pay:
- Investment: $1.05 million (general investment) or $800,000 (TEA investment).
- Form I-526: $3,675
- Form I-829: $3,750
- DS-260: $1,225 or $345
- Regional centre admin fees: $50,000–$70,000
- Legal fees and translation services if needed (around $3,500).
Is The US Golden Visa Worth It?
The EB-5 Investor visa gives foreign investors an opportunity to live and work in the US, whilst also contributing to its economy.
With the right planning, preparation and finances, you can get your piece of the American Dream.
Of course it goes without saying, but having a professional advisor certainly helps. Good luck!