EB-5—A Pathway to US PR
The US is commonly known as a top destination for investors. It is an attractive, promising, and prosperous location for both investors and aspiring investors. The EB-5 Immigrant Investor Program is a route many opt for when planning to move permanently to the US. For many individuals, it is the most efficient and straightforward route to ensure a green card. For most investors, this program involves loaning the required investment amount to be used in the construction and development of large commercial or residential real estate projects.
The program was built around generating jobs for the US economy. It requires foreign individuals to invest in a new commercial enterprise “associated with government-approved regional centers based on proposals for promoting economic growth.” Investors must either invest $1,050,000 into a non-targeted employment area project or $800,000 into a targeted employment area project in an area of the States with high unemployment or rural locations. Secondly, they must create or preserve ten permanent full-time jobs for qualified US workers. Only then does the investor receive the green card; funds must generally stay invested for at least five years before “permanent resident” status is granted. Under a new and modernized EB-5 law that took effect in 2022, the government has special “set aside” quotas for investors that choose to invest in rural, high unemployment, and infrastructure projects. By investing in one of these categories, the investor may be able to avoid potential backlog/queue issues. The government has indicated it will process cases in rural areas in a more expedient manner than other petitions in non-rural areas.
The EB-5 Immigrant Investor Program process typically takes 30 to 36 months to receive the initial conditional green cards. However, it is possible for some investors in rural projects to receive approvals in less than 12 months. Immediate family members (spouse and dependent children under 21 years of age) are considered in the primary investor’s petition, and they can become permanent residents of the US within a short period of time too. It is important to note that individual applicants must have a net worth of USD 1 million or more and provide proof that their funds come from legal sources to qualify and attain the EB-5 Visa.
For investors interested in whether the newly elected Trump administration taking office in 2025 will focus on immigration policy changes that could be detrimental to EB-5 investors—this is highly unlikely. The EB-5 program was largely left alone during the prior administration, and the Trump family itself has been involved in EB-5 related projects. The program is a low-cost source of capital to spur economic development in areas of the US that require it the most—in addition to creating tens of thousands of jobs for US citizens.
Michael B. Dye, Esq. is an immigration attorney and founder of the Law Offices of Michael B. Dye. Please reach out to him to learn more about the EB-5 Immigrant Investor Program (www.mikedyelaw.com; mike@mikedyelaw.com) .
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