USCIS Pledges to Improve the EB-5 Green Card Through Investment Program

The Huffington Post published "USCIS Works to Improve the EB-5 Visa Program. Will Congress Follow Suit?" by EB5 Investors Magazine's CEO Ali Jahangiri.  Recently appointed program director Nicholas Colucci at an EB-5 stakeholders conference call pledged that USCIS will not only attempt to process forms more efficiently, but it also aims to increase its competency in the due diligence department.  As of September 2013, there were 7,131 petitions currently pending, pointing to a need for increased efficiency at USCIS.  Approving projects that are well-planned and likely to succeed will continue to strengthen the EB-5 program's image, as well as provide much needed benefits to the U.S. economy. Click here to read the full article.

Foreign Nationals Investing in the U.S.: Green Card Through Investment

August 12, 2013

Employment-based 5th preference category (EB-5) provides a method of obtaining permanent residence (green card) for foreign nationals who invest capital in the U.S. Foreign investor must invest $1,000,000 (or at least $500,000 in a "Targeted Employment Area"), creating or preserving at least 10 full-time jobs for U.S. workers, excluding the investor and his immediate family. Under the Pilot Program investment can be made directly in a job-generating commercial enterprise (new or existing), or into a "Regional Center," a third party-managed investment vehicle, which assumes the responsibility of creating the requisite jobs.

If the foreign investor's petition is approved by USCIS, the investor and his dependents will be granted conditional permanent residence valid for two years. Within 90 days prior to the expiration of the conditional permanent residence, the foreign investor must submit evidence documenting that the full required investment has been made and that 10 full-time jobs have been maintained, or 10 full-time jobs have been created or will be created within a reasonable time period.  EB-5 makes for an excellent vehicle to secure permanent residence in the U.S. for the investor and his family.