EB-5 (Job Creation) Investor Green Card Pursuit, Regional Center Approach & TEA Designation Information

by Sheppard Mullin Richter & Hampton LLP
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Under Section 203(b)(5) of the Immigration and Nationality Act, 10,000 immigrant visas per year are available to qualified individual investors (and accompanying spouse & minor children) seeking to obtain permanent resident "green card" status in the United States on the basis of their qualifying financial investment of at least $1,000,000 (or under certain circumstances $500,000 in defined Target Employment Areas) into a new commercial enterprise in USA, as well as their "management" role within the invested commercial enterprise that will create the jobs and employ at least 10 full-time U.S. workers.

Many federal immigration regulations and legal precedents that govern these EB-5 petition filings and underlying eligibilities. They help to define, amongst other things: the nature, size, scope, and origin of the qualifying financial investment; the nature and status of the U.S. commercial enterprise that will serve as the EB-5 vehicle; the "At-Risk" nature of the invested/created commercial enterprise being operated; the direct creation and maintenance of at least 10 full-time jobs for at least two-plus years to qualifying U.S. workers (other than applicant or family); the "management/overseeing" roles/tasks that the investor must be accorded, and the types of business records that must accompany a complete EB-5 immigration filing. Altogether, the initial EB-5 immigrant petition filing (via USCIS Form I-526) and the removal of condition filing (via USCIS Form I-829) two years later are complicated and require ample supporting documentation to achieve USCIS approval, so not only should the foreign investor consult proper business attorneys and related professionals before making the EB-5 investment planning, they are also best served to have immigration attorneys assist/represent them in making the requisite USCIS immigration petition filings.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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