Regardless of their reason for wanting to relocate, for an immigrant to live and work in the United States a Green Card Visa is required. One way of attaining a green card is through the EB5 visa program. This Immigrant Investor Visa allows foreign investors to earn a green card by investing in US businesses. There are certain qualifications that foreign nationals must meet in order to participate in the Eb5 Visa Program:
1. The investment must create a minimum of ten full-time jobs.
2. The investment must be at least $1,000,000 in areas of high unemployment and $500,000 in other areas.
3. The investment money used to invest in the business must be legally obtained.
4. The foreign national applying for the EB5 visa must be a member of the company’s management team.
To apply for an EB5 visa the immigrant needs to fill out form USCIS form I-526 at the USCIS center where the planned business will be located. The application requires the individual to provide the investment amount, the source of the funds, and how many employees are expected to work at the business they are investing in. In addition, all management personnel must be named.
If the petition is approved, the foreign national will be given conditional immigrant status. This status is valid for two years. However, 90 days before the two year period expires the foreign national must fill out USCIS form I-829 to remove the conditional standing. Failure to fill out form I-829 in the provided time frame will void the foreign national’s permanent green card standing. Should the foreign national comply and fill out form I-829 within the two year period, then the business will be reexamined. If the business is deemed a success then the conditional status is removed from the green card.
If the first EB5 visa application is denied by United States Immigration, the foreign national can usually appeal the decision. Only the person who submitted the original petition may appeal. To appeal form I-292 is required. There are deadlines that must be met in the appeal process, and failure to adhere to these deadlines may void any right to appeal. The foreign national is allowed a brief explanation to be sent with the appeal application.
Another way to proceed if the application is denied is to apply for the case to be reopened. To reopen a case, new facts that were not presented with the original application must accompany the motion to reopen the case. Another method, called motion to reconsider, must prove that the denial of the original petition was denied because of incorrect facts, or an inaccurate application of law.
Both the motion to reopen and the motion to reconsider must be filed within 30 days of the original denial. Furthermore, once the appealed decision is announced it is final. There are no other proceeding mechanisms available to overturn an appealed decision should the decision not favor the immigrant.Tags: Green Card Visa, Immigrant Investor Visa, investing, money