Orlando Immigration Lawyer
Permanent resident status based on EB-5 eligibility is available to investors, either alone or coming with their spouse and unmarried children. Eligible aliens are those who have invested — or are actively in the process of investing — the required amount of capital into a new commercial enterprise that they have established. They must further demonstrate that this investment will benefit the United States economy and create the requisite number of full-time jobs for qualified persons within the United States.
In general, “eligible individuals” include those
1. Who establish a new commercial enterprise by:
- Creating an original business;
- Purchasing an existing business and simultaneously or subsequently restructuring or reorganizing the business such that a new commercial enterprise results; or
- Expanding an existing business by 140 percent of the pre-investment number of jobs or net worth, or retaining all existing jobs in a troubled business that has lost 20 percent of its net worth over the past 12 to 24 months; and
2. Who have invested — or who are actively in the process of investing — in a new commercial enterprise:
- At least $1,000,000, or
- At least $500,000 where the investment is being made in a “targeted employment area,” which is an area that has experienced unemployment of at least 150 per cent of the national average rate or a rural area as designated by OMB; and
3. Whose engagement in a new commercial enterprise will benefit the United States economy and
- Create full-time employment for not fewer than 10 qualified individuals; or
- Maintain the number of existing employees at no less than the pre-investment level for a period of at least two years, where the capital investment is being made in a “troubled business,” which is a business that has been in existence for at least two years and that has lost 20 percent of its net worth over the past 12 to 24 months.
Florida Immigration Attorney
Applying for Permanent Residence (2-Year Conditional Green Card)
Once the petition is approved, investors have the option of adjusting their status to permanent residence in the U.S., if they are already living in the U.S. in non-immigrant visa status. If they live outside of the U.S., they must complete the immigrant visa process through the U.S. consulate. Adjustment of status in the U.S. generally takes approximately 3 months, while immigrant visa processing through the consulate takes about 4-6 months. Once either of these two processes is completed, the investor will have obtained a two-year conditional permanent residence.
Removal of Conditions (Applying for the permanent green card)
During the final 90 days of the two-year conditional residence period, the investor must file the Petition by Entrepreneur to Remove Conditions to remove the condition from his/her permanent residence.