You’ve probably heard of the “Million Dollar Green Card” or the option to “purchase a Green Card”— typically known as the EB-5 visa, obtained through the Immigrant Investor Program. The program was created in 1990 as part of the Immigration Act and was last updated in 2019. It allows foreign entrepreneurs who invest a significant amount of money in the United States to obtain a Green Card. Because they fall under the employment-based fifth preference visa category, these noncitizens are sometimes known as “EB-5 immigrant investors.”
The Green Card through investment is particularly appealing for self-employed and company people. The investor Green Card is an effective way to enter the United States without waiting extended periods if applicants have enough money or other assets. Once all requirements have been met and approved by USCIS, EB-5 visa applicants, their spouses, and their children under 21 will be granted Permanent Residency in the United States (a.k.a. a “Green card”). The United States Citizenship and Immigration Services (USCIS) established various requirements for obtaining permanent residency via the EB-5 visa program. The summarized requirements are as follows:
- The investor must meet capital investment amount requirements; typically, $800,000 or $1,050,000 is required for a U.S. commercial enterprise.
- Create at least ten full-time positions for qualifying employees, and
- Ensure that the business receiving the investment is eligible for the EB-5 program.
All EB-5 investors must invest in a new commercial enterprise that was established:
- After Nov. 29, 1990; or
- On or before Nov. 29, 1990, that was:
- Purchased and the existing business is restructured or reorganized in such a way that a new commercial enterprise results; or
- Expanded through the investment, resulting in at least a 40% increase in employees’ net worth.
Commercial enterprise means any for-profit activity formed for the ongoing conduct of lawful business, including:
- A sole proprietorship;
- Partnership (whether limited or general);
- Holding company;
- Joint venture;
- Corporation;
- Business trust; or
- Other entities may be publicly or privately owned.
A commercial enterprise that consists of a holding company and its wholly-owned subsidiaries is included in this definition if each subsidiary is engaged in for-profit activity.
How to Apply
If an applicant is currently residing in the United States and meets the requirements for an EB-5 immigrant investor visa, he may file Form I-485, Application to Register Permanent Residence or Adjust Status, to apply for a Green Card without leaving the country. Only after USCIS has granted Form I-526, Immigrant Petition by Alien Entrepreneur, and a visa is immediately available may he file Form I-485.
What to Submit as a Principal Applicant
An EB-5 immigrant investor on Form I-526 is called the principal applicant. As the principal applicant, one should submit the following documentation and evidence to apply for a Green Card as an EB-5 immigrant investor who is already in the United States:
- Form I-485, Application to Register Permanent Residence or Adjust Status;
- Copy of the Form I-797, Approval Notice, for your Form I-526 petition;
- Two passport-style photographs;
- Copy of your government-issued identity document with photograph;
- Copy of your birth certificate;
- Copy of your passport page with nonimmigrant visa (if applicable);
- Copy of your passport page with admission or parole stamp (issued by a U.S. immigration officer) (if applicable);
- Copy of Form I-94, Arrival/Departure Record, or copy of the U.S. Customs and Border Protection (CBP) admission or parole stamp on the travel document (if applicable);
- Proof that you have continuously maintained a lawful status since arriving in the U.S.;
- Form I-693, Report of Medical Examination and Vaccination Record (you may submit this form together with Form I-485 or later, such as by mail when we request it or in person at your interview, if any);
- Certified police and court records of criminal charges, arrests, or convictions (if applicable);
- Form I-601, Application for Waiver of Grounds of Inadmissibility (if applicable);
- Form I-212, Application for Permission to Reapply for Admission into the United States After Deportation or Removal (if applicable);
- Documentation of past or present J-1 or J-2 nonimmigrant status (if applicable), including proof of compliance with or a waiver of the 2-year foreign residence requirement under INA 212(e) (for more information, see Form I-612, Application for Waiver of the Foreign Residence Requirement);
- If you currently hold A, G, or E nonimmigrant status, include Form I-508, Request for Waiver of Certain Rights, Privileges, Exemptions, and Immunities;
- Form I-566, Interagency Record of Request – A, G or NATO Dependent Employment Authorization or Change/Adjustment to/from A, G or NATO Status (only if you have A, G, or NATO nonimmigrant status); and
- Form I-485 Supplement A, Adjustment of Status Under Section 245(i) (if applicable).
Applicants must submit the correct filing fee for each form, unless they will be exempt or eligible for a fee waiver.
