Ike Agwuegbo & Co P.C.
Ike Agwuegbo & Co
15 Ocean Avenue
Suite 2C
Brooklyn, NY 11225
United States
ph: 718-355-0585
fax: 718-228-4298
info
EB 5 VISA FREQUENTLY ASKED QUESTIONS
- Who is eligible for an EB-5 Investor Green Card?
- Individuals from all countries are eligible for an EB-5 green card. Unlike the E-2 Treaty investor visa, there are no countries precluded from the EB-5 category. Individuals with prior criminal or immigration violations may not be eligible, and should discuss their individual circumstances with an immigration lawyer. Complete truthfulness with your attorney is very important.
- Can I receive the EB-5 investment funds as a gift?
- Yes, but the person giving the gift will need to demonstrate that he/she lawfully earned the funds.
- Can someone loan me the funds for my EB-5 investment?
- Sometimes. The critical factor is that repayment of the loan cannot be secured by the assets of the enterprise. Repayment of the loan may be secured by other assets of the petitioner that are unrelated to the EB-5 enterprise.
- How can I tell whether I will need to invest $1,050,000 or $800,000?
- The typical investment under the EB-5 program is $1,050,000 UNLESS the investment is in a Targeted Employment Area (TEA), area of high unemployment, or in a rural area. The good news is that many regional centers operate in TEA’s, offering lots of potential investment options to obtain an EB-5 green card for a $800,000 investment.
- How long does the EB-5 green card process take?
- In total an investor can expect to wait 8 to 14 months to obtain a green card. This includes 2 -4 weeks to prepare the EB-5 petition (longer if the investor needs more time to acquire their documents), 5 to 7 months for USCIS to adjudicate the I-526. After adjudicating the I-526 , the applicant must apply to obtain his/her permanent residency card based on the approved petition. Processing times are about 3 to 6 months regardless of whether the investor applies through the consulate (if outside of the U.S.), or through USCIS (if inside the U.S.).
- Will My Spouse and children also receive a green card?
- Yes, your spouse as well as any unmarried children under the age of 21 can receive derivative green cards from a single EB-5 investment, provided the relationship is created before the EB-5 investor obtains permanent residency.
- What documents will I need to supply?
- The documents will vary depending on each individual’s case. Your immigration attorney will work with you to determine what is necessary to support your EB-5 petition. One of the critical issues is verifying the lawful source of the EB-5 investor’s investment funds. To satisfy this requirement, an investor will typically need to supply 5 years of tax returns, and various bank statements tracing the path of the funds from when they were earned until when they are invested. Additional business documents and tax returns for any businesses the EB-5 investor has an ownership interest in may also be required. An investor also needs to submit extensive documentation relating to the project and a detailed business plan. One of the advantages of investing through a regional center is that the regional center takes care of these aspects as well as creating the 10 jobs.
- When can I take my money out the EB-5 enterprise?
- This will depend on the project and/or the regional center. USCIS has indicated that the money should be committed for at least 5 years, but this does not appear in any regulation. Most regional centers have a timeline of at least 5 years before the investor may sell their limited partnership interest. If doing a stand alone project, you should also plan on having the money committed for at least 5 years.
- Will I earn any interest on my investment or receive dividend payments?
- This will depend on the specific project the EB-5 investor chooses, but some projects do pay dividends and/or interest.
Copyright 2013 Ike Agwuegbo & Co. All rights reserved.
Ike Agwuegbo & Co
15 Ocean Avenue
Suite 2C
Brooklyn, NY 11225
United States
ph: 718-355-0585
fax: 718-228-4298
info