- In 1990 the United States Congress created a permanent residence category for investors who invest in a commercial enterprise that will benefit the United States economy and create at least ten full-time jobs.
- The United States immigrant investor program is called the EB5 program which is short for Employment-Based 5th Preference.
- Success for immigrant investors in this program results in a permanent United States visa (Green card for themselves and qualified family members under the age of 21 at the time of filing the initial petition).
An EB5 Rural Area Targeted Employment Area (TEA) project is an investment made in locations outside of a metropolitan statistical area (MSA) having a permanent population of less than 20,000 people. The EB-5 Reform and Integrity Act (RIA), passed by the United States Congress in 2022, provides significant incentives to investors making investments in “rural areas”.
Investing in an EB5 Rural Area TEA project is particularly beneficial for foreign investors applying from countries with significant visa backlog such as China and India. Investors in Rural EB5 TEA Projects are additionally reserved 20% of the total EB-5 Visas allocated annually. Investors in EB5 TEA Projects enjoy the lower minimum investment requirement of only $800,000 as opposed to the $1,050,000 investment for non-TEA projects.
Concurrent filing is the term given to case types that can file an immigrant visa petition I-526 and adjustment of status at the same time, as opposed to first having to wait for the immigrant visa petition (green card petition) to be approved.
To whom is it applicable?
It is designed for foreign nationals that are the primary applicant and are already in the U.S. on another visa. The largest population is students on F-1 or F-1 OPT visas (student visa), people who have been sponsored by their employer on an H-1B or L-1 (employer visa), or entrepreneurs who have an E-2 visa through a business they run. It is also eligible for foreign nationals who hold a valid B1/B2 visa (tourist visa).
What are the benefits?
Concurrent filing lifts the restrictions that come with H-1B, E-2, B1/B2 and F-1 visas, allowing foreign nationals to freely live, work and study in the U.S similar to a green card holder.
This means that applicants don’t have to wait for their EB-5 petition to be approved. They can straight away apply for adjustment of status which permits them to apply for travel rights and work authorization immediately after filing of petition. As a result, for students on F-1 visas or people working on H-1B or individuals holding a valid B1/B2 visa (tourist visa), this is hugely important because it gives them a path, immediately after investing, to be able to live in the U.S., work, and travel just like a green card holder.
With over 25 years of experience in construction and immigration, Sternon Group has a team of highly qualified consultants and lawyers that assist our clients through each step of their application process. As a result, our range of services includes:
- Providing complimentary consultations in any of our offices situated in Dubai, India or the United States in order to cater to any questions you may have about the EB5 process.
- Collecting documents and ensuring applicants are qualified.
- Consulting and advising on personalised matters related to client.
- Providing updates on the client’s applications process.
- Preparing clients for their US Embassy interview.
The EB5 Immigrant Investor Program provides foreign investors a path to U.S. permanent residency and possibly citizenship through an investment in a U.S. business and the creation of 10 American jobs per investor.
- Eligibility for U.S.A. Citizenship
- Healthcare Benefits
- Educational Benefits
- Employment Opportunities
- Retirement in the U.S.A.
The EB5 capital from a foreign investor is used by a U.S. business to complete the selected EB5 approved project and create 10 American jobs per investor.
EB5 investors will get their money back when their immigration and investment cycles are completed.
Borrowed money can be used as part of the EB5 investment. Gifted money could also be used for EB5.
H-1B/ F1 or a valid B1/B2 visa holder can apply for an EB5 visa without affecting their current status.