How long does the Green Card obtained with the EB-5 Program last?
The EB-5 Immigrant Investor Program allows foreign investors to obtain a Green Card so that he and his immediate family can live in the USA. But how long does that residence card last? We tell you here.
The EB-5 Program for Immigrant Investors offered by the US Citizenship and Immigration Services (USCIS) is intended for immigrants who want to obtain a permanent residence card in the US.
The Green Card grants the immigrant the right to live and work permanently in the country. While EB-5 immigrants may eventually receive citizenship, they must first hold their green cards for at least two years before they are eligible.
The length of time it takes to obtain your EB-5 Green Card or Permanent Resident Card will depend on the amount of investment you make and where the investment is made.
It is important to know that the Green Card obtained from the EB-5 Program provides the same rights and benefits as permanent resident cards obtained through family-based or employment-based immigration.
EB-5 Green Card Duration Time
The EB-5 Immigrant Investor Visa Program is a permanent residency program that allows foreign investors to obtain a Green Card in the United States. The EB-5 program offers a path to US citizenship if you invest $800,000 or more in an approved business that creates at least 10 jobs.
The investor must also show that their investment will not displace any existing employees and will provide a public benefit to the US If you are granted conditional permanent resident status and your petition is approved, you will be able to remain in the US while you meet the requirements of your EB-5 investment.
Once these requirements are met, USCIS will approve your conditional permanent residence and issue you a green card valid for two years from the date your petition is approved (unless otherwise noted).
You must now file Form I-894 with USCIS to remove the conditions on residence and file Form I-829 with USCIS requesting removal of the conditions on residence no later than 90 days after expiration of permanent resident status conditional.
Green Cards obtained through the EB-5 Immigrant Investor Program are valid for 10 years, after which they must be renewed. Currently, the United States government issues only 10,000 immigrant visas a year for EB-5 green cards.
Complete EB-5 Program Process
The first step to apply for an EB-5 visa is to locate a project with the requirements established in the program. Then, the investor must hire an immigration attorney to apply to enter the program, completing Form I-526.
In this step, the interested party must make the investment of 800,000 USD and make the origin of the capital used transparent, for which they must have a legal source and route of funds.
The next (optional) step is, once the first form is approved, to present a second document known as Form I-485 that will allow obtaining an immigration status to reside in the USA while obtaining the Green Card.
Once this period has elapsed, the investor is now in a position to adjust his immigration status from “non-immigrant” to “permanent resident”. Procedure that is recommended to carry out through a lawyer.
The average time to obtain a Green Card is 2 to 3 years. Although this period can be reduced if it is a project of national interest or located in a rural area.