This is what you should know about obtaining a Green Card with the EB-5 Program
The EB-5 Immigration Program allows foreign investors to apply to obtain a Green Card through an investment in real estate, so that he and his family can live and work without problems in the United States. We tell you the details here.
There are currently several ways to obtain US residence, and one of them is the EB-5 Program, which through an investment –with special characteristics– can grant the long-awaited Green Card in the US.
The United States Government offers this opportunity to foreigners who are looking to move to live in the country and meet the requirements to enter the program.
The complexity of global economic markets and the large number of immigrant workers seeking to create a new life have made this federal program very popular, which each year receives more applications from various countries. But first, what is the EB-5 Program?
What is the EB-5 Immigrant Investor Program
The EB-5 Immigrant Investor Program was created by the United States Congress in 1990 as part of the Immigration Act. Its primary goal is to stimulate economic growth and create jobs in the United States.
Over the years, this program has changed the way capital is invested, creating jobs, improving regional infrastructure, and stimulating local economies throughout the Americas and the world.
Who administers this program? It is the US Citizenship and Immigration Service (USCIS) who is in charge of enforcing the law in this case. And under this program, investors and their spouses and unmarried children under the age of 21 are eligible to apply for a Green Card by meeting two main requirements.
Making a real estate investment in a business enterprise in the United States
Plan to create or retain 10 permanent jobs for skilled US workers.
The program’s EB-5 acronym was chosen because of the employment-based fifth preference visa category.
Process to obtain the Green Card in the EB-5 Program
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 lawyer to apply to enter the program, completing Form I-526.
In this step, the interested party must make the investment of USD 800,000 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 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 years. Although this period can be reduced if it is a project of national interest or located in a rural area.
Do EB-5 investors get their investment back?
Investor repayment is an important part of the EB-5 process, which is why there have been numerous financial-related studies and analyzes of whether investors in an EB-5 project recover their investments.
The short answer is yes, investors get their investment back. Also, in most cases, EB-5 investors earn significant returns on their investments. Then, EB-5 investors can be assured that the capital used will be returned in full.
The process begins with the capital investment of 800,000USD. Then, throughout the entire process, the investor will receive fixed annual returns in dollars.
And finally, once the project selected for the program is finished, the investor will be granted a distribution of benefits in addition to what has already been obtained.
Archer Place: A real estate project structured to the EB-5 Program
As we saw previously, the first step to apply to the EB-5 Program is to locate a project with the established requirements. A new student housing project, which has already been approved in Florida, looms as one of the most important in recent years in the state of Florida.
We are referring to Archer Place, a mixed-use building located just steps from the University of Florida and that will offer student residences, condominiums for rent, and commercial spaces.
Archer Place is developed by BAI Capital, an American company with more than 13 years of experience in raising capital, investing and generating investment value. And it has all the necessary characteristics to be considered as an EB-5 project.
In other words, investing in Archer Place together with BAI Capital will allow you to enter the program and apply for a Green Card or permanent residence. Archer Place It will have 92 apartments for sale, 164 luxury apartments for student rental and commercial areas to include services for residents.
Jason Fort, Executive Vice President of Asset Living, a company with more than 36 years of experience in the student housing market in the United States, commented that Archer Place is a unique project due to its excellent location, very close to the University of Florida, restaurants and malls.
“It is definitely what the students are looking for, it is a project that will work very well. I wish it was already built, I wish it was already there. We could move students tomorrow because it’s certainly something they’re going to like.”
Investing in BAI Capital is investing in the United States
With a presence in the real estate sector in the states of Florida, Texas and New York, BAI Capital specializes in generating value from the acquisition of land to the development of mixed-use projects, such as residences for the elderly, student residences, multifamily buildings. for rentals and mixed use, including condos and retail.
Our mission is to safeguard the capital of the partners and the own capital under the minimum risk exposure. With a safe development and going through all the stages: Land purchase, adjustment of urban zoning, commercial vision in architectural development and management of building permits. Then, we take charge of the capitalization, construction and exit with return of the capital and profits to the partners.
In this way, we guarantee fixed and stable returns for your client portfolio. In addition to having a confidential work protocol with encrypted web forms. Use of protected personal data and private meetings with our agents throughout Latin America.