Michael J. Spychalski
EB-5 has been growing in recent years for individuals who invest 1 million dollars or in some circumstances $500,000. However, the processing time for these applications has also grown. Premium processing used to be available but is not anymore. When you pay an extra fee under premium processing, immigration would give you an answer within 15 days. Without premium processing and processing times increasing, it can now take close to a year.
To file for an EB-5, one must send a petition to immigration. To get this petition approved, one must prove that they are investing in a new commercial enterprise, managing the enterprise, investing one million dollars that was obtained legally, and creating 10 jobs. If you are investing in a troubled business, then 10 jobs must be maintained. If this petition is approved, then the applicant can file for a conditional residency for two years. To break these conditions after two years, one must prove to immigration that 10 actual jobs were created or maintained (if troubled business).
Your spouse and unmarried children under the age of 21 may be admitted to the U.S. with you on a two-year conditional period. If your petition to remove conditions is approved, the conditions will be removed from your spouse and children’s Green Card status. As lawful permanent residents (Green Card holders) your spouse and children will be authorized to work or attend school in the U.S.
This is a simple explanation of the EB-5 process. The reality is that EB-5 is very complex and advice from an immigration attorney should be sought.