An Inside Look at the EB5 Investor Visa Program
By: Stanley Hermosillo | Posted: 29th December 2010
People from around the world immigrate to the United States, and do so for many different reasons. There are a variety of routes to take to obtaining a green card. One way of obtaining a green card is through the EB5 Investor Visa program. This article will take an in-depth look at the increasingly popular EB5 Investor Visa program.
If you are immigrating with the intent of starting a business in the United States, you may want to consider applying for an Eb-5 Investor Visa. The first step in applying for this visa is to fill out USCIS form I-526. This application must be sent to the USCIS center where you intend to launch your business. To ensure that the application is approved, you need to make sure that your intended business investment is beneficial to the United States in the form of creating at least ten full-time jobs. The venture's investment capital must be legally gained, and the applicant needs to be part of planned business’s management team.
Should your application be approved, you will initially be given a conditional citizen’s status that is legally binding for two years. Within 90 days before the conditional status expires you will need to fill out form I-829. The government will then reevaluate your business venture; if your business is doing well the conditional status is removed. Failure to fill out form I-829 within the specified time frame may jeopardize your ability to remain in the United States, and may also place your business venture at risk.
There are some situations when the Eb-5 Green Card petition can be denied. Should this happen, you may appeal the denied status. Form I-292 needs to be filled out to start the process, and there are certain time deadlines that must be met, so it is advised that any appeal be started immediately.
There are other means available to appealing a denied petition. You may file a “motion to reopen” or a “motion to reconsider” the original application. To file a motion to reopen your case, new facts that were not presented in the original petition must be presented. The motion to reconsider alternative must offer proof that the original denied decision was based on erroneous facts, or there was a mistake in interpreting/applying the law to your original petition.
It is important that these two motions be filed within the 30-day window from the original denied decision. In addition, any decision from these motions or appeals is final; there are no other avenues you can take to overturn an appeal. Because of the different complicated aspects of this Immigrant Investor Visa, it is strongly advised that you seek out someone who has a working knowledge of immigration law, and/or an attorney.This article is free for republishing
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Tags: management team, risk, failure, many different reasons, business venture, time frame, full time, investment capital, time jobs, business investment, obtaining a green card, citizen