Know the Basic Facts about the US EB-5 Green Card
Living in the United States is the desire of many people in countries across the world. The EB-5 Regional Center can assist you in acquiring your visa easily. With the EB-5 visa, you are given the status of permanent resident in the US, including your spouse and your unmarried children who are under age 21. Once you have an EB-5 visa, you can live, work, operate a business, or retire within the United States.
As an EB-5 Visa Green Card holder, you can access all the benefits available to US citizens. Every Green Card holder in your family can have access to jobs and education. After 5 years of having a Green Card, members of the family can apply for citizenship.
EB-5 Regional Center Program
The United States Citizen and Immigration Service (USCIS) is the body that grants approval to the Regional Center to offer EB-5 projects. There are Regional Centers which may mislead you in believing that they have been given the government’s approval for EB-5 visas. It is important to note that existing EB-5 law does not provide a guarantee for any EB-5 projects. Consequently, each EB-5 center should be assessed on its own values.
Since every regional center is competing against its counterparts in an effort to get you to believe that it offers the best business plan, you need to be aware of every aspect of the projects handled by regional centers. You need to know which EB-5 has conducted researches into the increasing number of regional centers and have visited those new centers with a proven track record, as against those who have none.
An effective EB-5 center will provide you with the correct information and educate you on how to make the right choice for yourself as well as your dependent family members.
Finding the best EB-5 Regional Center
A good EB-5 Regional Center will inform you of the necessary requirements. Once you decide that the EB-5 visa is your choice, the next important step is to select a Regional Center which:
- Offers protection for your capital as stipulated by law
- Provides the number of required jobs
- Has a well-known track record of successful visa applications
- Will not hold up your capital longer than necessary
Types of Regional Centers
There are three basic types of Regional centers: Loan Based, Equity (property) and Equity (Active Trading Business)
The Cost of an EB-5 Visa
Application for an EB-5 will incur the following fees:
- Capital of not less than $500,000 and regional centers’ administrative fees ranging from $35,000 to $65,000.
- Government and legal fees, and these vary in the range of $15,000 to 35,000, depending on the work involved.
Once your application has been submitted by your attorney, processing usually takes between 6 – 9 months. When planning for school, the process takes from 9 to 12 months from visa application to the issuing of the green card. A green card is conditional for up to 2 years. When you emigrate, apply to have “conditions” removed from your Green Card after being in the US for a year and 9 months. Your US Citizenship Status is obtained after 5 years.
Author Bio- Linda Evans is a freelance writer who regularly writes for blogs related to immigration and investing in other countries, and she offers various tips on getting an EB-5 Green Cardto the US.