The following is the basic process for EB-5 investors in EB-5 New York State, LLC projects.
Step 1: Non-Disclosure and Suitability
- A potential EB-5 Investor must first sign a Non-Disclosure Agreement and complete an Initial Information Form which will help determine if the potential Investor meets the basic requirements for an EB-5 visa.
- Download a copy of the Non Disclosure Agreement and Initial Information Form. Then return the completed forms as described in the link.
Step 2: Investor Examination of the EB-5 Investment
- In order to earn an EB-5 visa and a US green card, an immigrant investor must invest $800,000 or more into a project (a “New Commercial Enterprise”) which meets the requirements of the EB-5 program. The investment is made based on a Private Placement Memorandum, which includes detailed information about the investment.
- The Company will provide each potential immigrant investor with a copy of the Private Placement Memorandum and will, to the best of its ability, answer any questions asked by the potential investor. Each potential investor is encouraged to thoroughly read all documentation provided and to get advice from his or her immigration attorney, tax counsel and other advisers, and to ask any questions the investor, his or her attorneys and advisers may have.
Step 3: Subscribe to Invest and Pay Processing Fee
- Once he or she has decided to proceed with an investment into the New Commercial Enterprise for the EB-5 process, an investor will:
- Subscription Agreement. Complete the Subscription Agreement and pay the Processing Fee
- The Company will then work with the Investor, his or her immigration attorney and advisers and others, to provide the project-specific information the investor requires to complete his or her I-526 petition.
Step 4: Accredited Investor
- Each investor must be an accredited investor (as described in the Company’s Offering Documents). The Investor, generally as a part of the preparation of the I-526 petition, will provide evidence that he or she is an accredited investor. EB-5 New York State, LLC works with independent 3rd parties to verify the accredited investor status of each investor.
Step 5: Broker Deal or Registered Investment Advisor Review
Step 6: Transfer $800,000 to Escrow
- Before a potential immigrant investor applies for an EB-5 visa (files an I-526 petition), he or she must transfer $800,000 to an escrow account. These funds are invested as is described in the Private Placement Memorandum.
Step 7: File I-526 petition
- The investor’s attorney files the investor’s I-526E petition with USCIS. The I-526E petition is the initial petition which must be approved by the U.S. government in the EB-5 process. If an investor does not have an immigration attorney, EB-5 New York State can provide a list of attorneys to consider.
Step 8: USCIS Adjudication of the immigrant investor’s I-526E petition
- USCIS adjudicates each immigrant investor’s I-526E petition to determine if the investor meets the requirements of the EB-5 program. Please see the following for information on the USCIS current average time to adjudicate an I-526E petition.
- USCIS Processing Times
Step 9: Visa issuance
- After the investor’s I-526E petition is approved, USCIS sends the petition to the Department of State, National Visas Center (NVC), for a visa to be issued pursuant to their requirements. An investor can apply for a visa in his or her country, or for a change of status in the US (please speak with your immigration attorney for further information).
Step 10: Conditional Permanent Residence
- Upon issuance by the NVC, the immigrant investor, his or her spouse and minor children are granted US Conditional Permanent Residence (a “conditional green card”). With conditional residence status, the investor, his or her spouse and children under 21, share all the same rights and benefits of any other US green card holder.
Step 11: File I-829 Petition to Remove Conditions to Permanent Residence (removal of conditions on the conditional green card)
- 21 to 24 months following the issuance of the Conditional Permanent Residence, the immigrant investor must file an I-829 petition to remove the conditions on his or her Conditional Permanent Residence (to remove the conditions on the green card). In general, in the I-829 petition, the investor must prove that: (1) the investor sustained the investment (made and maintained the investment) and (2) the jobs were created. When the I-829 petition is granted, the conditions the Permanent Residence (on the green card) are removed, and the investor, his or her spouse and children’s Permanent Residence status is without conditions.
- Once the I-829 petition is approved, the Investor has no further obligations regarding the EB-5 process — the investor has completed the EB-5 process. There is no further “look back” or requirement to prove the jobs or investment again in the future.
- Note: EB-5 New York is one of a VERY FEW Regional Center’s with Immigrant Investors who have achieved I-829 petition approval
Step 12: Return of EB-5 Investment
- The Company will work to return the Investor’s investment as described in the Private Placement Memorandum. Although US law prohibits making any guarantee of a return of the $800,000 investment (or a return on the investment), the Private Placement Memorandum describes how the Company intends to return the investment.
- Note: EB-5 New York is one of a VERY FEW Regional Centers with Immigrant Investors who have received the full return of their investment