A. What’s EB-5
EB-5 is a visa category allocated to foreign investors with the Congressional intention to stimulate the U.S. economy. EB-5 programs represent a unique opportunity for foreign investors to receive U.S. permanent residency with minimum requirements and restrictions in comparison to other types of visas. This usually requires an investment of $1,000,000.00 or as little as $500,000.00 in certain circumstances. Usually, foreign investors will get a “Conditional Green Card” in one to one and a half years after applying.
A Conditional Green Card is a temporary Green Card valid for two years. An EB-5 investor first receives a conditional card before he/she is able to receive a green card without conditions. When the investor successfully applies for a removal of conditions and proves that his/her investment is active and has continued to meet on the necessary requirements, the investor and his immediate family members are issued a “Permanent Green Card” by the USCIS, which is valid for 10 years and can be renewed once expired.
C. EB-5 Approved Cases
Sample Approval Notices for EB-5 in 2015
Sample Approval Notices for EB-5 in 2014
D. Eligibility for EB-5 Applicants Under the CSPA (Child Status Protection Act)
The CSPA provides for “locking-in” the age as follows:
- The EB-5 applicant must file the I-526 petition before the child reaches 21 years of age. Once filed, the age is “locked-in” by the USCIS.
- When the I-526 petition is approved, if there is no backlog under the EB-5 immigrant visa quota, then the days that the I-526 petition was pending with USCIS is subtracted from the son’s or daughter’s age at that point in time, effectively taking the age back to the age at the time of filing. If there is a backlog under the EB-5 immigrant visa quota, then the subtraction of time and lock in of the age cannot occur until the EB-5 investor’s case reaches the front of the backlog waiting line. Alternatively, if the I-526 petition is denied, then the son’s or daughter’s age will not lock in based on that petition.
- Once the child’s age is “locked-in”, then one final step must be taken in order to lock in the age permanently. The final step is the filing of the application for an immigrant visa through the consular process or the filing of an application for adjustment of status in the U.S., and this step must be taken within one year of when the I-526 petition was approved or of when the EB-5 applicant parent’s case reaches the front of the waiting list under the quota backlog.