If you’re curious about the legal requirements of an EB-5 visa, speaking with an immigration lawyer is a great place to start. Here at The Santos Law Offices, PA, our founder Dalyla Santos devotes her time to helping the South Florida community at large with their legal needs, including immigration, bankruptcy, and insurance claims. We have a proven track record as successful immigration attorneys, and we take great pride in the work that we do to help our friends and neighbors in Florida.
If you’re interested in applying for an EB-5 visa, our legal team can help you with the legal requirements, which are numerous and quite complex. If you don’t follow every step of the process correctly, the immigration courts could deny your claim.
Immigration Lawyer Near Me: The Santos Law Offices, PA
After eight years as a practicing attorney, Dalyla Santos finally took the plunge in 2017 and opened her own law firm in Miami, Florida. Now, The Santos Law Offices, PA, serves the community in every way possible, taking on both clients and pro bono cases.
Since we frequently help people with immigration cases, the entire legal team here at The Santos Law Offices, PA is fluent in Spanish. For your convenience, schedule a phone or Zoom consultation to avoid the hassle of traffic and parking. Call us today at (305) 417-4111 to schedule your free case evaluation.
What Is an EB-5 Visa?
Simply put, the EB-5 visa (also called an investor’s visa) is a way for wealthy foreigners to enter the United States, boosting the economy and creating opportunities for Americans.
Under the EB-5, immigrant investors and their family members (spouse and unmarried children under 21) can become permanent U.S. residents. The process involves investing and taking an active role in a new business that will create at least 10 full-time U.S. jobs.
The investment amount for the EB-5 visa changes frequently and is subject to inflation every five years. Currently, the amount is between $500,000 and $1 million.
How Do You Apply for an EB-5 Visa?
If you have the funds to apply for an EB-5 investor’s visa, it is wise for you to hire an immigration attorney. The EB-5 visa process is not just complex; it’s one of the most difficult (and the most expensive) ways to apply for U.S. residency.
If you make one mistake in the filing process, the courts could deny your application for the EB-5 immigrant visa. That’s why it’s crucial to hire competent immigration lawyers with the experience and skill to help you with your application and all the program requirements.
Step 1: Determine which business or qualifying project you’re going to invest in
To start the EB-5 visa process, you must pick an existing business or create an entirely new business to invest in that fits the program requirements.
The amount of money you’ll need to raise depends on the location of your new company. Businesses going in a TEA (Targeted Employment Area) only require a $500,000 investment. To qualify as a TEA, the location must either be rural or have a low employment rate. Businesses that won’t be in a TEA will require the entire $1 million investment.
Step 2: File an EB-5 petition and make your investment
Next, your immigration lawyer will need to file your EB-5 petition with the USCIS (U.S. Citizenship and Immigration Services). The petition must prove that:
- You obtained your investment funds legally
- You’ve met all the filing and program requirements
- Your investment will create a New Commercial Enterprise and will fund all expenditures related to the creation of the business and 10 full-time American jobs
Step 3: Reside in the U.S. for two years under conditional permanent residency
After filing your application and receiving approval, you’ll need to attain conditional permanent residency, which is for two years. Investors already living in the U.S. will have to file Form I-485 to adjust their immigration status. Foreign investors living abroad must go to a U.S. Embassy or Consulate and file Form DS-260.
During the two-year residency, you’ll have specific physical presence requirements. For example, you won’t be able to leave the U.S. for longer than a year.
Step 4: Become an unconditional permanent resident
The last step in the EB-5 process is becoming an unconditional permanent U.S. resident. Once the two-year residency is up, you’ll need to file an I-829 application. Your conditional status will change to unconditional upon approval, and you’ll be a permanent U.S. resident.
Choose the Immigration Lawyer You Can Trust: Dalyla Santos
If you’re considering applying for an EB-5 visa, there’s no getting around it: You’re going to need the services of a professional immigration lawyer.
Here at The Santos Law Offices, PA, our founding attorney Dalyla Santos has experience handling immigration and visa cases for our friends and neighbors in South Florida, and we can help you too. Hablamos español. Call our Miami office today at (305) 417-4111 to set up your free initial consultation or fill out our contact form here.
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The information in this blog post (“post”) is provided for general informational purposes only and may not reflect the current law in your jurisdiction. No information in this post should be construed as legal advice from the individual author or the law firm, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting based on any information included in or accessible through this post without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from a lawyer licensed in the recipient’s state, country or other appropriate licensing jurisdiction.