Investment green card: lawyer revealed all the secrets of obtaining an EB-5 visa

Many people believe that obtaining an investment green card is only available to very wealthy owners of large businesses. But immigration lawyer Ekaterina Muratova dispelled this myth. A family of employees who have never thought about owning their own business can easily obtain an EB-5 visa, which implies a residence permit. Moreover, you can do this without leaving the country if you are in the US on another visa, TPS or other legal status.

Photo: IStock

So, EB-5 is an immigrant visa for investors. Using it, not only the applicant, but also all members of his family can receive a green card. To take part in the program, you need to invest at least $800 thousand in the US economy.

Your own business or regional center

In addition to investing a large amount, the investor must create at least 10 jobs in the country. Here you have two options - either organize your own business and hire people for it, or invest in a so-called regional center.

“These are large national corporations that are accredited by the US government to participate in the EB-5 program, - says immigration lawyer Ekaterina Muratova. - If you decide to invest in one of the regional center's projects, then they themselves take on the responsibility of creating jobs. This, of course, is much more convenient, which is why today about 90% of all petitions for an investment green card are submitted through regional centers. For a foreign investor, this is effectively a passive investment. He selects a project and invests the required amount. Next, the center assumes the responsibility to fulfill the conditions of the program.”

Ekaterina says: she helps her clients choose a regional center with which cooperation is most reliable. After all, there are thousands of such projects all over the United States, and a person who is far from all this may get confused.

Visa in just 4 months

There were some changes to the EB-5 visa rules this summer. Now the speed of consideration of your petition depends on the industry in which you are going to invest money.

It is logical that the US government is interested in developing regions where there are problems with jobs. Therefore, now all investors who are ready to invest in projects outside big cities are given priority. It considers petitions much faster. Investments in construction and infrastructure development are also a priority. If you decide to invest in these areas, you can get a decision on your petition quite quickly - within 4-5 months. For comparison, the usual waiting period is two years.

Where did the money come from, Zin?

The most important thing when applying for an EB-5 visa is to prove that you got the $800 legally.

“This is the first question we ask a person who comes to us for a consultation - says Ekaterina. — We ask about the origin of the funds. In addition to the availability of money, it is necessary to prove the legality of its origin. This could be salary for many years if the person worked in a high position. Either profit from business, sale of property, inheritance, winning the lottery. They often ask: “What if my relatives gave me a gift?” In this case, it is necessary to prove that the relatives got this money legally.”

The interesting thing is that the 800 thousand dollars needed for investment can even be borrowed. But in this case, the loan must be secured by the investor’s property. That is, for example, you have a house that you do not want to sell. You can mortgage it and take out a loan from a bank - and invest this money in the project.

“The logic is that it’s still the investor’s money, since either he will repay the debt or his house will be taken away from him. But this is an interesting mechanism for people who have property, they don’t want to part with it, but can use it to get funds that they can invest,” Ekaterina explained.

On the subject: Vouching for a refugee: what are the responsibilities and risks of those who are ready to vouch for new immigrants

So, you have proven the legality of the funds. Now you need to legally transfer this money to the USA. If a person simply has all the necessary funds in the bank of his country - and he transfers them to an American bank - everything is transparent. But, for example, if the applicant earned money in his home country and kept the money offshore, then he will have to prove the legality of the entire transfer chain.

“Russian citizens now also have additional difficulties. We know that not everyone can transfer money directly to the US due to the sanctions that Russian banks have been subject to. But they have the opportunity to open accounts somewhere in Kyrgyzstan, Armenia, Georgia, and then show bank statements about the transfer of funds to these banks and then to the USA. Also, the immigration service now accepts transactions through cryptocurrency as confirmation of the transfer of funds. This is a recent innovation in the migration service. And in this way, Russians can also, despite the difficulties, obtain the coveted visa. Naturally, persons subject to sanctions cannot take part in the program. But the restrictions do not apply to citizens of the entire country,” — shares experience Ekaterina Muratova.

Immigration lawyer Ekaterina Muratova. Photos from the personal archive

Green card for those already in the USA

Recently, those who already live in the United States are increasingly interested in investment visas. Previously, to obtain EB-5, you had to leave the country and wait for your petition to be approved outside the country or maintain your legal status in some other way. Now those who are in the country legally can file an application to adjust status within the United States along with the main petition. This gives the person the right to live and work in America while the petition is pending.

“So we have a lot of new types of investors now applying for this visa. Previously, these were wealthy people who either wanted to move to the United States after some time or send their children abroad. That is, the parents invested on behalf of the children so that they would receive a residence permit in the future. Now professionals have been added to these two categories. For example, a person worked here on a work visa and held a high position. And then there was a layoff, and he lost his job. Many such professionals have converted their visas to EB-5. They have many advantages: investors are independent from the employer, do not have to leave, do not have to look for work for 60 days to extend the temporary work visa, - says Ekaterina. — There is also a category of people who came on other visas or programs. For example, now Ukrainians come under United for Ukraine, or Russians ask for asylum in the United States due to the political situation in their country. For obvious reasons, these people cannot remain in their countries and wait years outside the United States for their petition to be processed. But currently they can file for adjustment of status in the United States at the same time as the EB-5 petition. The money they invest can also be earned in the United States.”

Where will the money go?

Another advantage of the investor program is that the entire amount does not have to be spent at once. That is, to file a petition, you must show the availability of the required amount, but if you are investing in your business and not in a regional center, it is enough to provide a business plan that will detail how and when you are going to make partial investments.

“Of course, this must be backed by something more significant than just an investor’s promise. These could be contracts, it could be the purchase of some equipment that is objectively necessary for doing business in the future. That is, not just “I have now invested 50 thousand for the petition, and believe me, I will continue to invest another 750.” It must be an objective business plan, supported by the real needs of the company.”“says Ekaterina.

After filing a petition, it is considered for some time and, if approved, a two-year green card is issued. A probationary period of two years is given to complete the creation of 10 jobs in the company. After this, the investor files another petition to remove the restriction from the green card. This second petition must be supported by evidence that the investment has been fully implemented and jobs created. After receiving a second green card, a person can theoretically take his money back.

“That is the significant appeal of this program. This is an investment, not a purchase of citizenship. Yes, money must be exposed to all business risks and cannot be insured. This cannot be a deposit in a bank. But this does not mean that the investment must be risky. Especially if this is done through a regional center. A person can turn to a financial advisor who can help him choose a fairly conservative investment. This works the same way as it does all over the world: the greater the return on an investment that is promised, the riskier the investment itself will be. If a person’s goal is not to earn money, but the goal is to obtain immigration documents and return his money in the future, then yes, he will not receive large incomes, but the investment will be quite conservative, not risky at all,” - Ekaterina shares.

You may be interested in: top New York news, stories of our immigrants and helpful tips about life in the Big Apple - read it all on ForumDaily New York

What requirements must an investor meet?

Lawyers love the investment program because there are virtually no requirements for applicants. Having legally obtained money and no immigration or criminal violations is probably enough. There are no requirements for educational level, profession, place of residence or language proficiency. Under the program, along with the investor, the entire family receives green cards - spouse and children under 21 years of age.

But, according to Ekaterina, it still sometimes happens that an investment green card is denied.

“Many people ask: what to do if a person, for example, has a criminal record? Well, firstly, not all criminal records put an end to immigration to the United States. For heavy items - yes, but for small ones - it’s quite possible to fight. Although it is worth remembering here that something that is not considered a serious offense in the post-Soviet space, for example, giving or receiving a bribe, will be taken more than seriously in the United States. That is, you need to be careful with crimes. - says the lawyer. — Immigration violations are also very important. If a person lived for more than six months in the United States without status, this is critical. That is, he will have an entry ban for three years. And if he has been in the United States without status for more than a year, he will be prohibited from receiving a green card or visa for 10 years.”

However, in most cases, lawyers advise paying attention to the EB-5 visa. They say: if you imagine that for this amount you receive permanent resident status not only for yourself, but also for all family members, $800 thousand will not seem like that much money.

Read also on ForumDaily:

Difficulties and opportunities: how Russians can get to the US, given the new restrictions

Vouching for a refugee: what are the responsibilities and risks of those who are ready to vouch for new immigrants

Conflicts in the family: lawyers talked about how to protect yourself and your immigration status

Do you want more important and interesting news about life in the USA and immigration to America? — support us donate! Also subscribe to our page Facebook. Select the “Priority in display” option and read us first. Also, don't forget to subscribe to our РєР ° РЅР ° Р »РІ Telegram  and Instagram- there is a lot of interesting things there. And join thousands of readers ForumDaily New York — there you will find a lot of interesting and positive information about life in the metropolis.