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An explanation of the EB5 Immigration Program

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  1. 1. EB5 Immigration Green Card Program Presented by: The International Department of: Century 21 S.G.R., Inc. Chicago, IL, U.S.A.
  2. 2. Overview The EB-5 Visa for Immigrant Investors is a United States visa created by the Immigration Act of 1990 and oversight of this program is done under the auspices of the United States Citizenship and Immigration Services (UCIS) This visa provides a method of obtaining a green card for foreign nationals who invest money in the United States. To obtain the visa, individuals must invest at least $1,000,000 USD, creating at least 10 jobs. By investing in certain regional centers with high unemployment rates, the required investment amount is only $500,000.   Congress created the EB-5 immigrant investor visa category in the hopes of attracting foreign capital to the US and creating jobs for American workers in the process. There are 10,000 visas available in the category each year.   The EB5 visa is unusual in that it provides you with a green card at the outset. When you emigrate, you do so knowing that you and your immediate family have Permanent Residency. You may apply for citizenship after five years
  3. 3. Benefits of the EB5 Program <ul><li>A direct route to Permanent residency in the United States for you, your spouse and any children under the age of 21.
  4. 4. Freedom to live, work and retire anywhere in the United States
  5. 5. U.S. citizenship route after 5 years of being a Green Card holder
  6. 6. Children may attend college/university at U.S. resident costs.
  7. 7. You do not need a family member or employer to sponsor you.
  8. 8. You can sponsor Green Cards for your relatives. </li></ul>
  9. 9. What is a Regional Center Program? For an investment, the threshold is a $500,000 capital contribution to a designated Regional Center, which allocates portions of the capital in the form of business loans to small business within the targeted area. A Regional Center is defined as any economic unit, public or private, engaged in the promotion of economic growth, improved regional productivity, job creation and increased domestic capital investment. Presently up to 5000 immigrant visas are set aside each year.
  10. 10. Regional Center Designation Requirements The Regional must show how their proposed program will: <ul><li>Focus on a geographic region;
  11. 11. Promote economic growth through increased export sales, if applicable;
  12. 12. Promote improved regional productivity;
  13. 13. Create a minimum of 10 direct or indirect jobs per investor;
  14. 14. Increase domestic capital investment;
  15. 15. Be promoted and publicized to prospective investors;
  16. 16. Have a positive impact on the regional or national economy through increased household earnings;
  17. 17. Generate a greater demand for business services, utilities maintenance and repair, and construction jobs both in and around the center.
  18. 18. The capital investment requirement for an EB-5 investor in a Targeted Employment Area (TEA) or a Rural Area (RA) is $500,000. </li></ul>
  19. 19. Frequently Asked Questions 1: Who should invest? Answer: EB-5 investors include people from all walks of life: professionals, business people, persons wanting to facilitate a child's education, and retirees. Because the EB-5 visa permits employment in the US, many EB-5 investors become involved in charity or part time work. Simply put, the EB-5 visa gives you the flexibility to do what you want in the USA. If you don't want to actively manage your business, you should consider a regional center EB-5 pilot program, since the EB-5 regular program requires active involvement in the business on the part of the investor .   2: Is EB-5 a truly passive investment? Answer: The EB-5 regulations require involvement in management or policy making. The regulations deem a limited partner in a limited partnership that conforms to the Uniform Limited Partnership Act, sufficiently engaged in the EB-5 enterprise. Limited partners have no practical control of the enterprise.   3: How long does it take for an EB-5 application to be approved and a Green Card issued? Answer: It takes about two months to make the investment, gather the necessary documents, and file the petition. Most petitions are approved in two to four months; some take longer. One can then apply for adjustment of status in the U.S. or an immigrant visa overseas. Adjustment of status for EB-5 cases can be processed in about six months, but can sometimes take longer. The immigrant visa at the American consulate requires about the same amount of time. After being granted, it usually only takes a few weeks or months for the conditional Green Card to arrive.   4: Can money gifted by a parent or other relative be used for an EB-5 investment? Answer: Yes, provided that any applicable gift taxes are paid. It must be demonstrated that the gift is an actual arms length transaction and is a not a mere ruse or that the gifted funds will be given back after permanent resident status is granted.    
  20. 20. 5: What is a &quot;conditional&quot; Green Card? Answer: A conditional Green Card is a temporary Green Card valid for two years. One year and nine months after it is issued, a three-month window opens up during which an individual must file another application with the UCIS to verify that all of the funds have been invested and employment created. When the conditional resident status has been lifted, full resident status is granted and a permanent Green Card is issued.   6: What documents must I prepare to process my investor Green Card petition? Answer: You must prepare complete biographical information and must prove the source of the investment funds. To prove the source of investment funds, UCIS requires five years of personal and business, if any, tax returns, proof of ownership in any businesses and business licenses. You must present a track record of an honest course of dealing. If your capital came from a specific transaction, such as sale of a house, inheritance or gift, you must prove the transaction occurred, by providing an official document, such as a closing statement or contract or other official documents. This is not an exhaustive list. Other documents may be required and vary on a case-by-case basis.   7: What issues have been problematic in EB-5 cases? Answer: The most common problem area has been insufficient documentation of the source of funds. Many people try to disclose the least possible information only to have the file returned with a request for further information. It is better to provide too much information rather than too little information. In this era of terror alerts, and suspicions about money laundering, UCIS case examiners require the source of funds to be well documented.  8: Are EB-5 visas available to people from any country in the world? Answer: Legally yes. However, people from countries that do not have reliable tax and other financial documentation will find it much more difficult to prove the source of funds and we may not recommend these individuals pursue EB-5 visas.  9: What is a targeted employment area? The required investment is $500,000 for a business established in a &quot;targeted employment area.&quot; Targeted employment areas include: Rural areas, defined as any area other than one within a metropolitan statistical area or within the boundary of a city or town with a population of 20,000 or more; and areas having an unemployment rate that is at least 150% of the national average.   Each state is supposed to notify the USCIS as to which state agency will apply these guidelines and determines targeted employment areas for that state.
  21. 21. Century 21 S.G.R., Inc. Century 21 S.G.R., Inc has interviewed and met with several different EB5 Regional centers across the U.S.A. to help our clients in their immigration to the U.S.A. For more information on current EB5 Regional Center projects contact: Vanessa Falcon, C.I.P.S. International Director [email_address] 01-708-955-1171