What is an EB-5 visa?
In short, the EB-5 visa is an investor visa whereby in exchange for an investment of five hundred thousand or one million dollars, depending on the geographic are where the investment is made, the investor and his or her immediate family is eligible for a conditional green card if several statutory requirements are met. The statutory requirements for the EB-5 visa can be found under section 203(b) (5) of the Immigration and Nationality Act (INA), 8 U.S.C. § 1153(b) (5). One year and nine months after receiving conditional residence status, the investor files Form I-829, “Petition by Entrepreneur to Remove Conditions.” If the petition demonstrates that the investor has met the requirements of Section 203(b) (5), conditions are removed and the investor becomes a permanent resident.
Please feel free to contact New York Immigration Attorney Robert J. Maher, Esq. with any questions: http://www.robertmaherlaw.com
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