EB-5 Application Process
1. File Form I-526, the Petition by Alien Entrepreneur. One of the regional centers in Washington State can assist you with this process and ensure that all the proper documentation is in order and filed.
2. Once the form is approved by the USCIS, you will need to file one of the following forms:
As an EB-5 investor, you and your derivative family members (spouse and children under 21) are granted conditional permanent status residence in the U.S. for a two-year period. This period begins with the approval of your I-485 application or entry into the United States with an EB-5 immigrant visa. As lawful permanent residents you, your spouse and children will be authorized to work and study in the U.S.
3. At least 90 days before the end of your two-year anniversary you must file Form I-829, the Petition by Entrepreneur to Remove Conditions. If this is approved by the USCIS, all conditions will be removed from your EB-5 status and you and your family will be allowed to live and work in the United States permanently.
Forms are available in the Forms section of the USCIS website or by calling (800) 870-3676. You can also work with your regional EB-5 center to complete and submit the forms.
Requirements and Documentation for EB-5 program
To make your application go as smoothly as possible, you will need to make sure you meet the following requirements and document it properly.
If you are working with a regional center you may be required to provide additional information, including completing a consulting and subscription agreement, a private placement memorandum, escrow agreement, a waiver of conflict, bank statements and confirmation of funds transfer from your bank.
EB-5 Investor Targeted Employment Areas
Reduced requirements for obtaining an EB-5 immigrant-investor visa are available to those investors who create the required number of full-time jobs in an area of the state where there is high unemployment. The Targeted Employment Area (TEA) designations are managed by the Department of Employment Security, which reviews applications on a case-by-case basis to ensure that the area meets the requirements of a high unemployment area (HUA), defined as an area that is part of a Metropolitan Statistical Area (MSA) that has experienced at least 150 percent unemployment when compared with the national average rate.
Want to know more about the TEA process for EB-5? Visit this link for more information.
While your actual experience may differ, following is the estimated time required for completing the EB-5 process.
1. Choose a regional center.
2. Await approval from the USCIS (takes 16 months or less).
3. Receive Conditional Permanent Resident Status Approval for your 2-year Green Card.
4. File Petition to Remove Conditions on Residence (Form I-829) 90 days before the end of your two-year Green Card period.
5. Receive your Permanent Green (6 to 12 months later).
6. File an Application for Naturalization (5 years after you receive your Conditional Green Card).
7. Naturalization approved and U.S. Citizenship granted (6 to 12 months later).
EB-5 is a federal program. As such, Washington State plays no role in vetting or administering projects that are managed by privately owned and operated regional centers in the state, nor do we control or monitor statements made by regional center operators when discussing their investments. As with any investment, performing due diligence is an essential part of the investment process and is the responsibility of the individual investors and their legal counsel.
Although bonds issued by Washington are backed by the full faith and credit of the state, Washington State does not guarantee, financially back or otherwise single out any investment made through the EB-5 program.
The Washington State Department of Commerce does not provide any assistance with EB-5 applications, processes or procedures. To facilitate your application, please contact an EB-5 program of your choice directly.