The I-526 Petition for the EB5 investor program for Indians
The program allows for becoming a permanent resident upon approval of their I-526 application by the USCIS. Initially, it is a two year permanent residency which allows the applicant to live in the U.S. to oversee their EB5 investment.
Upon completion of the two year period for the visa or investor visa program, the applicant then files form I-829. Upon acceptance of the I-829, the applicant, spouse, and unmarried children under age 21 can live and work permanently in the U.S.
How The I-526 Impacts The EB5 Visa Or Investor Visa Program
The filing may take place whether the applicant has already invested the required amount of capital or are in the process of investing. Either way, the minimum investment amount must be documented while the project must meet the parameters.
This is the case whether investing in an opportunity administered by the Regional Center or in a new enterprise. A minimum of 10 new full time positions must be created and scheduled over the first two and one-half years. The minimum investment is $1,000,000, although a $500,000 investment is allowed when assigned to a targeted employment area (TEA).
An I-526 petition must provide proof that the investment has been made.
It must be traceable and show that the funding is from legitimate lawful sources.
Visa or investor visa program applicants are typically notified whether or not their petition is approved after a five to ten month wait. This is why meeting the requirements is so important.
REQUIREMENTS FOR THE I-526
There is a $1,500 filing fee for submitting to the USCIS.
For the subject business, everything pertaining to the arrangements must be included. These could be articles of incorporation, joint venture or limited partnership agreements, and merger or consolidation contracts. Where appropriate, state or city business licenses or certifications should also be included.
Proof of Investment is necessary for the application to be considered.
Consequently, the applicant must demonstrate that the appropriate investment has been (or will be) made in the specific project. Bank statements, promissory notes, securities statements, and possibly mortgage or related loan documents are prime examples.
Earnings from an employer, past or present, and documented sales of stocks or bonds should be used to prove that lawful funds are being utilized.
In addition, the applicant must show exactly how he/she will be involved in the day to day operation of the business or project. Corporate documents or a description of duties are generally acceptable.
However, the USCIS retains the right to request more evidence and documentation as needed.
Upon completion if the I-526 petition, EB5 visa and investor visa program applicants can apply for U.S. resident status.
You can find more information regarding the I-526 Petition and EB5 Visa Program by following these links: