Filing the I-526 Petition is one of the most important steps to the process of acquiring an EB-5 visa.
As the deadline for the EB-5 Regional Center is fast approaching, many potential applicants may be wondering how they can prepare and file prior to the deadline. Here are 5 tips for getting started:
1. Find an experienced and qualified EB-5 immigration attorney to assist you with this process. EB-5 is a complex program. Hire a knowledgeable attorney to avoid petition delays or worse, denials!2. Have you gathered all the required documentation to prove that your capital comes from lawful sources? Are the documents translated into English? Even if you acquire a loan for your EB-5 investment, USCIS may want to see that the lender acquired their funds from lawful sources. If you received the capital as a gift, you will still need to show that the funds came from lawful sources. Consult with your EB-5 immigration attorney to find out what specific documents you need.3. Conduct thorough due diligence into the EB-5 project you’re interested in investing capital. You’re placing at minimum $500,000 of your hard-earning capital at-risk in a new commercial enterprise, research everything you can about the project to minimize risk. Learn about the regional center, the management team, and the developer. Is the project in a viable location and does it take advantage of targeted employment area status?4. Maybe, most importantly, will the project create the required number of jobs? Does the project have a buffer to ensure that job creation will meet EB-5 requirements? Does the project developer take advantage indirect and induced job creation as well as direct job creation? Will job creation requirements be fulfilled within you’re EB-5 timeline? You will need to provide evidence that the project will create the requisite 10 jobs per investor by submitting the project’s business plan.5. Prepare the money and invest it into an escrow account for the project you have chosen. After doing so and acquiring the paperwork to show that the investment into the project has been made, your EB-5 immigration attorney can then file you’re I-526 Immigrant Petition by Alien Entrepreneur. USCIS will then process the petition and inform applicants as to whether they have been approved, denied, or required to submit further evidence.For more information about filing the I-526 Petition, conducting due diligence on a project, or finding an experienced EB-5 attorney, send us a message.[formidable id="11" title="1"]