Thousands of people across the world come to the USA with dreams of starting a new job and a new life every year. After getting an entry on H1-B work visa and spending prime working years in the USA, thinking about getting permanent residency within the US is a natural step for many. But, getting a permanent residency in the US is not a piece of cake. With average wait times to acquire a US green card ranging from anywhere between 20 months and 20 years, many people on a nonimmigrant or immigrant visa have started to explore other options.
While working with a visa consultation service provider can greatly help you in deciding what your next step should be, it is best to be a bit familiar with other options. Options that mainly revolve around how to reduce the wait time to get permanent residency. One way, you can reduce your wait time to get a green card is to get an EB-5 visa.
EB-5 Visa - A Ticket to US Permanent Residency
EB-5 visa falls in an immigrant investor category and takes about 27 months to process. Every year, 10,000 applications are approved and released given the condition that the participant can make commercial investment in the US with 10 permanent full time jobs for US workers.
The minimum investment amount outside Targeted Employment Areas is US$1.8 million and inside Target Employment Areas is US$900,000 (effective November 21, 2019). According to the final rule, the minimum investment amount is subjected to adjustments for inflation every five years. The applicants who have already submitted US visa applications online for EB-5 program and gained approval on their petition are provided with necessary flexibilities.
How to get an EB-5 Visa? What is the process?
The process of acquiring EB-5 visa basically involves three steps that are explained below:
As the priority date becomes current, applicants (investors) are scheduled for interviews. The priority date can be checked on Visa Bulletins every month. In case an applicant has filed for an adjustment of status (AOS), this will be adjudicated if he/she is in legitimate status within the US at the time of petition. However, if there is an RFE (Request for Evidence), the USCIS will take a few months to approve the AOS application. This duration also includes I-693 - a medical examination.
Once the date for filing is current, the investor can file the required filing fee. Then, the investor should get prepared for submission of DS-260 form and get transferred to the National Visa Center (NVC).
This stage of visa application may take about 38 months. However, in straightforward cases, approval is acquired sooner if everything is in place. To get a status on this, the investor may either request an “outside normal processing time” service or contact the local Immigrant Investor Program Office.
If you also think that you can invest in the US and meet the threshold requirements, EB-5 Investor program is a great route to acquire US green card. To know more about the process, eligibility, and documents, get in touch with a reputed and experienced visa consultation service provider.
Rachael is a Content writer with over 6 years of experience in professional writing.