In 2009, 1,130,818 persons were able to obtain legal permanent United States resident status. Of these visas, two out of every three were issued to a person because they were related to a United States citizen. The remaining visas issued were often granted to persons who were in a unique position to benefit the United States in some manner, including their having the ability to enhance the nation’s economic well-being.

The United States Congress has legislated that it is in the country’s best interest to encourage immigration if it creates jobs and stimulates the economy. EB-5, the fifth employment-based visa preference category, created by Congress in 1990 and enhanced in years since, is available to immigrants seeking to enter the United States by investing in a new commercial enterprise that will benefit the US economy by creating at least 10 full-time jobs. Under EB-5, permanent resident status is achievable in two years, as opposed to the longer and more difficult waiting periods associated with other manners of visa procurement.

There are two ways to invest within the EB-5 category:

• Creation of a new job-generating commercial enterprise.
• Direct investment in a troubled business. For the immigrant’s convenience (and with the intent of facilitating larger scale job-creation enterprises), Congress approved an alternative job creation program: investment by the immigrant in a Regional Center, a 3rd party-managed investment vehicle whose purpose is the promotion of economic growth, improved regional productivity, job creation, and increased domestic capital investment. A Regional Center takes the responsibility of creating the requisite jobs off the shoulders of the individual investor.

EB-5 Regional Center Investment Process

Once the immigrant investor decides he will utilize Silicon Valley Regional Center (“SVRC”), he must follow the following procedure to gain U.S. citizenship via the EB-5 program.

1. Investor Selects SVRC

   SVRC believes it is a unique option for the immigrant investor. Not only does SVRC work in one of the most dynamic and stable economies and real estate markets in the world, the company’s track record in the region for executing projects with high job creation rates and reputation for integrity are without peer.
   
   

2. Investor Reviews/Accepts SVRC’s Business Plan and Proposal and deposits funds to reserve spot into escrow account opened by SVRC

   As a designated Regional Center, SVRC shall submit to the USCIS a project proposal showing:
   
   
   • How in verifiable detail (using economic models in some instances) jobs will be created directly or indirectly through the proposed capital investment made in accordance with the SVRC’s business plan, and
   • The amount and source of capital committed to the project and the promotional efforts made and planned for the business project.
   
   

3. Investor signs Subscription Forms and deposits the full required investment amount ($500,000 or $1,000,000) into Escrow Account

   
   

4. Investor or Investor’s attorney prepares and submits I-526 Immigration Petition (USCIS review approx 3-5 months)

   will submit the application on behalf of the investor demonstrating that:
   
   
   • Investor has invested in SVRC (a designated Regional Center) according to the approved SVRC business plan
   • Investor has invested or are in the process of investing the amount required ($1,000,000 or $500,000 depending on whether the investment occurred in a targeted employment area)
   • The investment funds were obtained through lawful means, and
   • The investment in the Regional Center will create at least 10 direct or indirect full-time
   
   SVRC only selects projects and business plans that are most likely to accomplish the goals of the investor. The EB-5 statutory language is prospective (an investor or its regional center must show that his/her investment will create the requisite 10 full-time jobs), thus the jobs do not need to exist at the time of I-526 filing. SVRC will file a copy of a comprehensive business plan showing that, due to the nature and projected size of the new commercial enterprise, the need for not fewer than 10 qualifying employees result, including approximate dates, within the next two years, and when such employees will be hired. The business plan shall contain, at a minimum, a description of the business, its products and/or services, and its objectives and shall contain a market analysis, including the names of competing businesses and their relative strengths and weaknesses, a comparison of the competition's products and pricing structures, and a description of the target market/prospective customers of the new commercial enterprise. The plan shall contain sales, cost, and income projections and detail the bases therefore. If applicable, it should describe the manufacturing or production process, the materials required, and the supply sources. The plan shall detail any contracts executed for the supply of materials and/or the distribution of products and shall discuss the marketing strategy of the business, including pricing, advertising, and servicing. The plan shall also list the required permits and licenses obtained. The plan shall set forth the business's organizational structure and its personnel's experience, explain the business's staffing requirements, and contain a timetable for hiring, as well as job descriptions for all positions. Most importantly, the business plan shall be credible.
   
   
   1. If denied:
      Escrow Agent Returns Investment to Investor (end) – If the application is denied for whatever reason, the escrow agent is responsible for returning the investment back to the applicant.
      
      
   2. If approved:
      Center’s Escrow Agent unconditionally releases Subscription balance to SVRC – Upon approval, the escrow company will transfer the funds to the regional center
      
      
      1. If Investor is lawfully in U.S., Investor or Investor’s attorney submits an I-485 application in the U.S. to adjust to Conditional permanent residence (USCIS review approx. 6 months) –This is the final stage of the green card process. The next step is to become a lawful and permanent resident of the U.S.
      2. If Investor is overseas, Investor or Investor’s attorney submits immigrant visa application to U.S. Consulate (Consular Review approx. 6 months) – Investor will be issued an immigrant visa number through the state department soon thereafter.
   
   

5. Investor gains U.S. Permanent Residency (conditional for two years)

   Upon the approval of the I-526 Immigration Petition, Investor is granted a two-year green card, which can be converted to a permanent residency card per the following steps.
   
   

6. 90 days prior to the completion of the two years, Investor or Investor’s attorney submits I-829 petition to remove conditional nature of permanent residence (USCIS review approx. 12 months)

   Completion of this application process during the 90 days that precede the second anniversary of the granting of the conditional residency is required. The application must demonstrate that the capital investment was made in accordance with SVRC’s business plan in order to be credited with the creation of indirect jobs.
   
   

7. Conditional status of Permanent Residency is removed

   Throughout this process Investor is free to travel within and outside the United States, though a residence inside the U.S. must be maintained and stays outside the U.S. should never exceed one year.
   
   

8. Apply for U.S Citizenship. (Optional)

   This option is open to the Investor for 5 years from the time of approval of Investor’s permanent residency, which is also maintained as long as investor’s EB-5 Visa status is valid.
   

Source: Darren Silver & Associates