Immigration Lawyer, Gerardo Menchaca, will be discussing the process to obtain the EB5 Visa.
EB5 – Application Process
Attorney Menchaca, what is the process to apply for an EB5 visa? How does it work?
The EB5 is a three-step process.
First we go to the government and we request a pre-approval that’s application number one.
Okay, so what exactly is this pre-approval?
It’s basically permission to move on to step two, in itself its just a piece of paper that says you been approved, that’s what we’re looking for but here’s how goes:
On application number one, we tell the government three different things, we tell them who you are, the applicant.
Who your family is, your kids, your spouse, and we also tell the government what you’re planning to invest your money in or what you’ve already invested your money in.
And number three we tell the government that your money comes from a lawful source and we have to provide all the documentation showing that your money comes from a lawful source.
Okay and then after this we move on to step two.
Correct, once we get that pre approval we go to step two, which is when we ask the government to give you and your immediate family a green card, legal permanent residence, the actual card, so that you can start living in the United States as legal permanent residents, and that card it will come with a duration of two years.
Okay, so we ask the government for a pre approval, we get a green card for two years, what’s next?
So during those two years your money is to be working, to be invested and the jobs are to be created.
Okay, so you have two years to get that done.
And then right when that card is about to expire, we go back to the government and we say, now we have application number three.
And in application number three we say look, we already got pre approved, we’ve already had the green card for two years and the money’s been working, creating jobs.
And then the government says ok, we say now give us a permanent green card, give the applicant, investor a permanent green card, which means that status is valid for the rest of your life.
And the government says ok, I’ll give it to you if you tell me two things:
Did you invest the required amount half a million or one million?
And did you create the ten required jobs?
And if you can say yes and yes, then you’ll get approved for the permanent green card, and you’re a resident for the rest of your life.
Ok, so step one, step two and step three would lead me to the permanent residence for life.
Correct.
Okay, thank you attorney Menchaca.
My pleasure.
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