A foreign national seeking to come live in the United States for employment on a permanent basis must obtain permanent residence in the United States. This is often called a “green card.”  As a permanent resident, he or she may work, move about the country, come in and out of the United States and have rights and privileges that temporary visa holders do not. He or she may also apply for naturalization to become a citizen.

Employment-based petitions for permanent residence are divided into categories, called “preference categories.” Four of these categories require employer sponsorship, and are based on the applicant’s skill and the job he or she is expected to fill. The fifth, the EB-5 preference group, is based solely on the investment the applicant is making and the jobs that the investment will create.

To qualify to file an EB-5 immigrant investor petition, the applicant must meet certain qualifications. These include:

• The investor must be establishing a new commercial enterprise, including a sole proprietorship, partnership, holding company or corporation;
• The investment must create, or in some circumstances preserve, at least 10 full-time jobs within two years or within a reasonable period of time thereafter; and
• Invest at least $1 million of capital or $500,000 if in a rural area or a Targeted Employment Area (TEA, an area that has 150 percent of the national unemployment rate).
  
  

An investor may employ his or her family members, but they will not be counted toward the 10-job requirement.

The permanent resident status granted on the basis of an approved EB-5 petition is conditional and is valid for two years. Before the expiration of the two years, the investor must file a second petition to show that the enterprise in which he/she invested is still operational and the job creation anticipated from the investment has occurred or will occur in a reasonable period of time.  If the investments are not made or an insufficient number of jobs are created in two years, the conditional residence is terminated and the individual is referred to immigration court.