Immigrant Law-EB-5 Immigrant /removal of conditions on permanent residence
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The removal of conditions on permanent residence is a crucial step in the EB-5 Immigrant Investor Program, which allows foreign investors to obtain U.S. permanent residency. Conditional permanent residency is granted initially for a two-year period, and to maintain permanent residency without conditions, the investor must file a petition to remove those conditions using Form I-829.
Key elements of the removal of conditions on permanent residence in the EB-5 program include:
Filing Form I-829: To remove the conditions on permanent residence, the investor must file Form I-829, Petition by Entrepreneur to Remove Conditions, with the U.S. Citizenship and Immigration Services (USCIS). This form must be filed within the 90-day period preceding the second anniversary of the investor's conditional permanent residency.
Supporting Documentation: The I-829 petition must be accompanied by supporting documentation to demonstrate that the investment has been sustained and that the required job creation has occurred. This includes evidence of the capital investment, job creation, financial records, tax documents, and any other documentation that validates the compliance with the EB-5 program requirements.
Evidence of Capital Investment: The investor must provide evidence that the required investment capital has been fully invested and that the funds have been placed at risk. This typically includes financial statements, bank records, and documentation showing the use of funds for the intended investment purposes.
Job Creation Requirement: The investor must provide evidence that the required jobs have been created as a result of the investment. This may involve submitting payroll records, tax documents, employee documentation, and other evidence demonstrating that the investment has resulted in the creation of the required number of jobs for qualified U.S. workers.
Compliance with EB-5 Program Requirements: The I-829 petition must demonstrate that the investor has complied with all the requirements of the EB-5 program, including the investment amount, investment location, and job creation targets. Any changes or deviations from the initial investment plan should be explained and documented as necessary.
USCIS Processing and Adjudication: Once the I-829 petition is filed, USCIS will review the documentation and conduct background checks. If additional information or evidence is needed, USCIS may issue a Request for Evidence (RFE) to which the investor must respond within the given timeframe. USCIS will then make a decision on the petition and notify the investor of the outcome.
Permanent Residency Without Conditions: If the I-829 petition is approved, the investor's conditional permanent residency will be converted to permanent residency without conditions. This allows the investor and their family members to permanently live and work in the United States without the restrictions or limitations associated with conditional residency.
The removal of conditions on permanent residence is a significant milestone in the EB-5 Immigrant Investor Program. It is crucial for investors to work closely with experienced immigration attorneys or professionals who specialize in the EB-5 program to ensure the proper filing of Form I-829 and the submission of comprehensive supporting documentation. By meeting the requirements and successfully removing the conditions on permanent residency, investors can fully enjoy the benefits and privileges of being a permanent resident of the United States.