Applying for the EB-5 visa is a life-changing decision with significant personal, professional, and financial implications for the entire family.
Hence, a clear understanding of the EB-5 visa lifecycle is essential to make an informed decision.
Before Filing the I-526E Petition
The formal EB-5 lifecycle begins with the filing of the I-526E petition, which is the EB-5 visa application. However, there are many preliminary steps and tasks that should ideally be completed before filing the I-526E petition.
These include analysis of the investor’s Source of Funds (SoF), choosing between the direct or Regional Center route, working with an EB-5 financial professional to compare different Regional Centers, and identifying the right Regional Center project.
The Source of Funds analysis is significant because an EB-5 investor can use only legally acquired funds to apply for the EB-5 visa.
Choosing the right Regional Center project is a very significant decision because this directly impacts the probability of recovery of the EB-5 investment in around four to six years.
This process includes comparing different Regional Centers, different projects, including rural projects that qualify for priority processing, and high-unemployment Targeted Employment Area projects.
I-526E Filing
The date of filing the I-526E petition is the Priority Date, which determines whether you will be subject to delays due to a potential visa backlog after I-526E approval.
Before the EB-5 Reform and Integrity Act of 2022, an investor could file for Adjustment of Status (AoS) only after I-526 approval. The Act allows an investor applying for the EB-5 visa from the US to apply for AoS concurrently along with the I-526E petition.
This is an extremely significant advantage because the pending AoS petition allows the investor to apply for the Employment Authorization Document (EAD) and Advance Parole (AP).
The EAD is a work permit that allows the investor to work for any employer anywhere in the US or even work as an entrepreneur without any restrictions whatsoever. The AP is a travel permit that allows free travel outside the US with minimal restrictions.
It can take around six to eight months to get the EAD and AP, which means an investor can enjoy the most significant benefits of the green card within just six to eight months of I-526E filing even as the EB-5 process continues.
Source : https://economictimes.indiatimes.com/nri/migrate/inside-the-eb-5-visa-lifecycle-from-initial-investment-to-green-card-approval/articleshow/112466004.cms
