How long for investor approval

Are Regional Centers Safe? A few things you should consider if you wish to invest in a Regional Center: 1. Guarantee compliance with U. Minimize or eliminate risk to the investor. Do You Need A Lawyer? Schedule A Consultation. We are happy to offer our EB-5 visa guide that describes the EB-5 visa requirements, and other advise to assist with your EB-5 visa application.

For more info visit our EB-5 visa service Page or schedule a consultation so we can handle your EB-5 visa process. We use cookies on our website to give you a relevant experience by remembering your preferences and repeat visits. Do not sell my personal information. Manage consent. Close Privacy Overview This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website.

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If an EB-5 investor from Canada has elected to go the direct investment route, however, he or she is obligated to play an active managerial role in the new commercial enterprise while the conditional Green Card is in effect. After two years of compliance with all conditions of the US Immigrant Investor Program, eligible participants from Canada are entitled to have the conditions of their EB-5 Green Card removed.

To apply to have these conditions officially removed by immigration authorities, immigrant investors must file an I petition. If you plan to hire a United States EB-5 lawyer, always ensure that his or her professional services include the preparation of an I Form and do not formally end once the I petition is approved.

USCIS I Application Must Prove: The investor made and maintained the required capital investment during the two-year period that begins six months after his or her I petition is approved The new commercial enterprise created or preserved, or can expect to create within a reasonable time, ten full-time American jobs. Since a conditional Green Card cannot be renewed, it is important to file the I petition on time and to effectively demonstrate compliance with all investment Green Card conditions.

The failure to do so can lead to the loss of United States permanent resident status. Once received by an EB-5 participant, an unconditional Green Card is valid for ten years. It can be renewed prior to its expiration, or the investor and family members can eventually apply for US citizenship.

It may be possible for an EB-5 investor from Canada to become a US lawful permanent resident even if he or she has not yet made the entire capital investment or created the required number of jobs. Conditions of EB-5 Good Faith Compliance: A new commercial enterprise in the United States must have been successfully established The applicant must have acted in good faith by substantially meeting the EB-5 investment criteria The petition must establish that all required jobs will be created within a reasonable time period.

Even if the investment and job creation requirements have not been fully satisfied, showing good faith compliance with the stipulations of the US EB-5 Immigrant Investor Program can potentially lead to unconditional US permanent residency. EB-5 investors should keep in mind, however, that they are expected to make the full investment and to create the required jobs within the two-year period. If they cannot, they must provide a reasonable explanation for their inability to do so, as well as evidence that all required jobs will be created within a reasonable time.

The phrase "reasonable time" does not imply an open-ended time frame. USCIS generally expects any outstanding jobs to be created within the following year. After receiving a conditional Green Card through investment, Canadians will need to provide proof that they have satisfied all conditions of their EB-5 Visa. The following documents can be used to exhibit that an EB-5 participant has satisfied the various prescribed requirements of the US investor immigration program.

EB-5 Required Documents: Business formation documents, such as articles of incorporation and if applicable a partnership or shareholder agreement Business licenses or certificates required by the state in which the enterprise is located Financial statements proving that the required capital investment has been transferred to the small business or EB-5 Regional Center.

Bank statements showing that the required investment has been deposited into a bank account maintained by the enterprise will usually satisfy this EB-5 requirement.

Proof of assets purchased and transferred to the business in the form of invoices, sales receipts, or purchase contracts may also be considered suitable verification. Financial records showing that the capital investment came from the Canadian investor's own resources.

The individual's personal bank statements showing a withdrawal or personal loan that matches the amount of the investment may satisfy this requirement. Payroll records proving that the required number of jobs have been created and maintained When an existing business has been expanded, proof of the increase in its net worth will be needed. This can be substantiated with financial statements or an independent valuation by a competent third party. A qualified immigration professional can provide advice and assistance in assembling the many documents that will be needed to prove compliance with EB-5 Immigrant Investor Visa conditions.

Investing in an EB-5 Regional Center can also make obtaining some imperative documentation more straightforward. Questions about US Investor Visa eligibility or document requirements?

Our EB-5 attorney is here to help and offers complimentary consultations. After being an unconditional lawful permanent resident of the United States for five years , a Canadian EB-5 participant and their family members can apply for naturalization as American citizens. To qualify for US naturalization, an applicant must meet several criteria. US Citizenship Requirements For EB-5 Green Card Holders: Have reached the age of 18 Have lived in the same state for at least three months before the US citizenship application is submitted Have resided continuously in the United States for five years, and have been physically present in the US for at least 30 months of the last 60 months before the application is filed Demonstrate proficiency in written and spoken English, as well as an understanding of American history and government Be a person of good character which generally means that the applicant has no criminal convictions.

Both Canada and the United States of America allow dual citizenship. Consequently, successful EB-5 petitioners from Canada can ultimately become dual Canadian-American citizens with both a Canadian and American passport.

The amount of time it takes for a Canadian to obtain US permanent residency or citizenship through the EB-5 Program depends on a variety of factors, the primary one being current USCIS processing times.

To help you better under the EB-5 process and timeline, below we have provided a basic step by step guide to USA citizenship by investment. Please note: this is just a brief EB-5 Program summary, and is not offered as a detailed or comprehensive guide to the EB-5 Green Card process. Always consultant with an EB-5 immigration professional about your specific situation before proceeding. Step 2: Evaluate USA EB-5 investment options with financial advisor and legal counsel, and determine the route that is best for you.

Estimated duration: days. Legal counsel can help with EB-5 Regional Center due diligence. Step 4: Place capital investment in an escrow account.

EB-5 attorney should review escrow paperwork. Estimated processing time: months. Step 8: Complete I petition with supporting documentation proving EB-5 compliance. Eligible after: 2 years. Step 9: Receive unconditional Green Card approval. Step Apply for US citizenship. Eligible after: 5 years of living in the United States. A capital investment is a contribution of money or assets to a new commercial enterprise. Almost any legally acquired asset that has a measurable value could be used to make a capital investment, including all of the following.

When non-cash assets are used to satisfy the EB-5 capital investment requirement, they must be valued at their fair market value in US dollars. The primary EB-5 applicant must also be the legal owner of all assets that are used to make a qualifying capital investment in an American business or EB-5 Regional Center.

Since contributions of equipment and inventory count toward the US Investor Visa capital investment requirement, it is possible for an applicant to close a business in another country such as Canada and to open a similar business in the United States. He or she can then use equipment and inventory from the former business to meet some or all of the US Immigrant Investor Program capital investment provisions.

Under United States Immigrant Investor Visa Program legislation, a personal loan may be used to fund a EB-5 investment if the following conditions are met.

EB-5 Financing Rules: The loan must be secured by the Canadian investor's personal assets in an amount that equals the investment capital The investor must be personally and primarily responsible for the loan The loan must be payable within two years with no provision for extensions. If the loan is secured by assets of the new commercial enterprise in which the investment is being made, rather than the investor's personal assets, the investment will not count as a capital investment under EB-5 policy.

An investment is a contribution of capital to the new commercial enterprise. Loaning money to the enterprise is not a contribution of capital and is therefore not an investment according to the terms and conditions of the EB-5 immigration program. To qualify under the program, the capital investment must place the investor's capital at risk. In other words, if the business fails, the EB-5 investor must be at risk of losing his or her investment. If a USA Investor Visa holder is guaranteed a return of any portion of their EB-5 investment, that portion is not considered at risk and does not count toward the required capital investment.

For example, if a redemption agreement protects the Canadian investor against the risk of loss, any capital that is protected by the redemption agreement cannot be considered part of the compulsory capital investment under EB-5 rules.

Nothing prevents a participant of the EB-5 Investor Program from making a gain or profit from the mandatory investment. In fact, commercial enterprises are expected to operate at a profit and all EB-5 Regional Centers should plan to make money for their shareholders. During the first two years of the investor's participation in the EB-5 Program, however, the investor's profit or other return on the investment cannot be guaranteed , and it cannot be paid from the investor's required capital contribution.

The EB-5 Investment Visa has been very popular among Canadians over the years, with Canada consistently ranking as one of the immigration program's top 20 source countries. People from Canada who wish to retire in the United States frequently participate in the program, as do many Canadian "snowbirds" who want to buy real estate in Florida, Texas, Arizona, California or Hawaii and spend their winters enjoying the warm climate.

US immigration by investment is also popular among Canadian parents who dream of having a child attend a prestigious American university in the near or distant future. For example, it may be significantly easier for a Canadian to qualify for an Ivy League school as a local resident EB-5 Green Card holder or dual citizen as opposed to an international student.

Investor Green Card holders can also qualify for in-state tuition at many colleges and universities, which can potentially result in tremendous savings for a family. Individuals who base their qualifications on annual income will likely need to submit tax returns, W-2 forms, and other documents that indicate wages.

Individuals may also consider letters from reviews by CPAs , tax attorneys, investment brokers , or advisors. Accredited investor designations also exist in other countries and have similar requirements. The requirements to be an accredited investor in certain countries are similar to those of the U.

In the EU and Norway, for example, there are three tests to determine if an individual is an accredited investor. The first is a qualitative test, an evaluation of the individual's expertise, knowledge, and experience to determine that they are capable of making their own investment decisions.

The second is a quantitative test where the individual has to meet two of the following criteria:. Lastly, the client has to state in written form that they want to be treated as a professional client and the firm they want to do business with must give notice of the protections they could lose.

Other countries, such as India and Switzerland, don't have explicitly stated requirements but instruct that one must meet with a local council beforehand to determine if they are an accredited investor.

There are both pros and cons of being an accredited investor. The primary benefit of being an accredited investor is that it gives you a financial advantage over others. Because your net worth or salary is already among the highest, being an accredited investor allows you access to investments that others with less wealth do not have access to.

This, in turn, could further increase your wealth. These investments could have higher rates of return, better diversification , and many other attributes that help build wealth, and most importantly, build wealth in a shorter time frame. One of the simplest examples of the benefit of being an accredited investor is being able to invest in hedge funds. Hedge funds are primarily only accessible to accredited investors because they require high minimum investment amounts and can have higher associated risks but their returns can be exceptional.

That being said, in the last few years, hedge funds have had a hard time beating the market, but many have historically been able to do so, providing their investors with extremely high returns in a very short period.

There are also cons to being an accredited investor that relate to the investments themselves. Most investments that require an individual to be an accredited investor come with high risk. The strategies employed by many funds come with a higher risk in order to achieve the goal of beating the market.

Coupled with the high risk is another con; most investments require a high minimum investment. Simply depositing a few hundred or a few thousand dollars into an investment will not do. Accredited investors will have to commit to a few hundred thousand or a few million dollars to partake in investments meant for accredited investors. If your investment goes south, this is a lot of money to lose. Furthermore, there are higher fees associated with accredited investor investments. These primarily come in the form of performance fees in addition to management fees.

Another con to being an accredited investor is the ability to access your investment capital. For example, if you buy a few stocks online through an electronic platform, you can pull that money out any time you like. With an investment in a hedge fund, for example, your money can be locked up from anywhere to a year, to five years, or more. Being an accredited investor comes with a lot of illiquidity.

In the U. The burden of proving that you are an accredited investor does not fall directly on you but rather the investment vehicle you would like to invest in. An investment vehicle, such as a fund, would have to determine that you qualify as an accredited investor. To do this, they would ask you to fill out a questionnaire and possibly provide certain documents, such as financial statements, credit reports , or tax returns. But in practicality, many of the developers are pushing for an immediate release, so if that's the case I find what mechanisms are in place to return the funds in case of a denial: "Does there need to be another investor as a replacement for my investor to get their money back?

There are some regional centers that will put themselves on the line and they'll advance the funds if there's an issue. Escrow is helpful to protect investors against potential denials and to be used by Regional Centers and project developers that are not as well known. I prefer to see escrow in deals where there is a greater potential for fraud such as disclosed conflicts of interest between the NCE and JCE.

Rupy: As Dawn mentioned, repayment of investor's funds in the event of denial is a common investor concern and investors want to know the terms of refund for both the investment and the administrative fees. Other regional centers provide a 'guarantee' that funds will be returned to investors in case of denial. One would hope that the NCE manager has underwritten the guarantee by reviewing the net worth and liquidity of the guarantor to ensure that in the event of denial, the guarantor is actually able to pay the investors back.

But in many situations we have found that guarantees are not properly vetted and may not protect investors as promised. Catharine: We recommend that our clients make the investment before they file their I petition. According to the regulations one can actively be in the process of investing when they file but we tend to request that our clients make the investment, receive the confirmation letter from the regional center and then we file the I petition.

Catharine: From the initial meeting until when we file, the entire process can be as short as one to two months or it can take as long as six to eight months. Most of the time is spent with the investor, deciding which regional center he wants to invest in and waiting for the investor to do his own due diligence, as well as translating the source of funds documents and reviewing them. What is the investor's goal? If it's for their child, and the investor never plans on living in the U.

Or their spouse may be a better petitioner. I think the immigration service is going to start to scrutinize EB-5 more carefully because there are a lot of EB-5 immigrants that are not living in the United States.

Sam: Investors oftentimes look at the EB 5 Visa program in comparison to other immigration programs around the world and sometimes they're surprised to hear about some of the differences in the requirements to be a permanent resident of the United States, and how taxation as a U.

It's an important part of the process for an investor to meet with a tax lawyer and discuss tax planning. As an immigration attorney, you need to make sure your client is adequately informed about the different aspects of making an EB-5 investment.

Rupy: Investors sometimes don't understand that their investment must be an equity investment. The NCE will then make a loan or potentially an equity investment into a project. To make a decision about the investment structure is one of the most complicate parts of the EB-5 process , one has to understand the risks associated with debt versus equity, understand the different types of debt structures and rights and remedies associated with the investment structure.

Debt can be secured with the assets of the JCE or it can be unsecured and debt has a higher priority of repayment than an equity investment. It is very important to review the loan documents to understand the rights and remedies of the lender, which is the EB-5 investor fund. In a preferred equity investment, investors should review the operating agreement of the developer JCE , to understand their rights associated with their investment.

It's very important to differentiate between the investment into the NCE always equity and the investment into the JCE can be either debt or equity. And it is important to identify any conflicts of interest disclosures in the PPM. Sometimes even though the parties are unrelated, there can still be conflicts of interest due to the way compensation is structured.

There can also be conflicts regarding common ownership and conflicts regarding incentives given to certain parties. These are serious issues investors need to evaluate. We also recommend that investors look at the background history for developers, to see if the developer has any experience in the project that they're undertaking.

Even though a regional center might be new, an experienced developer is a good indication of the project's strength. Sam: It depends on the terms of the documents the investor is signing. It depends on where the petitioner is in the process, and on whether or not it's been approved.