How Long Does the EB-5 Visa Last?

The EB-5 visa is one of the most attractive ways for investors and entrepreneurs to obtain permanent residency in the United States, offering a direct path to a Green Card. But how long does this coveted visa last? For investors looking to settle in the U.S., understanding the timelines and conditions associated with the EB-5 visa is crucial.

The EB-5 visa has a very unique duration process. It does not simply "last" for a set period like some temporary visas (such as the H-1B). Instead, it is structured into two key stages:

1. Conditional Permanent Residency (CPR):
   When an investor's EB-5 application is approved, they first receive a conditional Green Card that lasts for two years. This conditional status is issued to ensure that the investment has been made and the job creation requirements are on track.

2. Permanent Residency:
   After the initial two years of conditional permanent residency, the investor must file a Petition to Remove Conditions (Form I-829) within a 90-day window before the conditional Green Card expires. If approved, the investor and their qualifying family members (spouse and unmarried children under 21) are granted unconditional permanent residency, commonly referred to as a 10-year Green Card, which can be renewed indefinitely.

Conditional vs. Permanent Residency

One of the most frequently asked questions revolves around the difference between the conditional and permanent residency stages of the EB-5 visa. To summarize:

• The Conditional Green Card lasts two years and is contingent upon the investor meeting the EB-5 requirements, such as maintaining the investment and creating 10 full-time jobs for U.S. workers.
• Once the conditions are removed, the investor and their family are granted a Permanent Green Card, which is valid for 10 years and renewable indefinitely. This Green Card allows the investor to live and work in the U.S. permanently.

Can You Lose the EB-5 Visa?

The EB-5 visa program is designed to be a pathway to permanent residency, but it does come with conditions. Failing to meet these conditions can result in losing the EB-5 visa or having it denied.

Here are key situations where an EB-5 investor might lose their status:

• Failure to Maintain Investment: The minimum investment amount, which varies based on location (currently $800,000 in a Targeted Employment Area and $1.05 million in other areas), must remain "at risk" for the duration of the conditional period. If the investment is withdrawn or fails to remain active during the two-year conditional period, the conditions on the Green Card will not be removed.

• Job Creation Requirement Not Met: The investment must create at least 10 full-time jobs for U.S. workers. If this condition is not met, the investor may not be able to transition from a conditional to a permanent Green Card.

• Inability to File the I-829 Petition in Time: Investors must file the I-829 petition within a specific time frame (90 days before the end of the conditional residency period). Failing to submit this petition can lead to the loss of the EB-5 status.

• Departure from the U.S.: Like any permanent residency status, maintaining physical presence in the U.S. is critical. If an EB-5 visa holder spends an extended period outside of the U.S. without proper reentry documentation (such as a reentry permit), they may be deemed to have abandoned their residency status.

Path to U.S. Citizenship

One of the most appealing aspects of the EB-5 visa is the eventual path to U.S. citizenship. After holding permanent residency (unconditional Green Card) for five years, investors are eligible to apply for U.S. citizenship through naturalization.

Here’s a basic timeline of the EB-5 process for investors:

1. Initial Application: Submit an EB-5 application (Form I-526). Approval typically takes several months to over a year.

2. Conditional Green Card: Once approved, a conditional Green Card is issued for two years.

3. I-829 Petition: Within 90 days before the end of the two-year conditional period, file Form I-829 to remove conditions.

4. Permanent Green Card: If the I-829 petition is approved, the investor and their family receive permanent Green Cards.

5. Citizenship: After five years of holding a permanent Green Card, investors are eligible to apply for naturalization.

Example: EB-5 in Action

Imagine you are an investor from Brazil looking to relocate to the U.S. with your family. You decide to make an EB-5 investment of $1.05 million in a business in Los Angeles. Once your application is approved, you and your family are granted conditional Green Cards.

For the next two years, you must ensure that your investment meets the requirements, specifically creating 10 full-time jobs. At the end of this period, you submit the I-829 petition, demonstrating that you have fulfilled the program’s conditions. Upon approval, you and your family receive 10-year Green Cards, and five years later, you have the option to apply for U.S. citizenship.

EB-5 Visa Extensions and Retrogression

For citizens of certain countries like China and India, EB-5 visa applicants may face delays due to visa retrogression, where the number of applicants exceeds the number of available visas. In these cases, applicants are placed on a waiting list, and the processing time can take years. However, once the initial conditional Green Card is issued, the timeline for removing conditions and applying for citizenship remains the same.

Conclusion: A Visa That Lasts a Lifetime?

So, how long does the EB-5 visa last? The simple answer: It can last a lifetime. Once an EB-5 investor transitions from a conditional Green Card to a permanent one, they are on the path to permanent residency and potentially U.S. citizenship. The initial two-year conditional period ensures that the investment is genuine and fulfills the job creation requirement, but after this phase, EB-5 investors enjoy the same rights and privileges as any other Green Card holder.

The EB-5 visa is more than just an investment. It’s a commitment to a new life in the U.S. and, for many, a permanent one.