EB-5
Also known as: EB5, EB-5 visa, EB-5 Immigrant Investor Program, Fifth Preference Employment-Based
Foundational · EB-5 Glossary
Definition
The fifth employment-based immigrant visa category under the Immigration and Nationality Act, which grants permanent residence (a green card) to foreign nationals who invest a qualifying amount of capital in a U.S. business that creates at least 10 full-time jobs for American workers. Created by Congress in 1990 and most recently reformed by the Reform and Integrity Act of 2022.
Context
EB-5 is the only employment-based green card category that does not require a U.S. employer sponsor, job offer, or specific professional qualification. The investor is both the petitioner and the beneficiary.
Related Terms
More Foundational Terms
- Adjustment of Status
The process of changing immigration status to lawful permanent resident while physically present in the United States. In the EB-5 context, adjustment of status is one of two pathways to obtain a green card (the other being consular processing). The applicant files Form I-485 with USCIS.
- At-Risk Investment
The legal requirement that EB-5 investment capital be placed at genuine risk of loss for the purpose of generating a return. The investment cannot be structured with a guaranteed return of capital or a guaranteed rate of return. Arrangements that eliminate risk, such as redemption agreements, loan guarantees, or insurance against loss, are inconsistent with the at-risk requirement.
- Concurrent Filing
The practice of filing Form I-485 (Adjustment of Status) at the same time as or shortly after Form I-526E, when a visa number is immediately available. Concurrent filing allows the investor to obtain interim benefits (EAD and Advance Parole) while the I-526E is adjudicated.
- Conditional Residence
A two-year period of permanent resident status that EB-5 investors receive upon initial admission or adjustment of status. During this period, the investor holds the same rights as an unconditional permanent resident but must file Form I-829 to remove the conditions before the two-year anniversary.
- Consular Processing
The process of obtaining an immigrant visa at a U.S. embassy or consulate abroad. In the EB-5 context, consular processing is the alternative to adjustment of status for investors who are not in the United States or who prefer to process abroad. The final step is an in-person interview at the consulate.
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