I-829 Uncovered | BMK LLP NYC Immigration Attorneys

A great EB-5 investment attorney will carefully guide you through the EB-5 visa and investment process. In an effort to obtain a permanent US Green Card, there is a precise formula to follow. First, the immigrant investor must enter into a conditional green card status, then work with an attorney to meet USCIS required data to be submitted to lift the conditions.

I-829 Petition to Remove Conditions

Within 90 days of the 2-year conditional EB-5 green card’s expiration date, an investor must file the I-829, “Petition by Entrepreneur to Remove the Conditions.” There is a $3,835 filing fee and an additional $85 biometric fee for the spouse and each of the children of the EB-5 immigrant investor. At this time, it is crucial that the EB-5 investor works with seasoned EB-5 investment attorneys to properly execute the I-829 petition. If an investor worked in a new commercial enterprise, the required documents include: federal tax returns to prove the creation of the commercial enterprise, evidence that the total sum of the investment was used, and evidence of the number of employees - 10 jobs must be created within 13 months of filing the I-529 petition.

Small Details Make a Big Difference

Since the focus is on the position, not the person, an EB-5 investor could hire 10 of the same position and still qualify for approval. However, jobs will not be approved if they are "intermittent, temporary, seasonal, or transient in nature; they must be expected to last for at least two years,” as indicated by United States Citizenship and Immigration Services (USCIS). Additionally, if the jobs have not yet been created, but they are due to be within a reasonable period of time--which includes the three-year period after an investor is permitted in the US--the USCIS will likely approve. By the time the I-829 petition has reached a conclusion, the jobs themselves no longer need to be filled.

As the process shifts from initializing the I-526 petition to the conditional two-year period, the money must be released from escrow. The actual capital investment must also be fully met and maintained throughout the two-year conditional residence period within the same venture. The funds cannot be distributed to different or unrelated projects. USCIS indicates that there must also be the elements of risk present: “risk of loss and chance of gain”. If all of the money is lost, the I-829 petition may still be approved so long as the investor can prove it is a direct result of the investment.

Retaining EB-5 Investment Attorneys

As this process is growing in popularity, it is more important than ever that investors work with attorneys who know the intricacies of the EB-5 investment process, and who are experienced in the entire immigration system. Founded in 1930, BMK LLP has worked with thousands of clients with various immigration needs. Retain the team by calling 646-679-4980 today.

www.bmkllp.com