- Firstly, the investor must apply a Form I-526: “Immigrant Petition by Foreign Entrepreneur”.
- Secondly, after approval of the Investor’s Petition I-526, he or she must pass an interview at the Consulate for consideration biography and medical history, or if they are already in the U.S., appropriate changes will be modified to their immigration status.
- And finally, after two years (2) from the date of granting a conditional green card and entry the United States, he or she must apply I-829 Form , Entrepreneur’s Petition to Cancel Conditions, to show that their investment fully satisfy all the requirements of the U.S. in order to obtain a permanent green card.
The process from the moment of filing the I-526 Petition till passing the interview at the U.S. Consulate and obtaining a conditional green card takes about 8 months or less. The applicant gets all investments back after 4 years + 2.75%
- 1. Birth certificate for all family members;
- 2.Marriage certificate;
- 3. Passports;
- 4. Police certificates (Russia);
- 5. Business registration;
- 6. Tax returns (personal and Corporation);
- 7. The donation;
- 8. Real estate (documents for property in Russia and America);
- 9. Dividends;
- 10. Job reference;
- 11. Bank letters (America and Russia)
EB-5 Immigrant Investor Program was established in 1990 and had attracted rather small number of immigrants. The regional centre has flexible requirements for employment creation, it also creates “passive” investment opportunities (through limited partnerships) for a significant growth of potential immigrant investors. Regional centers received 5,000 of the total number of 10,000 EB-5 visas granted under U.S. Immigrant Investor Program.
Advantages of PIDC Regional Center
A potential immigrant-investor willing to obtain a EB-5 visa has certain benefits due to the application through the regional centers, such as the PIDC Regional Center. For example, if investor wants to apply for a EB-5 visa by himself, he must invest at least $1,000,000, but, if he applies through PIDC Regional Center, the investment amount is only $539,000, because the money will be invested in approved target employment program. Moreover, PIDC Regional Center can bring several investors together into one project, which means that the project is larger and financially more stable itself than when someone invests alone. Now PIDC Regional Center has over 341 investors participating in 20 limited partnerships. All these investors are at different stages of the application process. The limited partnerships vary in amount: from 4 investors to more than 50. All PIDC projects
located in Philadelphia and cover a wide range of industry sectors, including, manufacturing companies, professional firms, restaurants, hospitals and universities, and also major projects of the real estate construction.
During the investment process, PIDC keeps contact with each immigrant-investor. All investors receive reports on the status of investment, information about employment creation, the economy of Philadelphia and other important project information.