Washington Foreign Investment Management Group (WFIMG) EB-5 Regional Center was created in a rural area near the city of Seattle, Washington to provide an investment vehicle for qualified foreigners seeking to obtain Permanent Residency status in the United States of America.
The EB-5 Regional Center pilot programs are formed in Target Employment Areas (TEA) in the state of Washington and offer great opportunities for foreign national investors to help grow the economies in these TEA areas. In return for an investment of $500,000 plus administration fees, the investor, spouse and unmarried children under 21 years age will receive a U.S. green card.
Base of USCIS regulation.
The WFIMG EB-5 Regional Center is in a unique position to take advantage of current business opportunities that exist throughout the state of Washington. Through its Principals and affiliates, the Regional Center has a strong knowledge base and extensive experience in Light Gauge Steel pre-fabrication panelized building production for residential and commercial properties. This business experience and our successful track record will give us an edge over other programs looking to take advantage of the unique market conditions in Washington’s growing marketplace.
Who is a candidate for an EB-5 Visa?
- People who can invest $500,000 into a TEA Regional center.
- Those desiring permanent U.S. residency on an expedited basis.
- Self –sufficient retirees.
- Those wishing to pay reduced in-state tuition for their children.
- Those investors not wishing to manage the U.S. business on a day –to-day basis.
- Those unwilling to deal with the risk and uncertainty of immigrant visa.
- Those with limited immigration options for legal Status in the United States.
Overview of the EB-5 Program
The EB-5 (Employment Based Fifth Preference) immigration investment program was established by congress in 1990, with the goal of attracting overseas investors to invest and create employment opportunities in the United States. According to the Immigration Act of 1990 Section 203(b) (5), obtaining permanent resident status (the “Green Card”) in the United States is generally restricted to three paths: Employment-based, Family-based and Entrepreneur-based programs. Because the Family and Employment-based options are subject to long visa backlogs and other major obstacles, the EB-5 “Immigrant Entrepreneur” program has become one of the fastest and most reliable visa options offered by the United States.
With relaxed eligibility qualifications and a special reserve of 10,000 visas, the EB-5 program opens the door to permanent resident status to retirees, entrepreneurs, students, business owners, professionals and more.
The Regional Center
A special designation issued by the USCIS called EB-5 Regional Center (RC) provides several major benefits to immigrants seeking residency through the traditional EB-5 program.
One of the most important advantages of working with a designated RC is the relaxed job creation requirements — this is critical to obtaining and sustaining permanent residency. Normally, an immigrant must prove he created and sustained 10 new, direct employees over a 24 month period. Under the RC program, however, the immigrant can satisfy residency testing by showing indirect job creation. In other words, the immigrant does not need to show he directly employs any workers.
Benefits of EB-5 Program
Obtaining EB-5 program is exceptionally flexible and offers many benefits over other immigrant visa options, including:
- No English language requirement.
- No minimum education requirement.
- No management experience.
- Allows for dual-citizenship.
- Live, work or retire anywhere in the United States.
- Residency requirement of only five or six months per year in the United States.
- Residency for entrepreneur and family (spouse & unmarried children under age 21).
- Qualifying foreign capital can come from gift, loan, inheritance, business ownership or any other lawful activities.
- Capital in escrow or trust account until USCIS approval notice issued.
- Eligible for U.S. citizenship (U.S. passport) in only five years.
EB-5 Investment Visa Requirements
- The investor must have invested $1 million (or $500,000 in a Target Employment Area) in a USCIS designated Regional Center.
- The approved Regional center must create at least 10 full-time jobs for U.S. workers (direct as well as indirect)
- The EB-5 investor must demonstrate that the investment capital was “lawfully gained”
- The investor must enter the United States within 180 days of visa issuance.
- Renting or buying a home
- Opening bank accounts
- Obtaining a social security number
- Obtaining a driver’s license
- Paying applicable taxes
The EB-5 visa holder is not required to be physically in the U.S. for any given amount of time, but must demonstrate the “intent” to be a resident. This includes:
Regional Center EB-5 investor processing chart
Invest $500,000 plus administration fees in your choice of regional center
Apply and file I-526 form for USCIS approval
Receive approval from USCIS
Receive conditional green card
After 24 months file I-829 to remove conditional basis of green card
Receive permanent green card
After 5 years eligible to apply for U.S. Citizenship and passport
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