When an investor's EB-5 petition is approved by the U.S. Citizenship and Immigration Services (USCIS), they, along with their immediate family members (spouse and unmarried children under 21), receive a conditional green card, also known as a "Conditional Permanent Resident" status.
The conditional green card is typically valid for a period of two years from the date it is issued.
Having a conditional green card allows the investor and their family members to live, work, and study anywhere in the United States. They enjoy many of the same rights and privileges as lawful permanent residents (green card holders).
Conditional green card holders can travel in and out of the United States. However, it's important to maintain residence in the U.S. and avoid extended absences, as prolonged periods outside the country could raise questions about their intent to permanently reside in the U.S.
Conditional green card holders are required to adhere to U.S. laws and regulations. They must also maintain the conditions of their green card, including the requirement to engage in the EB-5 project and create the required jobs.
To obtain permanent green card status (without conditions), investors must file an I-829 petition with USCIS within the 90-day period immediately preceding the second anniversary of their admission as conditional permanent residents. This petition is a crucial step demonstrating the required jobs have been created.
The spouse and unmarried children under the age of 21 who are included in the investor's EB-5 petition also receive conditional green cards and must follow the same process to remove conditions.
Investors and their family members should be aware of the legal and financial responsibilities associated with having a conditional green card. This includes paying U.S. taxes on worldwide income and complying with U.S. immigration laws.
Consulting with an immigration attorney experienced in EB-5 matters is highly advisable to navigate this process successfully.
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