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Foreign investors awaiting the approval of their EB-5 visa application often ask how long the processing time is. It is a pretty well-known "secret" that this program is a faster route to gaining a permanent resident visa than the standard procedure of being endorsed by a citizen or having to live in the country for at least 10 years.
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This is because the requirements for the EB-5 program are pretty straightforward, since they involve funding and investment. In general, for an EB-5 application to be approved, the foreign national has to invest at least $500,000 in a targeted employment area or $1 million in another industry. The investor must also be able to supply a minimum of 10 jobs to Americans, which will help boost the local economy. There are other requirements needed, but these two are the most important.
Processing time for the application depends on which regional center the foreign investor applies in. The center is determined by where the investor intends to set up his or her business. The times may also vary depending on the type of industry the investor will fund, and the type of petition applied for (permanent or temporary).
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Typically, the entire application process should only take around from two to six months, with six months considered a fairly lengthy time. If the application has already reached this mark, it is highly suggested that the foreign investor consult with an EB-5 specialist or contact an authority that can check the current status of the petition.
Learn more about the EB-5 program by following this Shalom Segelman Twitter account.
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