Your choice of EB-5 service providers affects the prospect of getting an EB-5 visa—and ultimately a U.S. Green Card.
The U.S. government’s approval rate for EB-5 visa applications varies depending on several factors, with an average of about 75% to over 80%. In the third quarter of FY2023, the average approval rate of an I-526 petition was 71.7%. Despite a high success rate, the chances of rejection remain possible if you aren’t fully prepared.
For example, you won’t obtain an EB-5 visa if you can’t prove the legitimacy of your funds and/or income. Remember that the United States Citizenship and Immigration Services (USCIS) requires thorough documentation of a person’s financial capacity.
Another reason for a rejected EB-5 visa is being unable to convince the USCIS that your investment will create jobs. Your EB-5 visa application must show that your investment in a new commercial enterprise can “create or preserve 10 permanent full-time jobs.”
In addition, EB-5 immigrant investors should have clean criminal and civil records. If you have legal cases such as a pending court trial in the U.S., you may find it hard to acquire an EB-5 visa.
By knowing which service providers can help you during your application process, you can increase your chances of EB-5 visa approval.
In this article, we will take a look at some key EB-5 professionals and how they can help investors through their immigration process.
Who Are the Key Service Providers for Your EB-5 Visa Process?
Choose an Experienced and Qualified EB-5 Immigration Attorney
Pick the Right USCIS-Designated EB-5 Regional Center
Find a Reputable Financial Advisor
How to Start the Process
Who Are the Key Service Providers for Your EB-5 Visa Process?
The essential EB-5 service providers are immigration attorneys, EB-5 regional centers, and a reliable CPA or financial advisor.
Legal counsel could be the most important one of all. One example involves Lorrie Rojas’ successful EB-5 visa application through a hotel project investment.
Rojas, a Filipino national, describes the selection of an immigration attorney as one of the “most daunting tasks” for her EB-5 visa journey. Her eventual choice spelled the difference for a smooth application process, and thanks to her attorney’s diligence, Rojas’ Form I-526 was approved without any delays.
Aside from legal counsel, foreign nationals must also make a choice between direct or regional center projects at the investment stage. Direct EB-5 investors will need to consult with additional service providers like an EB-5 economist and business plan writer. Investors who choose a reliable regional center, however, do not need to hire such professionals separately.
When looking for a qualified EB-5 regional center, investors should pay attention to how easy it is to communicate with them, aside from their track record of success.
For example, a Sri Lankan national invested in EB5AN’s Twin Lakes Georgia EB-5 project. According to him, the project’s EB-5 team became a primary factor for the successful investment, as they worked directly with the applicant.
Choose an Experienced and Qualified EB-5 Immigration Attorney
You wouldn’t hire a tax attorney to handle your personal injury claim. The same concept applies to the EB-5 visa process.
While the USCIS doesn’t require legal representation, there are plenty of reasons to hire the right EB5 visa attorney. Lowering the risks of USCIS issuing a request for evidence (RFE) is one of them.
An RFE issuance happens at the discretion of the USCIS. EB-5 visa applicants receive RFEs when they fail to provide enough details for an EB-5 investment. In other words, filing a well-prepared, complete initial application with the help of an attorney can accelerate your EB-5 visa process.
However, the USCIS may reject an application even without prior RFE issuance, which is a bigger reason to have legal representation and avoid this outcome.
Immigration attorney Ahmed Khan, an EB5AN partner, recommends immigration lawyers with at least five years of experience in working with EB-5 visa applicants.
You should also choose an attorney with updated knowledge of immigration law and specific EB-5 regulations. An example is their familiarity with the Reform and Integrity Act of 2022 (RIA), updated USCIS language and guidelines, and recent industry data suggesting upcoming changes in the way set-aside categories may benefit EB-5 investors.
Pick the Right USCIS-Designated EB-5 Regional Center
To make an indirect EB-5 investment in the U.S.—which entails less day-to-day involvement with the management of the EB-5 business and easier job creation requirements to fulfill—a government-authorized regional center with a successful track record is your best choice.
The USCIS defines an EB-5 regional center as a public or private economic entity in the U.S. These regional centers promote economic growth in the country by participating in the EB-5 Immigrant Investor Program to pool and manage investment capital.
Prospective investors can find a full list of approved EB-5 regional centers by state on the USCIS website to verify an EB-5 regional center’s designation status. Take note that it’s normal for an EB-5 regional center to operate in more than one location.
A regional center that has vast experience with international investors is a valuable EB-5 service provider. By choosing a regional center with a strong EB-5 team, investors can do their due diligence from overseas, and eliminate the need to provide additional documents to USCIS, such as a detailed business plan and economic analysis of the EB-5 project they’re investing in.
Find a Reputable Financial Advisor
Whether you choose a direct EB-5 investment or via a regional center, you should find a trustworthy financial advisor to help with several steps of your application process.
A third-party investment advisor, CPA, or financial advisor can help prospective EB-5 investors select the right project and perform due diligence on project offerings and financial projections. They can assist in tracking and preparing financial documents to meet source of funds requirements.
While other key service providers such as EB-5 business plan writers and fund managers are typically involved in a regional center project’s structure, investors can independently seek assistance with accounting, financial planning, and tax planning for added support.
How to Start the Process
Keep in mind that a legitimate EB-5 service provider won’t promise that you can acquire U.S. permanent residency with an EB-5 visa application alone—it is a complex process with several requirements applicants must fulfill.
However, choosing the right team to support you throughout your application can significantly increase your chances of success.
EB5AN has helped more than 2,300 families from 60 countries relocate to the United States as lawful permanent residents. Our expert team has more than a decade of experience, and offers clients first-rate, low-risk EB-5 regional center projects with 100% USCIS project approval rate to date.
Schedule a free consultation today to meet our team and find out more about how to navigate the requirements of the EB-5 regional center program.