If you are granted a conditional green card through the investment program (EB-5), and if your green card expiration date is near, you are required to petition to remove the conditions to become a permanent U.S. resident. Getting an unconditional green card is very important in order to live, work and travel in the US for the rest of your life. If you don’t remove the conditions on your status will result in the immigration authorities beginning removal proceedings against you.
Both investors and marriage-based green card applicants must apply to USCIS to show that they deserve to convert to permanent resident (unconditional green card)Source: U.S. Department of State
If you obtained your green card through investing into the U.S. (i.e., you filed an I-526 Petition for Alien Entrepreneur and U.S. Citizenship and Immigration Services or USCIS approved your petition and issued your green card), then you are a conditional permanent resident. All green card holders who obtain permanent residence through the EB-5 investor visa program are conditional permanent residents. There are no exceptions.
Additionally, the conditional permanent resident status extends to your dependents (spouse and children). You must file to remove the conditions on your dependents’ statuses at the same time you apply to remove your own conditions.Source: U.S. Department of State
The EB5 green card holders must provide strong evidence to support the Form I-829 petition to remove conditions. Sufficient evidence about the investment during the period of conditional permanent residency is very important. Generally, the EB-5 Immigrant Investor Visa (EB-5 Visa) required you to invest either $1,800,000 or $900,000 (the lower, $900,000 investment is allowed in the rural or high unemployment locations, which are also known as “targeted employment areas,” or “TEA” in short), and in return, the USCIS had approved you a conditional green card.
The immigrant investor must submit evidence of job creation in the United States. In the event of an investment in a new commercial enterprise, an immigrant investor must provide evidence demonstrating that the new commercial enterprise had generated, or can be anticipated to create (within a rational time frame), at least 10 full-time jobs for qualifying workers. In the event of a troubled business, the immigrant investor must submit evidence that the commercial enterprise has continued the number of employees it had prior to the investment for the period of the investor’s conditional permanent residence.Source: U.S. Department of State
What documents are required to file an I-829 petition?
There is a $3,750 filing fee and $85 biometrics fee associated with the filing for removal of the conditional resident status.Source: U.S. Department of State
The immigrant investor must submit I-829 petition to USCIS, 90 days prior to the anniversary of the date that the applicant first received his or her conditional residency in the U.S. But, if the I-829 is not submitted on time, the investor may not be granted permanent residency.
When the form I-829 petition is approved the EB 5 visa investor, his or her spouse, and their dependent children under the age of 21 are approved 10-year Green Cards that can be renewed easily. Now they can live and work in the United States permanently.Source: U.S. Department of State