The foreign investor must complete three phases of the application process to become a permanent US resident:
Step 1 To obtain immigrant investor status, the foreign investor generally hires a qualified immigration lawyer to prepare and submit a completed Immigrant Petition by Alien Entrepreneur Form (Form I-526) to US Citizenship and Immigration Services (USCIS) along with supporting documentation clearly demonstrating that the investment meets all EB-5 requirements. Approval of the I-526 Petition will be the foundation for Step 2.
Step 2 If the foreign investor is residing within the US and has received Form I-526 approval, he or she may obtain conditional resident status by submitting a completed Application to Register Permanent Residence or Adjust Status (Form I-485) to USCIS. If residing outside the US, the foreign investor must apply for an immigrant visa at a US Consulate abroad.
Step 3 During the 90-day period prior to the expiration of the conditional period, the investor should file a completed Petition by Entrepreneur to Remove Conditions (Form I-829) to USCIS. In this petition, the foreign investor must demonstrate that the investment was sustained over the two-year conditional period, and the requisite jobs were created. The Regional Center will work with the investor and legal counsel to create the required documents. Upon approval of the I-829 petition, the conditional nature of the green card is lifted and full permanent residence is granted to the investor and the investor’s family members less than 21 years of age.