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Q: When and for whom was the EB-5 visa program created? A: The EB-5 visa program was created in 1990 under section 203(b)(5) of the Immigration and Nationality Act (INA). The program was created by Congress to allow foreign immigrants to seek permanent resident status on the basis of an investment in the US economy.
Q: Who should invest in EB-5 visa program? A. Foreign investors seeking the freedom and flexibility to live and work in the United States, the EB-5 Visa program provides an excellent opportunity to obtain green cards. A green card provides permanent residency for the applicant, his or her spouse and any offspring under the age of 21. The EB-5 visa investment route to a green card avoids the usual requirement of having family connections, securing a job or running an actively traded business - making it a viable route to retirement.
Q. What are the basic requirements for an EB-5 visa? A. There are three basic requirements for an EB-5 visa. First, the applicant must establish a U.S. business. Second, the applicant must have invested $1 million ($500,000 in some cases) in the business. Third, the business must create full-time employment for at least 10 U.S. workers.
Q. What are the processing procedures for EB-5 visa? A. Generally, the application process is as follows:
Step 1. Applicants must obtain approval of his Form I-526 Petition for an Alien Entrepreneur.
Step 2. Upon approval of the I-526 petition, (a) if you are in the United States, the applicant needs to file a I-485 application to adjust status to lawful permanent resident or apply for an immigrant visa at a U.S. consulate or embassy if located outside of the United States. The EB-5 applicant and his family members are granted conditional permanent residence for a two year period upon the approval of the I-485 application or upon entry into the United States with an EB-5 immigrant visa. Step 3. A I-829 petition form known as the an "Entreprenuer to Remove Conditions" must be filed 90 days prior to the two year anniversary of the granting of the EB-5 applicant's conditional green card. Once this petition is approved by the CIS then the EB-5 applicant will be issued a new green card without any further conditions attached to it and the applicant be allowed to permanently live and work in the United States.
Q. Does a gas and oil investment qualified for EB-5 visa?
A. Yes.
Q. What role does LUCA play in EB-5 visa program?
A. LUCA is here to provide the eligible investors who are interested both an oil and gas investment and the opportunity to participate in the EB-5 visa program.
Q. How does LUCA help investors participate in the EB-5 visa progam? A. First, LUCA forms a investment partnership with the investor through the LUCA Energy Fund Regional Center.
Second, the investment received from the investor will be used to form a new business entity. LUCA will act as a management company by helping the investment partner invest their funds in the oil and gas industry. As a result, this helps the investment partner meet their qualification for EB-5 immigration filling and at the same time LUCA will manage its partner's investment to help them maximize their profits.
Q. Where can I find out more informaiton on the EB-5 visa program? A. Further information regarding the application process, requirements, and benefits of the EB-5 visa program can be found on the Web site of the U.S. Citizenship and Immigration Services (www.uscis.gov).
To download the EB-5 visa application form, please click the link below:
Download Application Form
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