EB-5 Visa: Gamble or Guaranteed Green Card?

Given the long wait times, I’ve been recently been asked by clients if they should try to “buy their way” into the US.  What they are referring to is the EB-5 or investor’s visa.  To qualify, an investor must:

• Invest a minimum $1 million (unless the investment is a “targeted area” then the investor only needs to invest $500,000);
• Invest the capital in a new commercial enterprise; and
• Employ 10 fulltime US workers.

Thus, on its face, it would appear fairly simple to buy yourself a green card.   However, before you go to the bank and withdraw your life savings, you may want to read the testimony of Stephen Yale-Loehr , before the Senate Judiciary, Committee and the story of Bev Pamensky-Murray, who was in immigration limbo for four years before she received her green card.

This is not to say that the EB-5 visa is not an option for those who can afford it.  However, as Michael T. Dougherty, former ombudsman for the CIS, stated in his testimony before Congress "uncertainty has plagued the EB-5 program since its inception”.

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