How much does EB5 cost for Australians to Immigrate to the US?

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Are you an Australian looking to immigrate to the United States? If so, you may have heard about the EB5 visa program. But what exactly is the EB5 process and how much does it cost for Australians to immigrate to the US through this program?

In this article, we will explore the EB5 visa program, the process for Australians to obtain it, and the associated costs.

    What is the EB5 Visa Program?

    The EB5 visa program is an employment-based immigration program that allows foreign investors to obtain a green card and permanent residency in the United States. This program was created by the US government in 1990 to stimulate the economy and create jobs by attracting foreign investment.

    To obtain an EB5 visa, an individual must invest a minimum of $1.1 million (or $800,000 in a targeted employment area) in a new commercial enterprise that will create at least 10 full-time jobs for US workers. The investment must also be at risk and cannot be a passive investment such as purchasing a home.

    The EB5 Process for Australians

    Step 1: Finding a Suitable Investment Opportunity

    The first step in the EB5 process for Australians is to find a suitable investment opportunity. This can be done through a regional center, which is a designated organization that sponsors EB5 projects and manages the investment process.

    Regional centers typically have a portfolio of pre-approved projects that meet the requirements of the EB5 program. They also provide support and guidance throughout the investment process.

    Step 2: Filing the I-526 Petition

    Once a suitable investment opportunity has been identified, the next step is to file the I-526 petition with the US Citizenship and Immigration Services (USCIS). This petition is used to demonstrate that the investment meets the requirements of the EB5 program and that the investor has the necessary funds to make the investment.

    The I-526 petition must include documentation such as business plans, financial statements, and proof of the source of funds for the investment. It typically takes around 18-24 months for the USCIS to process the I-526 petition.

    Step 3: Conditional Green Card

    If the I-526 petition is approved, the investor and their immediate family members (spouse and unmarried children under 21) will be granted a conditional green card. This allows them to live and work in the United States for a period of two years.

    Step 4: Filing the I-829 Petition

    Within 90 days before the conditional green card expires, the investor must file the I-829 petition to remove the conditions on their green card. This petition must demonstrate that the investment has been sustained and that the required jobs have been created.

    If the I-829 petition is approved, the investor and their family members will receive a permanent green card, allowing them to live and work in the United States indefinitely.

    How Much Does EB5 Cost for Australians?

    Investment Amount

    The minimum investment amount for the EB5 program is $1.1 million. However, if the investment is made in a targeted employment area (TEA), which is an area with high unemployment or a rural area, the minimum investment amount is reduced to $800,000.

    Regional Center Fees

    If an investor chooses to work with a regional center, they will typically charge a fee for their services. This fee can range from $60,000 to $90,000, depending on the regional center and the complexity of the project.

    Legal Fees

    Investors will also need to hire an immigration attorney to assist with the EB5 process. The legal fees for this can range from $30,000 to $45,000.

    Filing Fees

    There are also filing fees associated with the EB5 process. These include the I-526 petition fee of $3,675, the I-829 petition fee of $3,750, and the biometrics fee of $85 per person.

    Other Costs

    In addition to the above fees, investors should also consider other costs such as travel expenses, relocation costs, and living expenses while waiting for their green card to be approved.

    Conclusion

    The EB5 visa program offers a pathway for Australians to obtain permanent residency in the United States through investment. While the minimum investment amount is $1.1 million, there are additional fees and costs associated with the EB5 process.

    By understanding the EB5 process and the associated costs, Australians can make an informed decision about whether this program is the right choice for them to immigrate to the US.

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