- What are the protections and guarantees in the Berkeley Regional Center EB-5 projects?
- Can I travel outside the U.S. after I receive my permanent residency?
- How many family members can immigrate through EB-5 investment?
- Is approval of my application for U.S. Citizenship after 5 years guaranteed?
- Is EB-5 a passive investment?
- How Long Should an EB-5 Investor Remain in the United States Each Year?
- If an investor has EB-5 visa and conditional green card, does he/she need to stay in the US for a minimum number of days in the first 2 years in order to gain a permanent green card? How about his/her dependents?
- What is a reentry permit?
- Can Adopted Children immigrate with me on EB-5?
- Accredited Investor
- For EB-5, What is Considered a Commercial Enterprise?
- Are there any nationality restrictions for EB-5 applicants?
- USCIS requires EB-5 investments to be “At-Risk”, so how do your projects have guarantees?
- What are the Investment Requirements for EB-5?
- Can an Investor Apply if They Have Been Rejected or Terminated in the Past by USCIS for a Previous Visa?
- May two or more investors qualify for immigration based upon a pooled investment in a single business?
- What is the I-526 Petition?
- There is a background check required for EB-5 investment, what information is USCIS concerned with?
- What Can Disqualify an Investor from Participating in the EB-5 Program?
- What is an EB-5 I-526 Petition?
- What is an I-829 Petition?
- What is a I-485 Petition
- What are the various forms and petitions for EB-5 investments?
- Targeted Employment Area
Source of Funds
- Can a Loan Be Used to Supplement My EB-5 Capital Investment?
- Can I use a Bank Loan?
- What documents need to be translated when filing the I-526 petition?
- Can I Use a Gift as My Source of Funds?
- Who can gift me funds for my $500,000 investment?
- Can I Use 401(k) funds for EB-5 Investment?
- What is the Source of Funds report?
- 5 Things EB-5 Investors Can Do Preparing for Their Source of Funds Report
- Partial Payments
- Job Creation
- Regional Center
- EB-2 / EB-3
What is an I-829 Petition?
I-829 Petition Basics
The I-829 petition is the final stage of the EB-5 investment process. The I-829 petition is a form filed by the EB-5 investors immigration attorney to remove the conditions from the EB-5 investors conditional greencard after their project has created jobs. Behring and the Berkeley Regional Center supervise these processes and assist with the filings from start to finish.Contact us to learn more.
I-829 Petition In Detail:
Two years after a foreign national’s Form I-526 has been approved by United States Citizenship and Immigration Services (USCIS), he or she must submit Form I-829, Petition by Entrepreneur to Remove Conditions. Specifically, this form must be filed within the last 90 days of the investor’s two-year conditional residency period. Failure to submit this form within this timeframe may jeopardize a foreign investor’s ability to gain lawful permanent resident status. An I-829 Petition must prove to USCIS that the investor has met all the requirements of the EB-5 Program. Once the I-829 Petition is approved by USCIS, an investor and his or her qualified family members will be awarded lawful permanent resident status.
Since Form I-829 is a petition to remove the conditions from the investor’s permanent resident status, the investor must demonstrate he or she possesses conditional permanent resident status. This can be accomplished by providing a photocopy of the investor’s Green Card. Also, because removing the conditions from the investor’s resident status is contingent upon successfully completing all the requirements of the EB-5 program, the investor must provide accompanying documentation that demonstrates he or she has met all the criteria of the EB-5 Program. To demonstrate that a new commercial enterprise was established, the investor will need to provide federal tax returns that document the enterprise’s existence. In addition to proof that the enterprise was created, the I-829 and accompanying documentation must show that the enterprise existed through the duration of the investor’s two-year conditional residence. Acceptable evidence may include state and federal tax returns, quarterly tax statements, bank statements, contracts, licenses and certifications, receipts, and invoices. The investor will also need to provide proof that the requisite capital was invested. Such proof may include bank statements, audited financial statements, or some other form of evidence that demonstrates the investor’s capital was received by the new commercial enterprise. Additionally, the EB-5 Program requires that the investor’s capital investment result in the creation of 10 full-time jobs. Certain tax documents and payroll records can be used to demonstrate this requirement was met. For an applicant with a criminal history, certain legal documents must also be provided, such as related court records, law enforcement statements, or any records of arrest, sentencing, probation, or parole.
Filing Form I-829
Typically, Form I-829 is prepared and filed by immigration attorneys on behalf of their EB-5 investor clients. The USCIS fee for filing Form I-829 is $3,750; if required, the biometrics services fee is $85. This petition is sent to the USCIS California Service Center. Generally, it takes six months or more for USCIS to process Form I-829, and once processed, USCIS may request more information or schedule an in-office interview. When an investor’s I-829 is approved by USCIS, his or her conditional status is replaced by lawful permanent resident status, and he or she will be issued a new Green Card to reflect this status change. If desired, the investor may apply for citizenship five years after initially being granted conditional permanent resident status.