When applying for permanent residency in the United States under the EB-5 Program, you must file Form I-829.
The United States Citizenship and Immigration Services (USCIS) administers the EB-5 Program, allowing persons to invest in the United States economy in exchange for permanent residency.
Individuals must spend at least $1,800,000 in a business venture or $900,000 if they invest in designated high-unemployment or rural areas to qualify for this visa.
Form I-829, on the other hand, is filled when all of the EB-5 requirements have been met.
On that note, here are a couple of situations in which you should file an I-829 and the best ways to do it.
What is Form I-829?
Form I-829 is a petition filed at the end of the EB-5 visa application.
The purpose of this form is to prove to the United States Citizenship and Immigration Services (USCIS) that you have satisfied the requirements of the EB-5 Program and the plan in petition I-526 has been realized.
One of the EB-5 visa application stages is to file Form I-485, which grants conditional residency.
You remove the conditions by filling the form I-829, meaning If your petition is accepted, your conditional residence is lifted, allowing you, your spouse, and your unmarried children under 21 to live permanently in the United States.
However, While USCIS reviews your I-829 petition, they extend your conditional residency.
Form I-829 petition Best Practices
Investing a bulk of money in the EB-5 visa program is not enough.
You still need to do some work to make sure the process is successful, especially when it is time for you to submit the I-829 petition form.
Your organization and conduct when filing this form will greatly affect the swiftness and success of the petition
Walk Closely with Regional Centers and Developers
You need to collaborate with the project developers, lawyers, and regional centers because you need them to keep track of essential parameters to guarantee a successful I-829 petition.
They must keep track of everything they do with the investment money including the hard and soft expenses and the operating income data.
They must also keep tabs on all direct and indirect employment produced by the project.
In addition, ensuring that receipts and documentation of expenditures, such as invoices and other proof of payment, are kept is equally very key. As soon as the project or the building begins, developers must start keeping track of this.
Have all required Documents Ready
It’s critical to have all of your criteria in order to make the procedure go more quickly and smoothly.
One of the I-829 petition requirements is proof of lawful conditional permanent residency or green card.
This requirement is vital to the process because it is the first needed before you start filing the petition.
The United States Citizenship and Immigration Services requires copies of your conditional resident card, as well as that of all your family members included in the process.
Another prerequisite is proof of the business enterprise you invested in.
This should include the federal tax returns of the business. You would also need to provide evidence that you indeed invested the capital.
Another requirement is to show evidence that the business you established was sustained during the two years of your conditional residency.
To verify this, you’ll need invoices, business licenses, federal and state tax returns, existing contracts, and quarterly tax statements, to name a few.
Proof of the jobs created by your commercial enterprise is another prerequisite, requiring you to show payroll records and other appropriate tax papers.
Following that, you will be needed to submit to a biometric examination. The USCIS obtains your fingerprints, signature, and pictures for this requirement to make identifying you later simpler.
Last but not least, you’ll be required to present relevant legal documents that show if you have a criminal history.
Make Sure You’re Fully Informed
When filling out Form I-829, you should know what to expect. To do this, you need to do a lot of research and have all the necessary information.
For example, you could go to the USCIS website for information and proper guidance.
However, you might not find all the information you need on the USCIS website. This is where hiring an expert comes in.
You need to hire an individual or a team that is familiar with the process and strategies for a successful application. It will also be an added advantage if the expert or experts you hire are lawyers or have a lawyer on the team.