For Foreign Investors
The Immigrant Investor Program, also known as EB-5, was created by Congress in 1990. The intent of the program is to stimulate job creation and capital investment by foreign investors. The EB-5 program is administered by the United States Citizenship and Immigration Service (USCIS).
Why MAG Ventures?
MAG Ventures offers investors unique access to partners in the Public/Private sector. These partnerships provide the investor with a variety of strong projects and the ability to choose the right investment for their portfolio.
Generally, foreign nationals seeking to make EB-5 investments may have to meet the following criteria:
1. Be “Accredited Investors” based on net worth or income (SEC definition: here).
2. Demonstrate that funds being invested are from a legal and lawful source.
3. Meet US Government requirements for Conditional Permanent Residency and Permanent Residency.
The application process generally takes the following steps:
Step 1: File Form I-526 petition and other supporting documentation regarding EB-5 investment
Step 2: Upon approval of I-526, file Form I-485 (Application to Register Permanent Residence or Adjust Status) or DS-230 (Application for Immigrant Visa and Alien Registration) to obtain EB-5 visa for US admission. Upon approval of I-485 or DS-230, EB-5 investor (and dependents) granted Conditional Permanent Residence for a two-year period
Step 3: File Form I-829 (Petition by Entrepreneur to Remove Conditions) 90 days prior to the two-year anniversary of the granting of the EB-5 investor's conditional resident status
MAG Ventures will help guide immigrant investors through the EB-5 process. Below are the primary steps of the investment process:
Step 1: Potential immigrant investor provides information to MAG Ventures to begin review of eligibility.
Step 2: MAG Ventures conducts preliminary review information.
Step 3: Potential investor submits Pre-Qualification survey to MAG Ventures.
Step 4: Following a brief waiting period, if applicable, the potential investor will be sent all applicable project documents, including:
- Private Placement Memorandum
- Operating Agreement
- Subscription Agreement
- Escrow Agreement
- Subscriber Worksheet
- Business Plan
- Additional Background Requests, if necessary.
Step 5: Potential immigrant investor executes project documents and provided additional background information, as necessary, and submits to MAG Ventures.
Step 6: MAG Ventures provides banking information to allow potential investor to wire escrow and administrative fees. Fees are wired by investor and confirmed by MAG Ventures and bank.
Step 7: Investor's attorney prepares and files I-526 application with USCIS.
Step 8: USCIS approves form I-526.
Step 9: Investor funds are released from escrow to the project.
Step 10: Investor (and family) meet with US Consulate in home country for interview and background check. (If investor is already in the U.S., he will instead apply for status adjustment using form I-485.)
Step 11: US Consulate process document.
Step 12: Investor (and family) may enter US and will receive a Conditional Green Card via mail.
Step 13: Three (3) months prior to expiration of Conditional Green Card, the investor’s attorney will fill an I-829 petition with USCIS to remove conditions from the conditional Green Card. At this point, the investor’s attorney will demonstrate the number of jobs created through the investment based on information supplied by MAG Ventures.
Step 14: Following USCIS approval of the I-829 petition, the investor (and family) will be issued a Permanent Resident Card.
Step 15: After all I-829 for project have been approved and according to project offering documents, investors may choose to sell interest in project at fair market value.