Achieving American residency is the goal of many international investors seeking to establish their home in the United States.
The United States government offers this opportunity through the EB-5 program, an initiative that promotes foreign investment in the country and provides a direct pathway to permanent residency for investors and their immediate family members.
When applying for the EB-5 program, it is crucial to invest in a project that meets the requirements set by the United States Citizenship and Immigration Services (USCIS).
In this opportunity, we will explore how an innovative development like Smart Brickell can lead investors to American residency by aligning with the goals of the EB-5 program.
Why Choose Smart Brickell?
Smart Brickell is a prime choice for investors interested in the EB-5 program, as this real estate project has the capacity to meet and exceed the economic impact and job creation criteria necessary to qualify.
This project is designed to enhance the value and profitability of Miami’s financial district: Brickell, promoting economic growth in the region as a development under construction.
With one of its three towers completed and operational, and two towers under construction with few units available, Smart Brickell is included among the real estate projects that meet the requirements of the EB-5 program.
How Smart Brickell Meets the Requirements of the EB-5 Program?
The key requirements of the EB-5 program for investors to achieve American residency are two-fold: the minimum required investment and job creation through the project in which they invest.
Regarding the minimum required investment, the EB-5 program requires an investment that varies depending on the location of the project, with a lower amount when investing in Targeted Employment Areas (TEA), areas that are not fully developed, or have a higher unemployment rate.
Smart Brickell is located in a TEA zone in Miami and still has units available for investment, allowing investors to be part of this innovative real estate development.
On the other hand, the EB-5 program requires the creation of at least 10 full-time jobs per foreign investor. These jobs must be direct, meaning identifiable and concrete jobs within the project in which the investment is made.
To meet this requirement, Smart Brickell generates direct jobs in various areas: from builders, engineers, and architects during the construction phase, to designers, administrators, and maintenance staff upon completion of the construction.
How Smart Brickell Leads to American Residency?
Smart Brickell offers a clear and structured path to obtaining American residency through the EB-5 program. These are the steps for investors to achieve their immigration goals through this project.
Make the Minimum Required Investment
By choosing Habitat Group as your partner, you must make an investment of $1,050,000, which will be used for the development of Smart Brickell. Additionally, it must be demonstrated that this capital is at risk, meaning there is a real possibility of loss and gain, and that the funds are of legal origin.
Submit the I-526 Petition
After making the investment, the next step is to submit the I-526 petition to USCIS. This form demonstrates that the investment has been made and that at least 10 full-time jobs for American workers are being created or will be created.
It is important to note that if you choose Habitat Group as your partner and invest in Smart Brickell, you will not be charged additional administrative fees or document filing fees to USCIS.
USCIS Verification
After the investment is made and the I-526 petition, along with the documentation, is submitted, the USCIS verification process begins.
The processing time for this petition can last approximately between 12 and 18 months, during which all requirements of the EB-5 program will be reviewed, including the legality of the invested funds, the viability of the business plan, and Smart Brickell’s ability to create the necessary jobs.
Once the I-526 petition is approved, if the investor is in the United States, they can apply to adjust their status to conditional permanent resident.
Obtaining the Conditional Green Card
Once the I-526 petition is approved and the status adjustment process is completed, the investor and their family receive the Conditional Green Card. This can take between 6 and 12 months, but allows beneficiaries to legally reside in the United States.
Permanent Residency
Before the Conditional Green Card expires, the I-829 petition must be submitted, necessary to remove the conditions and obtain the permanent Green Card.
This document demonstrates that Smart Brickell’s development managed to meet all the requirements of the program, especially those related to job creation.
In conclusion, investing in Smart Brickell under the EB-5 program is an effective vehicle to secure residency in the United States.
This process requires patience and an understanding of legal and temporal requirements, but with proper guidance and a solid investment, the pathways to American residency are well-paved.