Within 90 days of the 2-year conditional green card’s expiration date, the investor must file Form I-829, “Petition by Entrepreneur to Remove the Conditions” to request removal of conditional permanent residency along with the $3,835 filing fee. This must be filed with the California Service Center. Spouses & children of the EB-5 immigrant investor who are also conditional permanent residents may be included in the same application, but will need to submit a separate $85 biometrics fee, each. Determination of the removal of conditions on the green card will be made within 90 days of filing or interview, whichever is later. The petition will be granted if the investor has fulfilled the EB-5 requirements in accordance with the business plan in the approved Form I-526 petition. Failure to file Form I-829 will result in automatic termination of the conditional resident’s status and will initiate deportation proceedings.

Immigrant investors remain in “valid” status while their I-829 petition is pending. Their status is supposed to be extended automatically in one year increments until USCIS acts on the petition. During that time, investors are authorized to travel.

Once conditions have been removed, a full green card is granted for indefinite permanent resident status in the United States. After four years and nine months (90 days before the fifth anniversary of their permanent resident status) of permanent residency (including the two conditional years), an investor may apply for U.S. citizenship, provided that they meet all other requirements for naturalization. Please see our firm’s page on naturalization here for more information.

The petitioner of Form I-829 must show:
New Commercial Enterprise
1. Evidence that you created a new commercial enterprise by submitting copies of the business’s organizational documents, federal tax returns, etc.
2. Evidence that you have invested the total amount of required funds
3. Evidence that you have sustained your investment in the new commercial enterprise throughout your two-year period of conditional permanent residency by submitting: business invoices and receipts, bank statements, contracts, copies of federal or state income tax returns, quarterly tax statements, audited financial statements, contacts, business licenses, or any similar evidence.
4. Evidence documenting the number of full-time employees at the beginning of your investment and at present by submitting employee tax form I-9, other tax documents, payroll records, etc. This requirement is to show that the enterprise created 10 full time jobs within 13 months of the I-526 approval.

Troubled Business
Those who invest in a troubled business must submit the same evidence listed above under the New Enterprise Commercial category except the investor must prove that at least 10 existing jobs were maintained as opposed to created. A troubled business is defined as “an enterprise that has been in existence for at least two years and has incurred a net loss during the 12- or 24-month period prior to the priority date on the immigrant investor’s Form I-526. The loss for this period must be at least 20 percent of the troubled business’ net worth prior to the loss”. (USCIS)

Regional Center
Those who invest in a regional center must also submit the same evidence listed under the New Commercial Enterprise category, except that a regional center case must show that a capital investment was made in accordance with its business plan in order to be credited with the creation of direct and indirect 10 jobs.This may be demonstrated by providing evidence that the project detailed in the I-526 application was executed.