All applicants and their direct family members who are investing for a green card via the EB-5 program are subject to a "conditional" permanent residency for two years after USCIS approval. 90-days or less prior to the second anniversary of the foreigner's granting of permanent resident status, a petition to remove these "conditions" must be submitted. This business will be inspected by the INS and to assure the investment meets all necessary requirements.
The aforementioned petition to be submitted to the INS should also include: Proof the investor's established new endeavor; i.e. articles of incorporation, any business licenses, proof the required investment was transferred when purchasing the existing business endeavor.
Documents showing the required amount of capital for the investment is proven at risk, i.e. bank statements which relay the money as deposited to a business-use account, proof any items, such as equipment, was purchased for purposes of the business, proof any transfer of funds is for the business in exchange for stock options, which cannot include redemption agreements at the stock holder's request.
Proof any capital to be used for EB-5 investment purposes was legally acquired, i.e. foreign business licenses, tax paperwork, or signed copies of criminal or civil judgments if applicable.
Proof the business venture invested in for the EB-5 program did create 10 full-time positions, i.e. tax paperwork, Forms I-9, or a business plan which specifically addresses how 10 positions will be filled in 2 years or less. If the business to be invested in is currently operating but is troubled, the applicant must show how at least 10 positions will be maintained for the 2 years.
Proof the investor will at the minimum be involved with management of the venture, i.e. documentation he or she will be active on the board of directors. If the venture follows a limited partner structure, the investor should be granted all management benefits described by the Uniform Limited Partnership Act, including rights, powers, and duties. The investor will receive a permanent residence status with no conditions after two years if all requirements are met. During the two year residence the foreign investor must prove he or she "sustained the actions required for removal of conditions."
If the capital business investment requirement is "substantially met" and maintained for the two year conditional period, the investor has completed financial requirements. If at any point during the 2 year conditional period the business is not found to be functional, or the investment is proven to be fraudulent, the investor's residence will be terminated.
When attempting to apply for removal of conditions, if the investor can prove the business was established and 10 full-time positions were created or maintained, all conditions will be removed and the investor and family will be issued permanent Green Cards.