Understanding the I-829 Form: Key Information for EB-5 Investors

The I-829 form is a crucial part of the EB-5 Immigrant Investor Program process, marking the next step after obtaining a conditional green card. Understanding the purpose and requirements of the I-829 petition is essential for foreign nationals who want to remove the conditions on their U.S. permanent residency and secure their place in the United States for the long term.

In this article, we will explore the I-829 form, its significance, and the process involved in filing it to transition from a conditional green card to a permanent green card.

What is the I-829 Form?

The I-829 is a petition form filed with U.S. Citizenship and Immigration Services (USCIS) by EB-5 investors who are seeking to remove the conditions on their two-year conditional permanent residency. After obtaining a conditional green card through the EB-5 program, investors must submit the I-829 form to demonstrate that they have met the program's requirements during their conditional residency period.

The primary goal of the I-829 petition is to prove that the investor’s EB-5 investment has created the required 10 full-time jobs for U.S. workers and that the investment has been maintained in a lawful and compliant manner.

When Should the I-829 Form Be Filed?

The I-829 form must be filed during the last 90 days of the two-year conditional residency period, which begins after the investor and their immediate family members (spouse and children under 21) are granted conditional permanent residency.

Failure to file the I-829 petition within this timeframe can result in the loss of conditional residency status, which may lead to deportation or denial of further immigration benefits.

It is critical that investors and their legal teams prepare the I-829 filing well in advance of the expiration of the two-year conditional status to avoid delays or complications.

Requirements for Filing the I-829 Form

When filing the I-829 form, the EB-5 investor must meet specific requirements to demonstrate that they have complied with the EB-5 program’s conditions. These include:

1. Job Creation: The EB-5 program requires that the investor’s capital investment create at least 10 full-time jobs for U.S. workers within two years of receiving conditional residency. The I-829 petition must include evidence proving that the jobs were created and sustained for the required period. For regional center investments, job creation is typically measured based on indirect jobs created by the project.

   
   

2. Maintaining the Investment: The investor must show that the $800,000 or $1.05 million investment has been maintained and at risk throughout the two-year period. The I-829 petition should provide evidence that the capital has not been withdrawn, repaid, or guaranteed.

   
   

3. Compliance with EB-5 Requirements: The petition must also demonstrate that the investment was made in a qualified U.S. business that meets the EB-5 program's criteria. This includes submitting documentation showing that the investment funds were legally obtained and that all requirements of the EB-5 program were adhered to during the conditional residency period.

   
   

4. Supporting Documentation: The I-829 form must be accompanied by supporting evidence, such as:

   1. Financial records showing that the investment was maintained.

   2. Job creation documentation, including payroll records, tax filings, and other records demonstrating that 10 full-time jobs were created.

   3. Project progress reports and other records that show the investment has been used as intended and in compliance with EB-5 regulations.

      
      

Why is the I-829 Form Important?

The I-829 petition is critical because it determines whether the investor’s conditional green card will be converted into a permanent green card. If USCIS approves the I-829 petition, the investor and their family members will be granted permanent residency in the U.S. without conditions.

However, if USCIS denies the I-829 petition, the investor’s conditional green card may be revoked, and they could lose their lawful permanent resident status, which could result in deportation. Therefore, filing the I-829 is a crucial step in securing long-term residency and eventually U.S. citizenship through the EB-5 program.

The Process of Filing the I-829 Form

1. Preparation: Before filing the I-829 form, the investor must ensure that all necessary documentation is collected to support their petition. This includes gathering records showing the ongoing investment, job creation, and proof of compliance with EB-5 requirements.

2. Filing the Petition: The I-829 form is filed with USCIS, along with all required supporting documentation. It is essential to ensure that the form is complete, accurate, and includes all necessary evidence to avoid delays or requests for additional information.

3. USCIS Processing and Approval: Once the petition is filed, USCIS will review the I-829 petition and supporting documents. The processing time for I-829 petitions can range from 12 to 24 months, depending on the complexity of the case and USCIS workload.

4. During the processing period, investors and their families are typically allowed to remain in the U.S. while their petition is pending. They may also be eligible for an extension of their conditional residency status if the petition is delayed.

5. Approval and Permanent Residency: If USCIS approves the I-829 petition, the investor and their family members will have the conditions removed from their green cards, granting them permanent resident status. This is a significant milestone in the EB-5 process.

6. Denial and Appeals: In rare cases, USCIS may deny the I-829 petition if the investor fails to meet the job creation or investment requirements. If this happens, the investor may appeal the decision or seek another legal remedy, such as reapplying or addressing deficiencies in the petition.

   
   

Challenges in Filing the I-829 Form

Filing the I-829 petition can be complex, and investors may face several challenges along the way:

• Job Creation Documentation: The most common reason for denial is failure to prove that the investment has created the required 10 full-time jobs. Accurate and thorough documentation of job creation is essential.

• Evidence of Investment Maintenance: If the investor cannot provide sufficient proof that their investment has been maintained and "at risk," USCIS may deny the petition.

• Delays in Regional Center Projects: For investors in regional center projects, delays in project development or job creation may cause complications in proving compliance with the EB-5 requirements.

• Changing Regulations: The EB-5 program is subject to periodic regulatory changes, which may impact the filing process. Investors need to stay informed about any updates to ensure their petitions comply with current laws.

Conclusion

The I-829 form is the key to removing the conditions on an EB-5 investor’s green card, allowing them to achieve permanent residency status in the United States. Filing the I-829 petition requires careful preparation, documentation, and a thorough understanding of the EB-5 program’s requirements, particularly related to job creation and the ongoing investment.

To ensure a smooth filing process and increase the likelihood of approval, it is essential for EB-5 investors to work with experienced immigration attorneys and financial professionals. Proper guidance and attention to detail during the conditional residency period can significantly enhance the chances of a successful I-829 petition, leading to permanent residency and eventually U.S. citizenship.

Contact our team at EB-5 Choice today if you have any further questions.