Form I-829, Petition by Investor to Remove Conditions on Permanent Resident Status is filed by EB-5 investors to remove the conditions on their two (2) year green cards. The investors obtained the conditional green cards through their investment in a new commercial enterprise. Filing the Form I-829 is a crucial step in the EB-5 investor’s immigration process as once approved it allows the investors, along with their spouses and unmarried children under twenty-one (21), to achieve permanent residency in the United States. In this article, we explore the I-829 Form in detail, covering its purpose, eligibility requirements, necessary documents, filing timeline, common challenges, and practical tips for a successful submission.

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Overview of the I-829 Form

Due to the conditional nature of the EB-5 investors’ permanent resident status, between 21 – 24 months after receiving the conditional green card, the EB-5 investors have to file an I-829 EB5 Form with USCIS to remove the condition on their permanent resident status. The EB-5 investors provide documentation to demonstrate they fulfilled the program’s requirements, including proof they sustained their investment and created the required number of jobs. The I-829 form is the final step in the EB-5 investors’ immigration process, and once approved investors become unconditional permanent residents of the United States.

Conditions for Removing Conditional Status

To successfully remove the conditions on the green card, the following requirements must be met:

1. ‍Invested Capital: The EB-5 investor must show they have invested or are actively in the process of investing the required capital; and the capital was made available to the business(es) most closely responsible for job creation.‍
2. Sustained Investment: The EB-5 investors must show they have sustained their investment in the new commercial enterprise for two (2) years from the time their investment was made available to the entity most closely responsible for creating the jobs. ‍
3. Job Creation: The EB-5 investors must also show at least ten (10) full time positions for qualifying employees have been directly or indirectly created or will be created within a reasonable time. In the case of a troubled business, the EB-5 investors must submit evidence showing the number of existing employees were maintained at no less than the pre-investment level during the period of the EB-5 investors’ conditional permanent residence.

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Specific Information and Documents Required

When filing Form I-829, the EB-5 investor needs to provide a variety of documents to support their petition, including:

• ‍Investment Evidence: Proof that the EB-5 investors’ capital contribution has been invested and sustained which may include but is not limited to: financial statements, bank statement, contracts, federal or state income tax returns.‍
• Job Creation Documentation: The evidence needed to prove job creation is determined by the type of investment, direct or through a regional center.
  • The documentation for jobs created indirectly as a result of an investment in a regional center may include, but is not limited to: tax and financial statements, expenditure and revenue reports, construction draws, invoices and receipts, bank statements, quarterly reports etc. In addition, at the I-829 stage, an Economic Impact Report is generally commissioned to evaluate the actual number of jobs created from the construction and operation of the Project selected by the EB-5 investors. This report is generated based on the actual EB-5 eligible costs spent on the Project, as well as the actual revenue generated by the Project. This report is different than the initial Economic Impact Report provided to USCIS with the Form I-956F, Application for Approval of an Investment in a Commercial Enterprise filing as the inputs for calculating the jobs are no longer projections, but actual costs incurred during development of the Project and actual revenue generated during the second or third year of the Project’s operation.
  • The documentation of jobs created directly by the new commercial enterprise may include but is not limited to: payroll records, W-2s, employer’s quarterly federal tax returns, Forms I-9s, identification documents of the direct employees or any other evidence showing the required jobs were created or preserved.
• ‍Personal Information: Identification documents, such as copies of the applicant’s passport, green card, and any previous immigration documentation.

Timeline for Filing the I-829 Form

The I-829 form must be file within the 90-day period immediately before the second anniversary of the EB-5 investor’s admission as a conditional permanent resident. Filing early or late may result in complications or even the termination of the EB-5 investor’s conditional permanent resident status, so it is critical to adhere to this timeline.

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I-829 Processing Time

The processing time for Form I-829 is listed on USCIS website. During this period, USCIS reviews the I-829 petition, request additional evidence, if necessary, and eventually reach a decision. It is important to note that while the EB-5 investor’s I-829 petition is pending, the conditional permanent residency status is automatically extended for the period indicated on the EB-5 investor’s filing receipt. After filing the I-829 Petition, the EB-5 investor receives a filing receipt notice from USCIS, which should accompany their expired green card.

Common Challenges and Practical Tips

Filing Form I-829 can be complex, and applicants may face several challenges, including:

• ‍Incomplete or Inconsistent Documentation: Ensure that all required documents are complete, accurate, and consistent throughout the petition.‍
• Prove Job Creation: Demonstrating the investment has created or preserved ten full-time jobs can be challenging, especially in projects that face delays or other complications. The EB-5 investor who select to invest in one of Peachtree Group’s projects should be assured that all the project related documents necessary for their Form I-829 filing are collected, reviewed and assembled into an I-829 Template by Peachtree. The I-829 Template will be provided to our EB-5 investors well in advance of their 90-day filing window. ‍
• Meet the Filing Deadline: Missing the 90-day filing window jeopardizes the chances of removing the conditions on the green card.

Practical Tips for a Successful Submission

• ‍Start Early: EB-5 investor should begin gathering the necessary documentation well in advance of the filing deadline to ensure that everything is in order.‍
• Consult with Experts: EB-5investors should work with their immigration attorneys and consultants experienced in the EB-5 process to prepare their petition and provide guidance. If you don’t have an immigration attorney, Peachtree Group can recommend several that have collaborated with us in the past. ‍
• Double-Check All Information: Review form and documents for accuracy and consistency before these are submitted to USCIS.‍
• Stay Informed: Keep up to date with any changes in immigration laws or USCIS policies that could affect the petition.

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Frequently Asked Questions

What is the I-829 Form?

The I-829 Form is a petition filed by EB-5 investors to remove the conditions on their permanent resident status. It is the final step in the EB-5 process, allowing investors to obtain an unconditional green card if the EB-5 Program's requirements are met.

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How Do I Fill Out the I-829 Form?

To fill out the I-829 Form, the EB-5 investors must provide personal information, details about their investment, and evidence they have sustained the investment and created the required number of jobs. The I-829 Filing is a voluminous filing, containing numerous exhibits which generally include financial statements, tax returns and bank statements for numerous years, as well as constructions draws, expenditure reports, revenue repots and a job creation analysis, encompassing thousands of pages of supporting documents.

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Why Do You Need to Fill Out the I-829 Form?

Filling out the I-829 form is necessary to remove the conditions on the EB-5 investor’s green card. if this petition is not filed, the conditional resident status will expire, and the investor will lose the ability to become a permanent resident of the United States.

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What Happens After the I-829 Form is Approved?

Once the I-829 Form is approved, the EB-5 investor, their spouse, and their unmarried children under 21 become permanent resident of the United States of America. This status grants EB-5 investors many rights and privileges, including the ability to live and work in the United States, to own property, attend public school and colleges, and be protected by the laws of the United State and of the State where the EB-5 investors reside.

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Additional Resources

For more information about the I-829 Form and the EB-5 Immigrant Investor Program, consider consulting the following resources:

• ‍USCIS Website: Access official forms, instructions, and updates on processing times.
• A Simple Guide to EB-5 Immigration by Investment‍
• Immigration Attorneys: Seek legal advice from professionals specializing in EB-5 cases. If you are not familiar with an immigration attorney, contact Peachtree Group, our team can give you contact information for several knowledgeable lawyers.‍
• Contact Peachtree Group: Contact Peachtree Group for guidance on specific investment opportunities and compliance requirements.

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Taking the Next Steps with Peachtree

Begin your journey to U.S. residency with an EB-5 investment.

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