Diamond USA Canada Visa Group

Diamond Group Investment

USA Canada

**All dates are estimated and are dependent on the Investor’s submission of necessary documentation for the filing of the I-526 and I-829 Petitions and on USCIS’s review of said applications.**

****Investor to execute a profile’s document and Consultation Fee Agreement with DUCVG.

+++Investor to execute Professional Fee Agreement with legal counsel and NES Financial.

A term used by the Securities and Exchange Commission (SEC) under Regulation D to refer to investors who are financially sophisticated and have a reduced need for the protection provided by certain government filings. Accredited investors include individuals, banks, insurance companies, employee benefit plans, and trusts.

In order for an individual to qualify as an accredited investor, he or she must accomplish at least one of the following:

1) earn an individual income of more than $200,000 per year, or a joint income of $300,000, in each of the last two years and expect to reasonably maintain the same level of income.

2) have a net worth exceeding $1 million, either individually or jointly with his or her spouse.

3) be a general partner, executive officer, director or a related combination thereof for the issuer of a security being offered.

These investors are considered to be fully functional without all the restrictions of the SEC.

An employee benefit plan or a trust can be qualified as accredit investors is total assets are in excess of $5 million.

Conditional Residency – I-526

An application for immigrant investor status is conducted through the completion and filing of a form called an I-526, Immigrant Petition by Alien Entrepreneur. Included in this filing are: extensive documentation recognizing the regional center or other commercial investment, the form I-526, and supporting documents, which are then submitted to the USCIS for review.

After submission of the file, three possible results may occur. Should the petition be approved, the investor and his family can then progress with filing with the embassy or consulate in their home country or with filing an adjustment of status if they are lawfully in the United States. If the application is questionable, the USCIS may issue a Request for Further Evidence (RFE) in which the investor will be required to submit further explanations and either an approval or a denial of the application will be issued. If the application is patently erroneous, it may be denied from the beginning.

Conditional residency, following consular proceedings or adjustment proceedings in the U.S., confers a two year conditional residency on the investor and the investor’s family. We like to say that it is akin to ‘marrying’ the USA and seeing if the parties like each other!

NOTE that the key to the lifting of the conditional residency will be the regional center sponsor job creation program which will demonstrate and prove the creation of ten direct and indirect employment positions filled by US employees.

Lifting of the Conditional Residency – I-526

Prior to the end of the two year conditional residency period, the investor must submit a form I-829 for the lifting of the conditional status. The primary purpose of this petition is to demonstrate that the requisite ten jobs have been created, both directly and indirectly.

NOTE that this initial two year period will count toward the five year residency period necessary for U.S. citizenship, should the bona fide residency requirements be met. Thus, it is essential that new investors ensure that they remain in the U.S. no less than six months per year in order to ultimately qualify for citizenship and to prevent re-entry problems at the border. It is highly recommended to maintain a log of entries and exits from the U.S.

The lifting of the conditional status will not require further evidence of source of funds. Rather, it will be necessary to demonstrate that the proposed project is either under development or is imminent. The government, in its review, does maintain some flexibility in this regard.

The decision to approve or deny an I-829 application may take several months. During this time, the investor will be deemed to be in status, so long as the application for lifting is submitted between the 21st and 24th month, after issuance of the initial conditional residency. It is essential that a receipt from USCIS is received prior to the expiration date to ensure a timely filing.

Adjustment of Status

Some EB-5 investors who are in lawful non-immigrant status will elect to remain in the United States and conclude their process while there. As such, along with the approval of the I-526, the investor will file the adjustment of status, an application for work authorization, and an advanced parole application to allow for foreign travel, while the case is pending with USCIS for a six-month duration. This process is repeated simultaneously for the investor’s dependents.

An adjustment of status may culminate in an interview at the USCIS office where the investor non-immigrant is residing. Occasionally, there may not be an interview. Nonetheless, the investor will receive a ‘welcome notice’ by mail assuring the investor that he or she has been approved.

NOTE that individual ‘welcome’ letters are sent to each and every family member including the minor dependents as a separate file, known as an “A” or ‘alien’ file.

In matters where the family may be separated due to circumstances, the principal investor must first be conferred with conditional residency. The dependents may then apply as ‘follow to join’ relatives. Although this process can be accomplished in the consulate or embassy in the home country, it is a long and tedious process to follow.

Accredited Investors