What is the first step in the EB-5 Program application process?

The first important step is to have a consultation with an experienced EB-5 immigration attorney. He or she will review your specific situation and discuss whether you qualify for the EB-5 program or if there may be other more viable options for you. If EB-5 is the best option for you, then hiring an attorney will ensure your I-526 petition is competently prepared. You may also hire a due diligence specialist to review Regional Center projects and choose which one you should invest in.

Advisably, it is better to start with consulting an EB-5 attorney. This will make the learning curve a lot shorter and easier. Also, you will get information a lot faster on issues such as rules and regulations governing EB-5, costs, filing procedures, the requirements that investors need to comply with and the necessary documentation process.

The first step in the EB-5 process is putting together the source of funds. After that, you should speak to an immigration attorney to find out if you qualify for the Program.

In my book, the first step is to hire a reputable, experienced lawyer and then find a due diligence specialist to help you select a project. By the way, two bills are being introduced, one to increase the minimum investment to $800,000 and another to introduce it to $925,000. I think one of these bills will pass in the next 30-60 days.

In terms of where you start with the EB-5 program, you would start by selecting the appropriate party to represent you. I would suggest an immigration attorney, preferably Board Certified, who has a significant number of years of practicing not only United States immigration law but also representing EB-5 investors. While the attorney cannot per se make suggestions as to what is a "good investment," he can steer you to a number of reputable EB-5 Regional Centers where the project developer has a good history of repaying investors and a record of success. You can also go online and read about different EB-5 projects being marketed by different EB-5 Regional Centers but, in the end, you need competent and experienced legal representation.

Start by speaking to an immigration attorney. The attorney will be able to review your situation and to determine if EB-5 is the best and easiest option for you. The attorney will also explain all the steps of the program and the documents that you will need to collect. You do not need to have any documents for the initial meeting with an attorney. After you engage an attorney, you can begin to meet with different Regional Centers in order to begin selecting a project.

A good place to start is by speaking with an immigration attorney to determine if EB-5 is the best option for you. The attorney will be able to discuss with you all the different options that may be available to you and, in most cases, EB-5 may not be the best option.