EB-5 Investment Immigration: The "Three Dos" and "Three Don’ts" After Obtaining Conditional Permanent Residency
The "Three Dos" and "Three Don’ts" for EB-5 Investors After Obtaining Conditional Permanent Residency
Attorneys:Attorney Jeff Zhengquan Xie,Attorney Jiarui Yin,Attorney Qian Zhao,Attorney Haochun Ling, Xiang Xiao
Undoubtedly, obtaining conditional permanent residency marks a critical milestone for EB-5 investors in their journey to immigrate to the U.S. through investment.
The so-called conditional permanent residency card should actually be referred to as a conditional green card, simply because it is only valid for two years.
Specifically, this conditional green card bears an expiration date. If the cardholder fails to file an application to remove the conditions on the green card before this expiration date, they will lose the right to maintain their permanent resident status.
Once an EB-5 investor’s application to remove conditions is approved, their conditional green card will be converted into a 10-year valid permanent green card.
The only difference between a conditional green card holder and a permanent green card holder lies in the validity period—two years versus ten years. Regardless of the card type, both enjoy identical legal rights and assume the same legal obligations.
However, for the purpose of legal education, the "Three Dos" and "Three Don’ts" outlined herein apply exclusively to conditional permanent residents, specifically those who obtained residency through EB-5 investment.
The Three Dos
1. Do Maintain Ongoing Communication with Your Immigration Attorney and EB-5 Project Operator
Some EB-5 investors entrust immigration intermediaries with full responsibility for both their project investment and immigration application processes. As a result, these investors remain unaware of the project details, contact information, and even the name of their immigration attorney. This situation must be rectified.
We have encountered cases where investors requested our assistance in locating project operators, as they could no longer reach their original intermediaries. Others reported that their immigration intermediaries had "been detained" and were completely unreachable, leaving the investors without any project-related documentation.
There have also been instances where investors did not know who their immigration attorney was and asked us to help identify or locate them.
Maintaining contact with your immigration attorney can greatly facilitate your process of settling and establishing a life in the U.S., as attorneys can provide valuable resources and support.
At the very least, staying in touch with your immigration attorney ensures that you can be reached when it is time to file your application to remove conditions on permanent residency.
2. Do Take Concrete Actions to Establish Residency in the U.S.
After obtaining conditional permanent residency, you need to make arrangements to settle down in the U.S.—for example, renting or purchasing a property, opening a bank account, and purchasing health insurance.
3. Do File Tax Returns
Some may immediately ask: "I just immigrated to the U.S. and don’t even have a job—why am I required to file taxes?"
The answer is yes: even if you have no job or income, obtaining conditional permanent residency makes you a U.S. permanent resident, and every permanent resident is obligated to file tax returns.
Filing a tax return does not equate to paying taxes. Filing is a prerequisite for determining whether any tax payment is due.
Tax filing records are also crucial for future applications for naturalization and family-sponsored immigration.
The Three Don’ts
1. Don’t Request the Return of Your Investment Capital from the EB-5 Project Operator
Obtaining conditional permanent residency does not mean that the 10 jobs required by EB-5 immigration law have been fully created. Seeking the early return of your investment capital may jeopardize the approval of your application to remove conditions on permanent residency.
2. Don’t Participate in Government Elections at Any Level
Although conditional green card holders are permanent residents, they are not allowed to participate in or run for office in federal, state, or local government elections of any kind.
Additionally, male conditional green card holders between the ages of 18 and 25 must register for selective service (military conscription).
3. Don’t Leave the U.S. for Extended Periods
Within the two-year validity period of the conditional green card, cardholders should avoid any single trip outside the U.S. that exceeds 6 months. Otherwise, they may encounter difficulties when re-entering the country through customs.
If you need to reside outside the U.S. for more than one year, you should apply for a re-entry permit before departing the country. Holding a re-entry permit allows you to stay abroad for up to two years.
The above overview is prepared by XIE LAW OFFICES,LLC. to provide legal information to the Chinese community. It is primarily for academic discussion purposes and does not constitute legal advice on specific cases. If you already have legal representation, please consult your own attorney, who is familiar with the details of your case. Clients of Xie & Associates Law Firm, as well as readers who have not yet retained legal counsel, may contact Attorney Xie for specific legal questions. If you wish to reprint this document, please do so in full without any deletions, and clearly indicate the source.
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