It is important to note that a contribution of capital in exchange for a note, bond, convertible debt, obligation, or any other debt arrangement between the alien entrepreneur and the new commercial enterprise does not constitute a contribution of capital.
- The establishment of a new commercial enterprise;
- In which the alien will engage in a managerial or policy making capacity;
- In which the alien has invested or is actively in the process of investing the amount required for the area in which the enterprise is located;
- Which will benefit the U.S. economy; and,
- Which will create full-time employment in the U.S. for at least 10 U.S. citizens, permanent residents, or other immigrants authorized for employment.
- Foreign business registration records;
- Tax returns of any kind filed within the last five years in or outside the United States;
- Other sources of capital;
- Certified copies of any judgment, pending governmental civil or criminal actions, or private civil actions against the petitioner from any court in or outside the United States within the past 15 years.
- Where the source of the capital is from the sale of real estate or a business, copies of the sale contracts and/or deeds will be required.
Step 2: Upon approval of the I-526, the alien files Form I-485, Application to Register Permanent Residence or Adjust Status, if a visa number is available and the individual is in the U.S. If the alien is outside the United States when an immigrant visa number becomes available, he or she will be notified and must complete the process at his or her nearest U.S. consulate office.
Step 3: The alien beneficiary is granted conditional permanent residency for a two-year period. They receive proof of permanent residence, an I-551 stamp, at the port of entry or at the local USCIS office, which is contingent upon whether or not the individual received an immigrant visa abroad or adjusted status in the U.S.
Step 4: Ninety (90) days before the two-year anniversary of being granted conditional permanent residency, the alien entrepreneur must file a Form I-829, Petition by Entrepreneur to Remove Conditions.
If dependents file subsequent to the principal alien filing the I-485, dependents must wail until the principal applicant receives a Form I-797, Notice of Action from the USCIS. Thereafter, dependents must include a copy of the principal applicant’s Form I-797 with their filings. The principal’s Notice of Action will facilitate matching dependent’s subsequent filings with principal’s file, thereby reducing the chances of delays in the file routing.
Note: Petitioner’s spouse and children may be included in the petition to remove conditions.