Frequently Asked Questions
What is a regional center?
A regional center is an entity or agency that focuses on a specific geographical area. Regional centers approved and designated by USCIS can count direct and indirect jobs when calculating the 10 jobs required per investor.
What is a targeted employment area?
A targeted employment area or TEA, is a rural area with a population under 20,000 or a geographical area where the unemployment is 150% of the national average.
What is the minimum investment for the Mount Snow projects?
Because the projects are located in a Targeted Employment Area (TEA), the minimum investment is $500,000 USD.
What other fees are required?
A fee of $55,000 that covers administrative, marketing and legal costs is required. This does not include attorney fees required to prepare and submit the petitions.
How many EB-5 Visas are allocated each year for the EB-5 Visa Classification?
The EB-5 program allocates approximately 10,000 visas per year for immigrants and their family whose qualifying investments result in the creation or preservation of at least ten full-time jobs for U.S. workers.
What is the process?
An I-526 petition must be filed with USCIS. Documentation and evidence showing lawful source of funds must be included. Once the I-526 is approved, and a visa is available, the investor, his spouse, and all children under the age of 21 may apply for and be issued conditional green cards. After the required conditional time period has been met, the investor will file an I-829 petition for the removal of conditions. If the investment has remained at risk and the required number of jobs have been created, the investor and his or her family will receive permanent green cards.
Can an investor’s children attend school in the United States during the process?
Yes, children can attend public schools and universities at the resident rate once the conditional green card has been issued.
Can the invested funds be a gift?
Yes, but the person giving the gift must be able to prove the lawful source of the invested funds. There may be other requirements; consult your immigration attorney.
Is the investment guaranteed?
In order to qualify for the EB-5 program the investment must be at risk and cannot be guaranteed.
Does the investor need business experience? Does he or she need to manage the business?
Business experience is not necessary. EB-5 regulations require the investor be involved in management or policy making. That requirement is satisfied for the Mount Snow projects because the investors are a limited partner of the partnership.
Does the investor have to speak English?
No, the ability to speak English is not required.
Does the investor need to be in good health?
Does the investor need to live in the same area as the investment?
No, EB-5 investors can live anywhere in the United States.
Does the investor need to live in the United States?
After receiving the conditional green card, the investor and his/her family is free to travel in and out of the United States subject to the rules of permanent residents. The investor must maintain a residence in the United States and it is recommended that he or she not leave the United States for more than six months at a time.
Can an investor become an American citizen?
Five years after receiving a conditional green card, she or he can apply for citizenship.
Can I visit the project location?
Mount Snow welcomes investors and their families to visit the resort. To arrange a visit, contact us. Mount Snow is located 4 hours from New York City and 2½ hours from Boston. The closest airport is Bradley International Airport in Windsor Locks, Connecticut just outside of Hartford.