For years, the E-2 investor visa represented a realistic option to live and work in the U.S. for many years. An active, profitable business that employed several U.S. workers was basically sure to be approved for E-2 registration.

While it is still possible to obtain an E-2 investor visa at U.S. consulates, the adjudication criteria for first-time visa applications as well as for renewals have drastically changed (even though there was no change in the E-2 regulations).

While two to three years ago a $100,000 investment, or even less, in an active U.S. business that employed 2-3 workers easily passed the "marginality" test, this is no longer so, not even if the business is quite profitable. Today, the investment should be in the $200,000+ range, the business should employ at least 5 workers, and the applicant must be able to prove "non-immigrant intent". (While the E-2 visa regulations do not require that investors maintain a residence in the home country, the consulate may well consider the sale of your house in your home country  a proof of "immigrant intent"). Moreover, any indication that the investor is retired, looking to retire, or will not play an active role in the daily management of the U.S. business may well result in denial.

Repeat visa renewals face ever increasing scrutiny, not only because the consulate expects the investor to train a U.S. replacement for him-/herself, but also because the investor's wish to continue to direct the U.S. business may be misinterpreted as "immigrant intent". For many investors, the E-2 visa route remains the most accessible opportunity to live and work in the U.S., however, applicants should be aware of and knowledgeable about the possibilities and limitations of this visa.

For investors who have the financial means to consider an investment of $500,000 in the U.S., and who wish to immigrate permanently, the EB-5 "regional center" investor green card option is the more ideal solution. Citizenship and Immigration Services (CIS) has approved a number of "regional centers", located throughout the U.S in targeted development areas with higher than average unemployment, to qualify foreign investors for permanent residence, if they invest $500,000 through the Limited Partnerships that administer the various programs.

Some of these "regional centers" are exceedingly more active and successful than others, and have a track record of 100% green card approval rate for their investors. Investors who consider the investor green card option need to know the track record of the various programs, and who has successfully prepared and submitted EB-5 petitions with CIS on behalf of foreign clients.

The EB-5 investor green card option is rapidly becoming very popular not only because the E-2 investor visa option has become so difficult, but because the person is not burdened with the daily management of the business and due to the very favorable exchange rate against the U.S. dollar makes it easier to make such an investment.

The major requirement on behalf of the investor is that he/she can clearly document that the investment funds were obtained legally, for instance from savings from a working career, sale of property, inheritance, or by any other legal means. After the investor, upon advice of an immigration attorney, has opted for an investment center, he/she should obtain a due diligence report about the "regional center" from a competent, independent accountant.

CIS processing of the initial petition takes about 3-5 months. If the petitioner is in the U.S. with a non-immigrant visa, the investor and his/her family may apply for their adjustment of status in the U.S. after the initial petition is approved. If the petitioner is outside the U.S., then he or she must apply for an immigrant visa through consular processing in the investor's home country.

The initial green card will be issued on a two-year, conditional basis. At the end of the two-year conditional period, another petition will have to be submitted to CIS to remove the condition from the permanent residence. In order to qualify for the permanent green card, both the "regional center" and the investor need to continue to qualify. The funds must still be invested, and the regional center must accomplish the required job creation.

The EB-5 "regional center" immigrant investor green card option gives investors peace of mind in the sense that they know that their investment is made in a reliable, government approved program, and that obtaining permanent residence for the immigrant investors is the stated goal of said program. Moreover, after obtaining the conditional and later the permanent green card, the immigrant investors have the freedom to pursue any job or activity of their choice in the U.S., without being constantly obliged to worry about visa renewal issues, or about what options to pursue when their foreign-born children reach the age of 21. Also, under the current property tax system, permanent residents (and conditional permanent residents) qualify for homestead exemption on their property taxes, while E-2 and other long-term visa holders do not qualify.

For foreign investors who wish to spend at least 6 months per year in the U.S. without visa constraints, and who can afford to invest $500,000 into a "regional center" without a guarantee of specific returns on their investment during that time, the EB-5 "regional center" option is an ideal, relatively uncomplicated way to qualify for the coveted green card that confers upon them the right to permanent residence in the U.S., and eventually, if they so wish, the right to apply for U.S. citizenship.