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Residence by Investment in Long Island City primarily refers to the federal EB-5 Immigrant Investor Program. This program allows eligible foreign nationals to obtain conditional permanent residence by investing in a new commercial enterprise and creating or preserving at least 10 full-time jobs for U.S. workers.
Long Island City, as part of New York City, can host EB-5 funded projects in real estate, hospitality, and other sectors. The local area does not have separate EB-5 laws, but the TEA and job creation criteria are applied to investments in LIC projects just as they are nationwide. A licensed attorney or solicitor in LIC can help coordinate project structure, compliance filings, and status adjustments.
The EB-5 process involves filing forms with U.S. Citizenship and Immigration Services (USCIS), obtaining conditional permanent residence, and later filing to remove conditions on residency. Investors must demonstrate lawful source of funds and meet the required investment thresholds and job creation standards. Local real estate and development timelines in LIC can influence project milestones and evidence of job creation.
Key steps include filing the I-526 petition, obtaining conditional permanent residence through either adjustment of status or consular processing, and then filing the I-829 petition to remove conditions two years after admission. See the official USCIS guidance for precise requirements and forms linked below.
USCIS EB-5 Program describes the program, eligibility, and required petitions. The Department of State provides visa processing information for immigrant investors. And the Federal Register outlines the regulatory framework and investment thresholds that apply to LIC projects.
USCIS states that the EB-5 program requires investment to create or preserve at least 10 full-time jobs for U.S. workers, and to prove lawful source of funds.
The 2022 regulatory changes adjusted investment minimums and TEA rules. These changes are published in the Federal Register and reflected in USCIS guidance.
Federal Register - Investing in the United States Immigrant Investor Program provides the formal rule changes affecting LIC projects and TEA determinations.
A Long Island City based attorney or solicitor specializing in Residence by Investment can add value in several concrete scenarios. Below are real-world examples relevant to LIC clients.
Residence by Investment in LIC operates under federal immigration law, but several jurisdiction-specific concepts apply in practice. Here are the core laws and regulations that govern EB-5 in this context.
As of 2022, EB-5 investment thresholds and TEA definitions were updated through a Federal Register final rule. Practitioners in LIC review these changes to ensure compliance for projects in LIC and nearby Queens neighborhoods.
Important note: LIC projects must still meet the national job creation standard and TEA criteria when applicable. For precise rules and the latest thresholds, consult the official sources linked below.
The EB-5 program allows foreign nationals to obtain conditional permanent residence by investing in a new commercial enterprise and creating or preserving 10 U.S. jobs. A lawyer helps with eligibility, investment structure, and filings.
Begin with a qualified LIC attorney who collects documentation on investment sources, project details, and job creation plans. The I-526 petition is filed with USCIS and requires extensive supporting evidence.
Current rules set the minimum investment at $800,000 inside a TEA and $1,050,000 outside TEA. TEA determinations depend on unemployment data and geographic designations.
No, the 10 jobs must be created in the United States by the enterprise funded with EB-5 investment. Jobs can be in LIC or elsewhere in the U.S. depending on the project’s scope and location.
Processing times vary. I-526 petitions may take 12-24 months or longer, depending on backlogs. Conditional residency is usually granted after visa interview or adjustment, followed by two years before removing conditions.
Regional Centers can simplify job creation demonstrations and streamline compliance, but investors should assess control, fees, and monitoring. A LIC attorney can help compare Regional Center vs Direct Investment options.
Yes, you can include immediate family members in your EB-5 petition. Spouse and unmarried children under 21 may obtain conditional permanent residence through your investment.
TEA investments qualify with a lower threshold and generally require a valid targeted area designation. Non-TEA investments require a higher minimum amount and different documentation.
Fees vary by firm and project complexity. Expect attorney fees for I-526 preparation, due diligence, and I-829 removal of conditions, plus project related costs and filing fees.
Yes, but you must clearly prove that the funds are your own and lawfully sourced. Lenders may require additional documentation and the loan structure must be compliant with USCIS rules.
While not legally required, a licensed solicitor or attorney reduces errors, helps with complex documentation, and improves the chance of timely approvals and proper condition removal.
Regional Centers can offer project due diligence and streamlined compliance, but investors should perform independent due diligence and consult a LIC attorney to review terms, risks, and governance.
