FAQs

What is a regional center?

What is a targeted employment area?

What is the minimum investment for the Mount Snow projects?

What other fees are required?

What is the process?

How long does it take to get a conditional green card?

What if a child turns 21 during the process?

Can an investor’s children attend school in the United States during the process?

Can the invested funds be a gift?

Is the investment guaranteed?

Does the investor need business experience?  Does he or she need to manage the business?

Does the investor need to speak English?

Does the investor need to be in good health?

Does the investor need to live in the same area as the investment?

Does the investor need to live in the United States?

Can I visit the project location?

 

 


 

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 $50,000 that covers administrative, marketing and legal costs is required.    This does not include attorney fees required to prepare and submit the petitions.

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, the investor, his spouse, and all children under the age of 21 may apply for and be issued conditional green cards.  Approximately two years after being granted a green card, 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.   For more information on the process, click here.

How long does it take to get a conditional green card?
Processing times for the I-526 vary between 8 -16 months.  Once an investor’s I-526 is approved by USCIS, the investor and eligible dependent family members may apply for conditional residence status through the adjustment of status process (if living in the United States) or at a U.S. consular post abroad (if living outside the United States). This process takes three to six months.

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.

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?
Yes.

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.