Foreigners who have obtained conditional green cards through entrepreneurship, will need to file Form I-829, Petition by Entrepreneur to Remove Conditions, to get the conditions on their cards removed.
One of the ways to secure a green card in the U.S. is through investment. Foreign entrepreneurs who make significant investments in the U.S. will get a chance to immigrate to the U.S. To immigrate as investors, they will need to invest between $500,000 and $1 million, in U.S. business ventures.
Foreigners who do so can apply for green cards based on investment. They can immigrate to the U.S. along with their eligible dependents – their husband or wife and children. However, they will not be issued the ten year green cards but the two year conditional cards. At the end of the two year conditional period, they will need to file Form I-829 to remove conditions on their status and to get ten year green cards without conditions.
Investments made by these foreigners must benefit the U.S. economy and create a minimum of ten new jobs. These investors must either create new businesses or invest in existing businesses in the U.S. Many choose to invest in existing businesses.
To remove conditions, the immigrant investor will need to file Form I-829 with a $3,750 filing fee. Only the principal investor must file this form along with the form filing fee; the dependents will automatically be included. Though the dependents need not pay the form filing fee, they will need to pay the biometric fee of $85. This fee must be paid by the principal investors and all their dependents who are applying to remove conditions on their status.
After they file this form, they will be issued application receipt notices. These notices will serve as proof that they have filed applications to remove conditions. Until their petitions are approved, they can use these receipt notices to prove that they are legal residents.