Introduction and Guest Welcome (00:00)
Nick Buonagurio (00:00)
Hello, everyone. My name is Nick Buonagurio, Senior Vice President at CanAm Investor Services, and I’m joined today by Christian Triantaphyllis of Jackson Walker. Christian, please tell us a few words about yourself and your firm.
Christian Triantaphyllis (00:13)
Thanks, Nick. As mentioned, I’m Christian Triantaphyllis. I manage the business immigration practice at Jackson Walker. I’m based out of our Houston office, where we handle all things immigration, but we have a very unique and very active EB-5 practice. We work with families from all around the world going through the EB-5 immigration process every day, from clients who are just starting out to clients who are finishing up the process and now applying for citizenship. So I’m happy to be speaking with you today about some of the latest issues and concerns that we’re having with our clients on a day-to-day basis.
Why This Episode Matters: The EB-5 Reform and Integrity Act (00:55)
Nick Buonagurio (00:55)
Thank you, Christian. We’re happy to have you. Really, we’re speaking today because since the Reform and Integrity Act was passed in 2022, the EB-5 industry at large has seen an increase in approvals in both legacy I-526 petitions and quicker processing time for many I-526E petitions. This is very encouraging for the whole industry and is really an exciting milestone for any investor when their petition is approved. But getting the approval notice is really just the first step, and we thought it would be helpful for investors to do a deeper dive into both consular processing for investors based outside the United States, and the adjustment of status process for investors based inside the United States.
Preliminary Steps Before Filing an EB-5 Petition (01:36)
Nick Buonagurio (01:36)
The preliminary stages for both are really the same. An investor first needs to decide if EB-5 is right for them. If they do, they should retain an immigration attorney as soon as possible to begin working on their source of funds and also begin speaking with regional centers to select a project. Once their source of funds is done, they can make their investment to proceed to file their I-526, now called the I-526E petition. Then they need to wait for the approval. Again, we are seeing things improve, but it can take some time for the I-526E to be approved. Eventually the approval does come in, and depending on where you are in the world, you will have a different process.
Consular Processing: Getting Notified of I-526E Approval (02:15)
Nick Buonagurio (02:15)
So Christian, let’s first start with consular processing for investors based outside of the United States. As a starting point, how are investors notified that their petition has been approved?
Christian Triantaphyllis (02:26)
Sure. We’ll get an I-526E approval notice. Typically I’ll receive that in the mail on behalf of my client, and we get to deliver the good news and let them know we’re onto the next step: consular processing for those who are abroad. That I-526E approval notice should be sent by USCIS to the National Visa Center. The National Visa Center is in charge of moving the investor through that consular processing step. So really, the news I’m delivering to the client is good news: your I-526E approval has come in, and now this is your ticket to start your consular processing. We’re now waiting for the National Visa Center to issue something called a welcome letter, or visa fee bill, which allows the investor and dependents to complete their DS-260 applications to start that consular processing activity.
Timeline for the National Visa Center Fee Bill (03:29)
Nick Buonagurio (03:29)
Okay, and how long does it take for you to get that letter? After you get the approval notice, is that also sent to you via email?
Christian Triantaphyllis (03:37)
That’s right. I’ll get the notice sent to me by email. Now, the timeline on getting the visa fee bill has differed between those who filed before the EB-5 Reform and Integrity Act and those who filed after. Those who filed before have unfortunately continued to be subject to longer timelines. I’ve noticed it’s been taking longer for the National Visa Center to issue that visa fee bill for those cases, so I’ve had some clients waiting six months or even a little more. In comparison, many investors who get I-526E approvals under the newer program tend to get the visa fee bill within two to three months after approval. So it’s really been a varying timeline. Nothing has been consistent, but I have been seeing faster issuances by the NVC for those who’ve gotten the I-526E approvals.
DS-260 Applications and Civil Document Collection (04:49)
Nick Buonagurio (04:49)
Got it. So they receive the fee bill, whether it’s five or six months or sometimes two to three months. They submit that, and then what are the next steps for them?
Christian Triantaphyllis (04:52)
The next steps are to pay the visa fee bill online, and then we’ll open up the DS-260 applications. In the meantime, while waiting for that document, we’ll be collecting other information from our client. Typically we’ll get DS-260 questionnaires completed, and we’ll send out checklists to collect civil documents for each applicant going through consular processing for their EB-5 visas. Once we fill out the online DS-260 applications, we’ll submit those to the National Visa Center. We’ll follow up by emailing each individual’s civil documents, typically consisting of birth certificates, marriage certificates, copies of passports, and police clearance certificates. We email those documents to the National Visa Center, and then we wait to hear back on whether our client is documentarily qualified.
Becoming “Documentarily Qualified” and Scheduling the Visa Interview (06:27)
Christian Triantaphyllis (06:27)
We’ll typically get notified about six to eight weeks later, by email, with a letter that says our client is documentarily qualified. If the National Visa Center determines the client is not documentarily qualified, they’ll let us know what we need to work on. So we’ll reach back out to the client. Maybe the police certificate wasn’t issued in the right format, or there was something problematic with the birth certificate. We get that corrected and resubmitted, and maybe in another week or two we get the letter showing the client is documentarily qualified.
From there, the National Visa Center works with the U.S. consular post where the applicant resides to schedule the EB-5 visa appointment. That can take some time. It can take another two to three months for consular posts that aren’t so busy, but some of the more common posts, think Mumbai, Guangzhou, Ho Chi Minh City, and Ciudad Juarez, will take longer. It could take six months, could take nine months, to get that EB-5 visa appointment scheduled. But we will get a visa appointment letter by email, saying your visa appointment has been scheduled, here’s the date and time. During that time, the applicant and dependents need to get their medical exam done and complete biometrics. Each consular post has directions on how and when to do this prior to the EB-5 visa interview.
Nick Buonagurio (07:40)
So between waiting for your fee letter, submitting your documents, and then scheduling the actual consulate interview, what would you say the range is? It seems pretty wide, anywhere from four months to another year.
Christian Triantaphyllis (07:55)
That’s right. I typically try to prepare clients for a timeline, post I-526E approval, of waiting anywhere from six to 12 months before attending their EB-5 visa interview.
What to Bring to the EB-5 Visa Interview (08:15)
Nick Buonagurio (08:15)
Understood. And when they actually go to attend the interview, what are they bringing with them?
Christian Triantaphyllis (08:19)
We send out information about the interview. They want to have their passport with them and their interview appointment letter. They may have their medical exam with them, or the physician may send the medical exam directly to the consular officer. They should typically have their DS-260 confirmation page. When entering the building, they may need to reference some information on that page. But that’s mostly it. The consular officer will have a copy of the I-526E petition and will see that the biometrics have been submitted through consular processing, and then it’s time for the interview.
Common EB-5 Visa Interview Questions (09:26)
Nick Buonagurio (09:26)
What are typically the things asked at the interview? My understanding is there’s a wide range of things that could be asked. On the CanAm side, to prepare investors from the regional center, we provide a thorough packet with all of their project documentation, subscription documentation, all of the transactions of their funds going into the project, and all of the project updates. But in your experience, what is the range of questions that people are commonly asked?
Christian Triantaphyllis (09:56)
That’s a very thorough preparation on your part. I also put together a preparation document regarding the project. I tell the investor they can be asked questions about the status of the project, their role, and the status of their investment. I don’t expect my client to know the full job creation number at that time necessarily, or the exact timelines of everything involved, but it’s helpful to have a good understanding of the status of the project and to speak confidently about job creation happening as a result of their investment.
We also ask our client to review the source of funds narrative and documents that were included in the I-526E approval, because that’s what the consular officer is referring back to. Most clients have a good understanding of where their investment funds came from, but we also work with, say, kids who received a gift and made the investment, or someone who isn’t as familiar with their family’s financial background. We want them to brush up on that source of funds information in case they’re asked about it.
I also tell clients not to be nervous. This is going to be a lot of questions about themselves, with pretty natural answers: where do you live, how do you support yourself, when do you plan on moving to the U.S., where are you going in the U.S., who are you going with when you immigrate. These will seem fairly obvious because family members are right there with you and they’re all listed on the application, but just answer them truthfully; short and concise is very good. They may ask whether you’re a member of certain organizations, which most people can simply answer no to. This is the officer going down a checklist to make sure they’ve asked the questions they’re supposed to ask.
So that’s a quick version of how I prepare a client going into an EB-5 visa interview: it’s a combination of the basics of the EB-5 petition plus making sure you are who you say you are on the DS-260 application, and that you are an intending immigrant. Let the officer know about your potential plans in the U.S., and it’s okay if they’re not set in stone. You don’t need an exact plan on where you’re going to reside. In fact, the directions in the letters say: don’t sell all your assets yet, and don’t assume you’re already in the U.S. You’ve got to attend this interview first, then you’ll get your EB-5 visa and use that to enter the United States.
After the Interview: Visa Issuance and the Immigrant Packet (13:11)
Nick Buonagurio (13:11)
Understood, great, thank you for that. So they make it through the interview and walk out the door. What are they given when they complete the interview? The officer says the interview went well and they’re moving on to the next steps. Are they physically given documents? What are the next actual physical steps?
Christian Triantaphyllis (13:30)
They’re going to receive their passport with their EB-5 visa in it. Typically it’s mailed to a drop-box location, and they pick it up. They’re also going to get an immigrant packet, which they’ll travel with when entering the United States using their EB-5 visa, and turn in when they enter. That packet then essentially goes to USCIS so that USCIS can produce the conditional green card. In addition to that combination of passport with EB-5 visa and the immigrant packet, there’s an immigrant visa processing fee, I believe around $220, that they need to pay online. That’s essentially it.
Once they use the EB-5 visa to enter the U.S., I typically tell clients they should receive the conditional green card within 90 days. That’s the timeline USCIS gives us. If we don’t receive it by then, we’re able to follow up with USCIS and ask where the conditional green card is. Sometimes the client needs to come back in for biometrics, or we need to reconstruct the immigrant visa packet, or there’s some other issue preventing issuance. The good news is, if there’s any delay beyond that 90-day window and our client needs to travel or start a job, they do receive an entry stamp in their passport when entering using the EB-5 visa. That stamp shows their permanent residence status for a year’s time while waiting on issuance of the conditional green card, so they can use that entry stamp to work and travel as needed.
Entering the U.S. and Receiving the Conditional Green Card (15:33)
Nick Buonagurio (15:33)
That’s very helpful. Just to clarify, they’re entering the United States with the visa in their passport and they physically have a packet with them. When they enter and their visa gets stamped, what are they actually doing with that packet?
Christian Triantaphyllis (15:47)
From what I understand, they typically turn it in when they’re entering at the airport, at CBP.
Nick Buonagurio (16:00)
So they turn it in to the officers when they enter the United States?
Christian Triantaphyllis (16:00)
Yes. Some don’t get a packet; it depends on the consular post, and it can all be done electronically. But we’re still seeing clients turning in this immigrant packet, and typically that’s where they’ll be turning it in. Then it makes its way to USCIS, and that’s where the link can sometimes get a little lost. If USCIS hasn’t produced a conditional green card, we’ll start to suspect there’s an issue with that packet being processed, or maybe the client hasn’t paid the immigrant processing fee, so we just check back with them on that.
Nick Buonagurio (17:04)
Understood, but typically within 90 days they receive their conditional green card?
Christian Triantaphyllis (17:04)
Yes, that’s the much more common outcome. I get the green cards in the mail, and I notify my client that we’ve got them and can send them along. Now they’ve got their physical two-year conditional green card in hand, and they have all the same rights and responsibilities as any other permanent resident.
Nick Buonagurio (17:04)
What is typically the technical start date of that two-year period?
Christian Triantaphyllis (17:09)
It will be the date that they enter the U.S. using their EB-5 visa.
Nick Buonagurio (17:14)
Excellent. So they have their two-year conditional green card, with all the rights and privileges of a permanent green card. Once they complete 21 months of that conditional residency period, they can proceed to file their I-829 petition.
Christian Triantaphyllis (17:25)
That’s right. We’ll be tracking those expiration dates and reaching out to our clients in advance to make sure we’re preparing that I-829 and ready to file once that filing window opens up.
Adjustment of Status: Benefits of Concurrent Filing (17:39)
Nick Buonagurio (17:39)
Excellent. Now let’s segue to investors who are in the United States and are adjusting their status: investors here on another valid visa class, like H-1B, F-1, or L-1. Maybe we should briefly recap the benefits for people in the United States to concurrently file. We’re certainly seeing high volumes of investors coming from within the U.S., and obviously there’s a reason for that. Could you walk us through that?
Christian Triantaphyllis (18:05)
Happy to. This is something that’s come up more recently in these discussions, and I’ve been a bit surprised because I thought the information was out there, but I find myself explaining it again and again, which is always good to do because it’s good news for someone thinking about this program.
Under the EB-5 Reform and Integrity Act, we’re now able to file the adjustment of status application alongside, or concurrently with, the I-526E petition. That means we can not only file the immigrant petition for the EB-5 process, we can also file the application that requests issuance of the conditional green card at the same time: the I-485 application. With that application, we’ll also submit an I-765 application and an I-131 application, which are for the employment authorization document and advance parole travel document that an applicant can receive while waiting on the outcome of their EB-5 case.
This allows the applicant or investor to remain in the U.S. while waiting on approval of their EB-5 case, even if their non-immigrant visa status expires, like an F-1, or they’re laid off as an H-1B visa holder, or someone is an E-2 visa holder who wants to sell or shut down their business. Because we have filed the adjustment of status application with the I-526E petition, they no longer have to maintain that underlying non-immigrant visa status. So it not only allows them to remain in the U.S. without falling out of status, it also grants work authorization and the ability to travel internationally.
Getting Work and Travel Authorization While You Wait (20:03)
Christian Triantaphyllis (20:03)
That doesn’t happen immediately. Typically I’m telling people to expect a four-to-seven-month time period to get their work authorization and travel authorization. We’ve seen it issued in a shorter time, and for others it’s taken a bit longer; these are all approximate timelines. But those documents come in fairly timely, and they’re typically issued in five-year increments. While you’re waiting for your I-526E petition to be approved and your conditional green card to eventually be issued, you’ve got the ability to work and travel as needed, and children can go to school while their adjustment of status application is pending. So you really do have a lot of the perks you’re seeking ahead of time.
Nick Buonagurio (20:55)
Yeah, we’ve been seeing this in very high numbers. Investors are filing all of these applications together: the I-526E, the I-485, the I-765, and the I-131. They’ll get their work and travel authorizations very quickly in the background while they’re still waiting for their I-526E to be approved, whether that takes a year, a year and a half, or longer. So they have the very meaningful benefits of work and travel within the first few months of making their investment and filing all these applications.
After I-526E Approval: The I-485 Process (21:41)
Nick Buonagurio (21:30)
Once the I-526E is actually approved, what’s the next step for those investors, the ones who already have their work and travel authorization and their I-485 pending?
Christian Triantaphyllis (21:41)
Sure. The I-485 adjustment of status application cannot be approved until the I-526E petition is approved, so you’re not going to see issuance of the conditional green card before the I-526E is approved. Typically I’m seeing the I-485 application processed within another six months or so after the I-526E petition is approved. I’ve seen it shorter, and I’ve seen it longer, but that’s the general timeline I give people.
In that adjustment of status application, we’re including copies of passports, passport-sized photos, a medical exam, and a lot of background information on each applicant. USCIS is capable of misplacing passport photos and issuing a request for evidence to resubmit those. In addition, while waiting for the adjustment of status application to be approved, applicants will be called in for a biometrics appointment at an application support center. I typically don’t see much of a connection between when the individual goes in for biometrics and the timing of the actual adjustment of status approval. When someone gets a biometrics appointment notice and asks whether that means an approval is coming in a week, the answer is usually no. USCIS is just calling people in as they open adjustment of status applications to get people prepped, so that once the application is ready for adjudication, that step has already been taken care of.
Waiting on USCIS and Cross-Chargeability Exceptions (23:43)
Nick Buonagurio (23:43)
Are there any action steps the investor needs to take after the I-526E is approved and they begin to process and approve the adjustment of status? You’ll receive notification via email. Is there any action step the investor needs to take, or are they really just waiting for the adjustment of status to be processed with USCIS?
Christian Triantaphyllis (24:04)
For the most part, you’re waiting for USCIS to adjudicate the adjustment of status application. If you’re beyond normal processing times, inquiries can be submitted noting that you have an approved immigrant petition and asking why the adjustment of status application is still pending. But there’s not typically a need to notify USCIS that the immigrant petition has been approved and to go ahead and process the adjustment of status; USCIS is handling that on its own.
There might be some exceptions, such as when we’re using cross-chargeability, where a spouse is from a country not experiencing EB-5 visa backlogs but the main applicant is from a country that is. In that case, we might want to notify USCIS that the family is utilizing cross-chargeability so everyone can be processed under the non-backlogged country and move forward with adjudication. But that’s a fairly nuanced reason to have to notify USCIS.
Family Filing Rules: Why Dependents Can’t File Alone (25:23)
Christian Triantaphyllis (25:23)
The other thing I want to mention is that for a family to go through the adjustment of status process, the I-526E petitioner has to file their own adjustment of status application. I’m often asked: if I’m in my home country handling things there, and I’ll just file my I-526E petition and don’t want to file an adjustment of status application because I can’t be in the U.S. to take care of all of that, and I’m fine consular processing my EB-5 visa, but I have children in university in the U.S. and I’d like them to do this whole process in the United States, can they just go ahead and file their own adjustment of status application?
The answer to that, unfortunately, is no, because if the parent is the primary applicant, the dependents cannot file their adjustment of status applications without the parent also filing one. So that sometimes leads to a broader discussion: does the parent even want an EB-5 green card? If not, we might put the entire application in the child’s name, who’s at university in the U.S., so they can go through the adjustment of status process.
However, if the parents do want EB-5 green cards as well, I’ll explain that if they don’t want to go through the adjustment of status application themselves, we can either file just the I-526E petition, and when the time comes for the EB-5 visa interview, the kids who are in school in the U.S. can accompany the parent to that interview, and everyone can then go to the U.S. using their EB-5 visas. But some people aren’t comfortable with that either. So we go to the next step of the analysis: when the parent’s I-526E petition is approved, they attend their EB-5 visa interview at the U.S. embassy, get their EB-5 visa, and use it to enter the United States. Their children, who are in the U.S. in F-1 student visa status, for example, can then file their own adjustment of status applications, because their parent is now in the U.S. as a permanent resident with a conditional green card, which allows the child to file and also be issued a conditional green card. So we do this process depending on what the family’s needs are, where everyone is located, and what kind of non-immigrant status and obligations they have.
Why EB-5 Processing Timelines Keep Shifting (27:35)
Nick Buonagurio (27:35)
Understood. So there are obviously different strategic ways to manage different family circumstances, and that’s why it’s so crucial to work with an experienced EB-5 immigration attorney.
Christian Triantaphyllis (28:14)
I’d say not only that, one of the most pressing questions anyone’s asking about these processes is how long it’s going to take. It’s such a moving target; these timelines can change every three to six months. So it’s very valuable to be working with a team that sees these changes in timelines in real time: what consular posts are doing around the world, and how USCIS is issuing work and travel authorization documents in addition to adjudicating adjustment of status applications.
I-485 Approval and the Conditional Green Card (29:03)
Nick Buonagurio (29:03)
So the I-485 is ultimately approved. Are you notified again by email, or how are you notified of the I-485 approval?
Christian Triantaphyllis (29:12)
The I-485 approval, we do receive that in the mail.
Nick Buonagurio (29:19)
Physical mail?
Christian Triantaphyllis (29:19)
Physical mail. We will notify our client, and that’s such good news, because on the day the I-485 is approved, they are now a conditional permanent resident of the United States. We let them know we should receive the green card any day now; it might take another two to three weeks to receive the conditional green card in the mail. That conditional green card, just like the one issued through consular processing, is valid for 24 months, and we’ve got to keep track of that expiration date and reach out in advance to prepare the I-829 petition.
Nick Buonagurio (30:57)
And the start date of that two-year period is the I-485 approval date?
Christian Triantaphyllis (31:07)
Correct, that’s the start of the two-year period.
Nick Buonagurio (31:07)
Excellent. And as you mentioned, then you’ll be following the remaining 24 months, and the window to file the I-829 opens up at the 21-month mark.
Christian Triantaphyllis (31:17)
That’s right. Once it’s time to get that stage done, we’ll reach out and ask clients to send us updated documents about themselves, and of course we’ll be collecting job creation information to make sure we’ve got the bulk of the I-829 petition taken care of.
Filing the I-829 Petition and the 48-Month Extension (31:36)
Christian Triantaphyllis (31:36)
Once we file the I-829 petition, a reminder that the individual will be holding an expired conditional green card, but that I-829 receipt notice plus the expired conditional green card will demonstrate that individual’s ongoing permanent resident status. We do send out the originals of the I-829 receipt notice, because that’s what CBP wants to see when someone is traveling internationally and returning using that receipt notice and expired conditional green card; copies aren’t good enough. They want to see the original of the I-829 receipt notice.
Nick Buonagurio (32:21)
So it starts out as a two-year conditional green card and is extended while the I-829 is processing. What’s the term of that extension? You file the I-829 petition, and now your conditional green card is valid for what duration?
Christian Triantaphyllis (32:33)
USCIS has been adjusting that timeframe again and again. Right now, the I-829 receipt notice will show an extension of 48 months while waiting on adjudication of the I-829. That happened because it was taking the I-829s a long time to get approved, given extended processing times. The good news is we’re starting to see I-829s processed and approved in under a year’s time, fairly consistently.
I-829 Processing Times Are Improving (33:01)
Nick Buonagurio (33:01)
Yeah, we haven’t been seeing that and I’ve been very pleasantly surprised. I’m still a little hesitant to set that as an expectation for a new investor, because for most of our careers it’s been closer to two to three years.
Christian Triantaphyllis (33:14)
Right, I think going into every step of this process it’s always best to have more conservative expectations, but you’re spot on. We’re seeing more and more approvals well under a year. I’ve seen some five- and seven-month approvals, and it’s very encouraging; we certainly hope that continues.
If I-829 Processing Runs Long (33:32)
Nick Buonagurio (33:32)
And on the flip side, if for some reason the I-829 were to be processing beyond that 48-month timeframe?
Christian Triantaphyllis (33:44)
The family needs to go in for an InfoPass appointment at a local USCIS office to get extension stamps in their passport, showing that their I-829 continues to be processing and that they still have the right to be here as a permanent resident. That’s a fairly routine process; it’s just a bit inconvenient. So we do hope to see, and we are seeing, the I-829 improve well before that point.
Nick Buonagurio (34:04)
So in the hopefully rare event that it goes beyond 48 months, it can continue to be extended?
Christian Triantaphyllis (34:10)
Yes. Clients get nervous and ask whether they lose their permanent residence status. They want to be able to show, especially in this environment, that they have lawful status if they need to present documentation. I’m currently advising a few clients who are still waiting to go get extension stamps, and of course they need to consider other options to help move things along, because eventually it just gets too long, and we have a valid reason to start pressing USCIS to adjudicate these I-829s.
Nick Buonagurio (34:43)
Out of curiosity, what’s the term of those extensions beyond the 48 months? Is that for another 48 months?
Christian Triantaphyllis (34:51)
It’s not; it’s just a 12-month extension.
Nick Buonagurio (34:53)
For a 12-month extension. But they can continue to do that?
Christian Triantaphyllis (34:56)
That’s correct.
From I-829 Approval to a Permanent 10-Year Green Card (34:58)
Nick Buonagurio (34:58)
Excellent. Ultimately, the I-829 is approved and the conditions are removed from the green card. After getting the I-829 approval, how long before they’re actually issued a permanent green card?
Christian Triantaphyllis (35:12)
Typically we’ll get that I-829 approval, once again, in the mail. We should expect to receive the unconditional green card within another two to three weeks. It’s typically fairly fast, so we’ll hold on to the full set of approvals, and then we’ll get the green cards in the mail and be able to deliver those to our clients. There’s not much delay in issuing the green card after the I-829 approval comes in, and that green card is valid for 10 years, just like everybody else’s. It can be renewed using a simple I-90 application after 10 years. In addition, an individual can apply for citizenship if they qualify and want to. The time spent as a conditional green card holder counts toward that five-year qualification period to apply for citizenship, which emphasizes that time spent as a conditional green card holder really is time spent as a permanent resident. The difference is just that two-year period on the green card versus the 10-year period, and the way to extend the conditional green card is by filing the I-829, versus a simple Form I-90 for renewal.
Closing Thoughts (35:34)
Nick Buonagurio (35:34)
Well, Christian, thank you so much for your time and your expertise. We greatly appreciate it, and I’m certain the investor base does as well. I look forward to speaking with you again sometime soon.
Christian Triantaphyllis (35:45)
Thanks, Nick. I’ve enjoyed it, and I’m looking forward to doing this again. Thanks a lot. Take care.
Episode Chapters with Timestamps
00:00 Introduction and Guest Welcome
00:55 Why This Episode Matters: The EB-5 Reform and Integrity Act
01:36 Preliminary Steps Before Filing an EB-5 Petition
02:15 Consular Processing: Getting Notified of I-526E Approval
03:29 Timeline for the National Visa Center Fee Bill
04:49 DS-260 Applications and Civil Document Collection
06:27 Becoming “Documentarily Qualified” and Scheduling the Visa Interview
08:15 What to Bring to the EB-5 Visa Interview
09:26 Common EB-5 Visa Interview Questions
13:11 After the Interview: Visa Issuance and the Immigrant Packet
15:33 Entering the U.S. and Receiving the Conditional Green Card
17:39 Adjustment of Status: Benefits of Concurrent Filing
20:03 Getting Work and Travel Authorization While You Wait
21:41 After I-526E Approval: The I-485 Process
23:43 Waiting on USCIS and Cross-Chargeability Exceptions
25:23 Family Filing Rules: Why Dependents Can’t File Alone
27:35 Why EB-5 Processing Timelines Keep Shifting
29:03 I-485 Approval and the Conditional Green Card
31:36 Filing the I-829 Petition and the 48-Month Extension
33:01 I-829 Processing Times Are Improving
33:32 If I-829 Processing Runs Long
34:58 From I-829 Approval to a Permanent 10-Year Green Card
35:34 Closing Thoughts
Speaker Bios
Nick Buonagurio
Senior Vice President, CanAm Investor Services
Nick Buonagurio serves as Senior Vice President of CanAm Investor Services, LLC (CAIS), CanAm’s FINRA-registered broker-dealer. A leading member of CanAm’s global sales team, he has guided hundreds of investors through the EB-5 investment process, from initial project selection through petition filing. Prior to joining CanAm, Buonagurio spent ten years on Wall Street in institutional sales and trading at ICAP, one of the world’s leading inter-dealer brokers, with a focus on equity derivatives and volatility products. He is a graduate of Fairfield University’s Dolan School of Business and holds FINRA Series 7, 55, and 63 licenses.
Christian A. Triantaphyllis
Partner, Jackson Walker LLP
Christian A. Triantaphyllis is a Partner at Jackson Walker LLP and Chair of the firm’s Business Immigration and Compliance practice, based in Houston. He represents foreign nationals and immigrant investors in cross-border and business immigration matters, preparing and filing I-526/I-526E and I-829 petitions for regional centers and direct investors, as well as I-956 applications for regional center designation. Triantaphyllis has been named one of EB5 Investors Magazine’s “Top 25 Immigration Attorneys” for eight consecutive years and has been recognized by The Best Lawyers in America since 2023. He serves on the EB-5 Investor Committee of the American Immigration Lawyers Association and the board of Invest in the USA (IIUSA). He holds a J.D. from New York Law School and a B.A. from Southern Methodist University.
