Nigerian Investors for EB-5 Visa allows Nigerian nationals to obtain U.S. permanent residency by investing in a U.S. business and creating jobs for American workers. It takes 4-5 years to process an EB-5 visa for Nigerian investors. According to the U.S. Department of State (DOS), 12 Nigerian investors were issued EB-5 visas in fiscal year (FY) 2023.

The EB-5 Visa has five key benefits for Nigerian investors. These benefits include a direct path to US permanent residency, no sponsorship required, flexibility in employment, education benefits, and potential return on investment.

What is EB-5 Visa?

The EB-5 Visa is an immigrant visa for foreign investors who wish to obtain permanent residency (a green card) in the United States. It is acquired by meeting the necessary EB-5 visa requirements, satisfying the minimum investment amount, and having a lawful source of funds.

What are the benefits of EB-5 Visa for Nigerian Investors?

The benefits of EB-5 Visa for Nigerian investors include a direct path to U.S. permanent residency, no sponsorship required, flexibility in employment, education benefits, and potential return on investment. Further details of each key benefit of EB5 visa for Nigerian investors are listed below. 

  • Path to U.S. Permanent Residency: The primary benefit of the EB-5 visa for Nigerian investors is that it provides a direct path to obtaining US permanent residency for the investor, their spouse, and unmarried children under 21 years old.
  • No Sponsorship Required: Unlike many other US immigration programs, the EB5 visa does not require an employer or family member to sponsor the investor.
  • Flexibility in Employment: EB 5 visa holders have the flexibility to live and work anywhere in the United States, and they are not tied to a specific employer or job.
  • Education Benefits: Nigerian investors can benefit from access to U.S. educational institutions at resident tuition rates, which are typically lower than international rates.
  • Potential Return on Investment: While the primary goal is obtaining a green card, the investment may also generate returns depending on the project’s success.

What are the risks of EB-5 Visa for Nigerian Investors?

The risks of EB-5 Visa for Nigerian investors involve financial risk, job creation requirement, immigration policy changes, project risks, processing time and backlogs, as well as legal and regulatory compliance. Each risk of EB-5 visa for Nigerian investors are further expanded below. 

  • Financial Risk: The minimum investment amount for an EB-5 visa is significant (either $800,000 in a TEA or $1.05 million in a non-TEA), and there is no guarantee of return on investment or that the Nigerian investor will receive their capital back.
  • Job Creation Requirement: The investor’s capital must create and sustain at least 10 full-time jobs for US workers. In case the project fails to create these jobs, the investor risks losing their eligibility for the EB 5 visa.
  • Immigration Policy Changes: The EB5 program is subject to changes in U.S. immigration policy, including potential changes in investment thresholds, processing times, or visa availability, which could impact the Nigerian investor’s application.
  • Project Risks: The success of the EB-5 investment depends on the success of the project in which the capital is invested. Factors such as economic conditions, mismanagement, or other unforeseen circumstances could affect the project’s viability.
  • Processing Time and Backlogs: Due to high demand, there can be significant processing times and backlogs for EB-5 visas, which may delay the Nigerian investor’s ability to obtain US permanent residency.
  • Legal and Regulatory Compliance: Nigerian investors must ensure compliance with complex legal and regulatory requirements, including securities laws and immigration regulations, which may require professional legal and financial advice.
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How long does it take to process an EB 5 visa for Nigerian investors?

It takes 4-5 years to process an EB 5 visa for Nigerian investors. This timeline covers several months for gathering documentation for the income requirements as part of the EB5 Visa Requirements, 24-36 months for the initial petition for Form I-526 or Form I-526E, 15 to 30 minutes for the actual visa interview, several months of waiting for an EB5 visa to become available, and 18-24 months for filing a petition to remove conditions (Form I-829).

How much does an EB-5 Visa cost for Nigerian Investors?

The EB-5 Visa cost for Nigerian investors ranges from $108,315 (₦172,221,933.15 Nigerian Naira) to $137,305 (₦218,316,323.05 Nigerian Naira).

Every EB-5 investor must set aside $21,685 (₦34,479,366.85 Nigerian Naira) for the common filing fees and an average of $25,000 (₦39,750,250 Nigerian Naira) for the EB-5 immigration lawyer. A breakdown of the EB-5 Visa cost for filing and immigration lawyer fees include the I-526 or I-526E petition filing fee of $11,160 or $12,160 (₦17,744,511.60 or ₦19,334,521.60 Nigerian Naira), I-829 filing fee of $9,525 (₦15,144,845.25 Nigerian Naira), the EB5 Visa lawyer fees which ranges from $20,000 to $25,000 (₦31,800,200 to ₦39,750,250 Nigerian Naira), and expert immigration fees when filing I-829 for removal of conditions, which ranges from $5,000 to $7,500 (₦7,950,050 to ₦11,925,075 Nigerian Naira).

For regional center EB-5 investors, there is a Regional Center Fund Administration fee which ranges from $60,000 to $80,000 (₦95,400,600 to ₦127,200,800 Nigerian Naira). For direct EB-5 investors, there is a contract fee of about $15,000 (₦23,850,150 Nigerian Naira).

For EB5 investors residing in the US, there is an I-485 Adjustment of Status petition fee of $1,440 or $950 (₦2,289,614.40 or ₦1,510,509.50 Nigerian Naira). There is an option of filing the Form I-765 for employment authorization for the Employment Authorization Document (EAD), which costs $470 (₦747,304.70 Nigerian Naira). The Form I-131, Application for Travel Document for Advance Parole, has a filing fee of $630 (₦1,001,706.30 Nigerian Naira).

For EB-5 investors outside the US, there is a filing fee for the Form DS-260, which costs $345 (₦548,553.45 Nigerian Naira) per person. Another part of the EB5 Visa Cost is the U.S. Citizenship and Immigration Services (USCIS) Immigrant Fee, which is $235 (₦373,652.35 Nigerian Naira) per person. EB5 investors outside the US will have to budget for charges related to making foreign remittances.

Aside from all these costs, additional expenses may arise based on whether the EB5 investor requires an English translation of the documents, whether the EB-5 investor intends to travel to the U.S. to inspect the Regional Center project, or if the EB5 investor needs to conduct direct business before transferring the investment.

What is the priority date for EB5 visa in Nigeria?

The priority date for EB5 visa in Nigeria is earlier than the cutoff date listed for Nigeria in the Visa Bulletin for the visa to be available. As of recent trends, Nigeria has had relatively short waiting times compared to countries with higher demand like China or India. However, this can change based on the overall number of EB-5 applications and any potential policy changes.

Due to the nature of the EB-5 visa program and the quota system, the priority dates can change frequently. It’s essential to check the latest visa bulletin issued by the U.S. Department of State, which outlines the current priority dates for each visa category including EB-5. This bulletin is typically updated on a monthly basis. To find the most current information, you can visit the U.S. Department of State’s Visa Bulletin website or consult with an immigration attorney who specializes in EB-5 visas.

What are the EB-5 Visa statistics for Nigerian investors?

The EB-5 Visa statistics for Nigerian investors states that in FY 2023, approximately 16 Nigerian investors applied for the EB-5 visa according to the U.S. Department of State (DOS). 12 Nigerian investors were issued EB-5 visas in FY 2023.

What is the best project to invest in with an EB-5 visa for Nigerian Investors?

The best project to invest in with an EB-5 visa for Nigerian investors is a real estate development project. Real estate investments in high-demand markets tend to have a lower risk profile compared to more speculative ventures, providing a balance of stability and potential for return. There are two main types of EB-5 projects. These are Regional Center Projects and Direct Investment Projects.

Regional Centers are organizations approved by USCIS that manage EB-5 investment projects. They pool funds from multiple investors to finance larger-scale projects, such as real estate developments, infrastructure projects, or other business ventures. Regional Centers often use economic modeling to count both direct and indirect job creation. This can sometimes make it easier for the project to meet the job creation requirements of the EB-5 visa. Nigerian investors’ funds are typically spread across various projects or sectors, which can reduce individual risk. Regional Centers usually have experienced management teams handling the day-to-day operations of the projects, potentially leading to better outcomes.

Direct Investment Projects involve investing directly into a business, typically requiring a larger investment and more active involvement from the investor. Nigerian investors may have more control over the project, though this is often dependent on the specific structure of the investment. Direct Investments require the creation of at least 10 full-time jobs for U.S. workers directly attributable to the investment. Direct investments can offer higher potential returns but also come with increased risk and a need for more hands-on management.

EB5 Regional Center Projects are good to invest in and recommended for many Nigerian investors, especially those who prefer a more passive investment with a diversified risk profile. They offer more flexibility with job creation requirements and can be less demanding in terms of investor involvement.

What does the future hold for EB-5 investors from Nigeria?

The future for EB-5 investors from Nigeria looks promising as Nigeria remains a significant source of applicants for the EB-5 Immigrant Investor Program. The EB-5 process involves investing a minimum of $800,000 in a TEA or $1.05 million in a non-TEA, and meeting job creation requirements. Nigerian investors typically work with immigration attorneys and regional centers to navigate the EB-5 visa application, ensuring their investments meet the criteria. The number of Nigerian investors has been increasing due to the program’s appeal amid Nigeria’s economic challenges and the desire for U.S. residency. As long as the EB-5 program remains attractive and accessible, and assuming no significant changes in U.S. immigration policy or investment requirements, Nigerian interest in the EB-5 program is likely to continue growing.

What are the differences between EB-5 Visa and E-2 Visa for Nigerian Investors?

The differences between EB-5 Visa and E-2 Visa for Nigerian Investors are the investment requirements, path to permanent residency, and eligibility.

EB-5 Visa requires a minimum investment of $800,000 if the investment is in a TEA or $1.05 million in a non-TEA. The investment must be made in a new commercial enterprise that creates at least 10 full-time jobs for U.S. workers. E-2 Visa requires a substantial investment in a U.S. business, but there is no set minimum amount specified by U.S. immigration law. The investment must be enough to ensure the successful operation of the business, typically considered substantial relative to the business’s needs. There is no specific job creation requirement like the EB-5.

EB-5 Visa provides a pathway to permanent residency (a green card) for the Nigerian investor, their spouse, and their unmarried children under 21. After two years, Nigerian investors can apply to remove the conditions on their green card and obtain permanent residency. E-2 Visa offers a temporary non-immigrant status and does not directly lead to permanent residency. The E-2 visa is typically granted for up to two years and can be renewed indefinitely as long as the Nigerian investor maintains the business and meets visa requirements.

EB-5 Visa is available to investors from any country, including Nigeria, provided they meet the investment and job creation requirements. E-2 Visa is available only to nationals of countries that have a qualifying treaty with the United States. Nigeria is not currently a treaty country, so Nigerian investors are not eligible for the E-2 visa. E-2 eligibility requires a treaty country status, and investors must be citizens of such a country.

What other countries can invest in the EB-5 Visa program?

Other countries that can invest in the EB-5 Visa program include Mexico, Taiwan, Brazil, Vietnam, South Korea, United Kingdom, China, India, Hong Kong, South Africa, Singapore, Colombia, Indonesia, UAE, Venezuela, Philippines, Egypt, Canada, Germany, Bangladesh, Malaysia, Iran, Israel, Kuwait, New Zealand, Turkey, and Poland.

Each country has its own unique considerations and challenges when it comes to the EB-5 visa program. A comparison of some key differences and special considerations for investors from Mexico, Taiwan, Brazil, Vietnam, South Korea, the United Kingdom, China, and India are below.

  • Mexico Investors for EB-5 Visa – Mexico has become an increasingly popular country for EB-5 investors due to its proximity to the U.S., strong economic ties, and relatively high net worth among its population. Mexican investors are attracted to a range of EB-5 projects, including those in urban centers and regional developments. The processing times for Mexico Investors for EB-5 Visa can be relatively faster compared to countries with larger backlogs.
  • Taiwan Investors for EB-5 Visa – Taiwan has a growing number of EB-5 investors due to its high-income economy and increasing interest in U.S. residency. Taiwanese investors often look for stable, well-managed EB-5 projects that provide a secure return on investment. Taiwan Investors for EB-5 Visa has moderate processing times, influenced by the demand for EB5 visas and U.S. immigration policies.
  • Brazil Investors for EB-5 Visa – Brazil’s economic diversity and growing wealthy class contribute to a rising interest in the EB-5 program. Brazil Investors for EB-5 Visa are interested in a variety of projects, often focusing on sectors with strong growth potential. The visa process can be competitive, but Brazil has seen an increase in applicants seeking the benefits of U.S. residency.
  • Vietnam Investors for EB-5 Visa – Vietnam has seen a surge in EB-5 visa interest due to rapid economic growth and a rising middle class. Vietnamese investors are drawn to diverse EB-5 projects, with a particular focus on those in urban and infrastructure development. The demand for Vietnam Investors for EB-5 Visa is high, which can influence processing times and visa availability.
  • South Korea Investors for EB-5 Visa – South Korea has a substantial number of EB-5 investors due to its strong economy and high net worth individuals. South Korean investors typically look for projects with solid economic fundamentals and reliable returns. South Korea Investors for EB-5 Visa generally experience relatively efficient processing times compared to countries with larger application backlogs.
  • The United Kingdom Investors for EB-5 Visa – The United Kingdom has a notable number of EB-5 applicants, driven by its affluent population and interest in U.S. residency. British investors often seek high-quality, secure investment opportunities with clear paths to job creation. The United Kingdom Investors for EB-5 Visa typically benefit from relatively smooth processing, although demand and policy changes can impact timelines.
  • China Investors for EB-5 Visa – China has historically been one of the largest sources of EB-5 investors, driven by its large number of high-net-worth individuals seeking U.S. residency. Chinese investors often prefer projects with high potential for return and job creation, and many work through Regional Centers. Due to high demand, there are often significant backlogs and extended wait times for China Investors for EB-5 Visa, sometimes requiring several years to process.
  • India Investors for EB-5 Visa – India, a rapidly growing economy and a prominent player in global business, offers substantial opportunities for investors seeking the EB-5 Visa. With a population exceeding 1.4 billion, India is known for its vibrant culture, burgeoning technology sector, and increasing global influence. India Investors for EB-5 Visa benefit from the program because it is a pathway to U.S. permanent residency, leveraging their business acumen and capital to contribute to U.S. economic growth while securing opportunities for themselves and their families in the U.S.

Is the USA a good foreign market to invest in for Nigerian citizens?

Yes, the USA is a good foreign market to invest in for Nigerian citizens. The U.S. economy is one of the largest and most stable in the world, offering diverse opportunities across various sectors. This stability can provide a safer environment for investment compared to more volatile markets. The U.S. market is vast and diverse, with opportunities ranging from technology and real estate to healthcare and consumer goods. This variety allows Nigerian investors to diversify their investments and tap into numerous high-growth areas. The U.S. has a well-established legal and regulatory framework that provides protection for Nigerian investors and their investments. This includes intellectual property rights, contract enforcement, and transparency in business operations.

Is EB-5 Visa popular to Nigerian Investors?

Yes, EB-5 Visa is popular to Nigerian investors. The EB5 visa is highly sought-after by Nigerian investors because the program offers a direct route to a U.S. Green Card and citizenship, presents unlimited educational opportunities, provides high living standards and security, gives ease of assimilation in the American society, and offers faster immigration.

Can EB-5 Visa Attorney speed up the process of EB-5 Visa?

Yes, an EB-5 Visa Attorney can speed up the process of EB-5 Visa for Nigerian investors. An EB5 Visa Attorney can make an expedite request to the USCIS to speed up the processing time of a Nigerian investor’s EB 5 petition or application. These petitions or applications include Form I-526 Immigrant Petition by Alien Entrepreneur, Form I-924 Application for Regional Center, and Form I-829 Petition by Entrepreneur to Remove Conditions.

Is obtaining an EB-5 visa easy for Nigerian Investors?

No, obtaining an EB-5 visa is not easy for Nigerian investors. The level of difficulty getting an EB-5 visa is determined by the Nigerian investor’s financial standing, business acumen, and dedication to job creation. Even though the EB-5 Visa has a simple process, it does need a significant financial investment and compliance with job creation requirements. Apart from that, Nigerian investors for EB-5 Visa have to take into consideration the demand and waiting times, legal and documentation requirements, and the immigration process, which includes multiple steps and requires careful attention to detail as well as adherence to U.S. immigration laws and regulations.

Can a Nigerian national apply for EB 5 while on H1B?

Yes, a Nigerian national can apply for EB 5 while on H1B. The EB-5 Reform and Integrity Act of 2022 has made it easier for H-1B visa holders, particularly those who are Nigerian citizens, to apply for EB-5 visas and obtain permanent residency in the United States. As per the immigration attorneys, H-1B Nigerian holders can file their Adjustment of Status concurrently with their EB-5 petition through the Registered Investment Advisor (RIA) concurrent filing route. This enables H-1B Nigerian holders to remain in the US while their EB-5 petition is being processed.

Can a Nigerian Investor borrow money for EB-5 Visa?

Yes, a Nigerian investor can borrow money for EB-5 Visa investment, but there are specific guidelines and requirements that need to be met to ensure compliance with EB-5 visa regulations. These EB5 Source of Funds Requirements include having a legal source of funds, showing records of business registration as proof of its existence, collecting copies of tax returns from personal or business tax filings, providing documents if the funds were from a third party, and submitting administrative proceedings both in and outside the US.

Can an international student from Nigeria with an F-1 visa apply for EB5 visa?

Yes, an international student from Nigeria with an F-1 visa can apply for EB5 visa. According to USCIS policy guidelines, F-1 students can apply for a green card as long as they continue to hold a foreign residence that they have no intention of relinquishing. Nigerian international students who are already in the US on an F-1 visa can change their status and apply for a green card if they meet the requirements to be part of the EB-5 Investor Visa program.