Our Process

Once a project is selected for sponsorship by Iconic Caribbean and offering documents have been prepared , our network of overseas (non-US based) marketing agents begins signing up foreign investors to specific projects.

In general overseas marketing agents find foreign investors, screen them for financial eligibility to participate in the EB-5 program, provide them with an overview of the EB-5 process, and share with them the offering documents of Iconic Caribbean’s sponsored projects on a select and tracked basis.

Overseas marketing agents are paid by Iconic Caribbean and do not represent an additional cost to the foreign investor. Investors pay Iconic Caribbean a processing fee for participating in the Regional Center’s EB-5 program.

Below is a 12-step summary of what a foreign/immigrant investor can expect once he or she has decided to participate in Iconic Caribbean’s EB-5 program via one of its projects as outlined to them by an authorized party, such as an overseas marketing consultant:

  • Investor fills out Investor Profile form to help determine financial eligibility.
  • If eligible, investor will receive offering documents of investment project from overseas marketing consultant.
  • Investor appoints/engages an Immigration Attorney at own expense.
  • Upon satisfactory review of offering documents, investor signs a Subscription Agreement and sends funds by wire transfer to escrow account designated in offering documents.
  • Investor provides his or her Immigration Attorney with evidence of legal source of investment funds and other information required for filing application I-526 for conditional residence/Green Card; Iconic Caribbean supports preparation of I-526 by providing requisite project and job creation information. Estimated time to filing I-526 is 1-2 months i.e. when critical mass of investors has been reached per offering documents.
  • Upon filing I-526 for conditional residency, investor’s investment funds and fees are partially released from escrow per the terms of offering documents, which include refund in case of I-526 denial.
  • Estimated processing time of I-526 is 6-12 months and includes US Consulate interview for foreign investor resident overseas (if temporarily resident in United States, your Immigration Attorney will advise). Once conditional residency is approved by US Citizenship and Immigration Services, remaining escrow funds and fees are released and investor may no longer withdraw.
  • Investor will receive quarterly updates on their investment.
  • As a limited partner, investor will receive nominal interest on an annual basis on loan made to project.
  • Investor will receive from Iconic Caribbean a reminder notice of due date of the I-829 filing 4 months before end of the two-year period of conditional residency; this filing to remove conditions from residency and obtain permanent Green Card is due in the last 3 months of the two-year residency period. Iconic Caribbean will support the I-829 filing preparation by providing the required job creation data.
  • Irrespective of how long it takes to process I-829 application, investor can apply for US citizenship 5 years after conditional residency was granted provided they have maintained residency in the US during the period. Other factors which influence ability to gain citizenship include no felonies or tax evasion, among others.
  • The average investment term is five years per offering documents i.e. when investor may be able to exit project partnership and receive funds.

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