Form I-829, Petition by Investor to Remove Conditions on Permanent Resident Status is filed by EB-5 investors to remove the conditions on their two (2) year green cards. The investors obtained the conditional green cards through their investment in a new commercial enterprise. Filing the Form I-829 is a crucial step in the EB-5 investor’s immigration process as once approved it allows the investors, along with their spouses and unmarried children under twenty-one (21), to achieve permanent residency in the United States. In this article, we explore the I-829 Form in detail, covering its purpose, eligibility requirements, necessary documents, filing timeline, common challenges, and practical tips for a successful submission.
Due to the conditional nature of the EB-5 investors’ permanent resident status, between 21 – 24 months after receiving the conditional green card, the EB-5 investors have to file an I-829 EB5 Form with USCIS to remove the condition on their permanent resident status. The EB-5 investors provide documentation to demonstrate they fulfilled the program’s requirements, including proof they sustained their investment and created the required number of jobs. The I-829 form is the final step in the EB-5 investors’ immigration process, and once approved investors become unconditional permanent residents of the United States.
To successfully remove the conditions on the green card, the following requirements must be met:
When filing Form I-829, the EB-5 investor needs to provide a variety of documents to support their petition, including:
The I-829 form must be file within the 90-day period immediately before the second anniversary of the EB-5 investor’s admission as a conditional permanent resident. Filing early or late may result in complications or even the termination of the EB-5 investor’s conditional permanent resident status, so it is critical to adhere to this timeline.
The processing time for Form I-829 is listed on USCIS website. During this period, USCIS reviews the I-829 petition, request additional evidence, if necessary, and eventually reach a decision. It is important to note that while the EB-5 investor’s I-829 petition is pending, the conditional permanent residency status is automatically extended for the period indicated on the EB-5 investor’s filing receipt. After filing the I-829 Petition, the EB-5 investor receives a filing receipt notice from USCIS, which should accompany their expired green card.
Filing Form I-829 can be complex, and applicants may face several challenges, including:
What is the I-829 Form?
The I-829 Form is a petition filed by EB-5 investors to remove the conditions on their permanent resident status. It is the final step in the EB-5 process, allowing investors to obtain an unconditional green card if the EB-5 Program's requirements are met.
How Do I Fill Out the I-829 Form?
To fill out the I-829 Form, the EB-5 investors must provide personal information, details about their investment, and evidence they have sustained the investment and created the required number of jobs. The I-829 Filing is a voluminous filing, containing numerous exhibits which generally include financial statements, tax returns and bank statements for numerous years, as well as constructions draws, expenditure reports, revenue repots and a job creation analysis, encompassing thousands of pages of supporting documents.
Why Do You Need to Fill Out the I-829 Form?
Filling out the I-829 form is necessary to remove the conditions on the EB-5 investor’s green card. if this petition is not filed, the conditional resident status will expire, and the investor will lose the ability to become a permanent resident of the United States.
What Happens After the I-829 Form is Approved?
Once the I-829 Form is approved, the EB-5 investor, their spouse, and their unmarried children under 21 become permanent resident of the United States of America. This status grants EB-5 investors many rights and privileges, including the ability to live and work in the United States, to own property, attend public school and colleges, and be protected by the laws of the United State and of the State where the EB-5 investors reside.
For more information about the I-829 Form and the EB-5 Immigrant Investor Program, consider consulting the following resources:
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ATLANTA (April 2025) – Peachtree Group (“Peachtree”) has successfully secured U.S. Citizenship and Immigration Services (“USCIS”) approval for four regional centers:
These approvals allow Peachtree to independently structure and sponsor EB-5 projects within the designated territories, streamlining the investment process and enhancing efficiency in bringing deals to market.
The approved regional centers cover the continental U.S., giving Peachtree a national footprint to expand its EB-5 program. With these approvals, the firm plans to scale its EB-5 efforts, increase deal volume, and seamlessly integrate EB-5 capital into its broader investment strategy.
Peachtree launched its EB-5 program in 2023 with the appointment of Adam Greene as executive vice president. Since then, the program has received three I-956F approvals for hotel developments, including:
The Regional Center approvals, granted by USCIS, represent a critical milestone in facilitating EB-5 investment opportunities. Previously, Peachtree relied on third-party regional centers, which added complexity and extended processing times. Now, with its own approved regional centers, the firm can directly manage and file EB-5 investments, significantly reducing timelines and enhancing control over its platform.
“These approvals mark a major milestone for Peachtree, solidifying our ability to independently execute EB-5 transactions and accelerate our investment initiatives,” Greene said. “With this expanded capacity, we can efficiently sponsor and structure projects, further driving economic development and job creation across the country.”
Peachtree has built a strong reputation in commercial real estate investment, and the newly established regional centers align with its long-term vision of diversifying and optimizing its capital sources.
"Implementing an EB-5 program is an excellent way to access low-cost capital, diversify our funding sources and invest in job-creating projects across the country," said Greg Friedman, Peachtree's CEO and managing principal.
The EB-5 visa program allows foreign investors to obtain a green card in exchange for making a significant investment in a new commercial enterprise that creates jobs in the U.S. Under the program, foreign nationals who invest a minimum of $800,000 in a U.S.-based project that creates or preserves at least 10 full-time jobs for U.S. workers are eligible to apply for permanent residency in the U.S.
"Looking ahead, we are committed to expanding our EB-5 footprint by increasing the number of qualifying projects and deepening our engagement with EB-5 investors. With a proven investment track record, national reach and execution expertise, Peachtree is well-positioned to leverage these approvals and solidify its leadership in the EB-5 investment sector," Greene added.
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ATLANTA (April 28, 2024) – Peachtree Group("Peachtree") has received its I-956F approval from U.S. Citizenship and Immigration Services (USCIS), the government agency that oversees the EB-5 Immigrant Investor Program, for the currently under construction SpringHill Suites by Marriott in Bryce Canyon, Utah.
The I-956F approval, granted by USCIS, marks a crucial step in Peachtree’s ongoing efforts to facilitate investment opportunities through the EB-5 program, which is designed to promote economic growth and job creation in the U.S.
“Securing USCIS approval for this project marks an important milestone,” said Adam Greene, executive vice president of EB-5 at Peachtree. “It highlights our continued focus on structuring and originating capital for high-quality developments that generate economic impact and long-term value for investors and communities.”
Peachtree originated $16.95 million in floating-rate construction financing over a three-year term for the development of a 127-room SpringHill Suites in Bryce Canyon, Utah. The hotel will be located about 10 minutes from Bryce Canyon National Park, one of the most iconic natural attractions in the United States. Known for its dramatic geological formations, the park draws more than 2 million visitors annually. The hotel is expected to be completed by mid-2025.
This is the third hotel development for which Peachtree has received I-956F approval, having previously secured it for its Home2 Suites by Hilton development in Boone, N.C.,and TownePlace Suites by Marriott in Palmdale, Calif.
“With strong travel demand, limited new supply and favorable market tail winds, well-located, newly developed assets are positioned to out perform their competitive set,” said Greene. “Construction is already underway, reducing project risk, and the firm has retained an equity stake aligned with our EB-5 investors — reinforcing our commitment and directly tying our success to theirs.”
Peachtree launched its EB-5 program in 2023 as a key financing tool to support job-creating projects nationwide. The firm remains committed to delivering high-quality investment and development opportunities through its expanding portfolio of EB-5 projects.
The EB-5 visa program allows foreign investors to obtain a green card in exchange for making a significant investment in a new commercial enterprise that creates jobs in the U.S. Under the program, foreign nationals who invest a minimum of $800,000 in a U.S.-based project that creates or preserves at least 10 full-time jobs for U.S. workers are eligible to apply for permanent residency.
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Navigating the immigration process can be overwhelming, especially for international students and professionals looking to secure their future in the United States. Lance Lee, the Director of Asia-Pacific EB-5 for Peachtree Group, shares his personal journey of coming to the U.S. as an international student, facing the challenges of obtaining a green card, and ultimately using the EB-5 program to secure his future. This is his story of perseverance, career transformation, and the profound impact that obtaining U.S. citizenship has had on his life and family.
Lance Lee's EB-5 Journey: From Student to U.S. Citizen
Lance Lee’s immigration journey began in 2008 when he arrived in the U.S. as an international student, facing the challenges of securing a job during a tough economic time. With his work visa options limited, Lance’s parents urged him to consider how long it might take to obtain a green card, and the answer wasn’t promising. Many of his friends faced decade-long waits for permanent residency. It was his mother’s practical advice “Time is money” that led him to explore alternatives. In 2011, Lance invested in the EB-5 Immigrant Investor Program, and just eight and a half months later, he received his green card. By 2015, his investment was returned, and he had successfully built his American family, becoming a U.S. citizen with two children born in the U.S.
Lance’s decision to apply for an EB-5 visa instead of relying on traditional student and H1-B work visas was fueled by the realities of the long wait for green cards, especially for applicants from China and India. After graduating in 2010, Lance was left with the daunting prospect of being tied to one employer for years under the H1-B system while waiting for a green card. The EB-5 program provided a faster and more secure path to permanent residency, allowing Lance the freedom to pursue a career that matched his passions, without the restrictions of a work visa.
One of the key reasons Lance turned to EB-5 was the limitations of H1-B visas, which often left workers vulnerable to sudden job loss. He shared stories of friends who, while traveling abroad, were caught off guard by emails informing them of their layoff, leaving them with just 60 days to find a new job or face losing their visa status. With EB-5, Lance was able to bypass these concerns, enabling him to make career decisions with confidence and travel freely without the constant anxiety that comes with the limitations of temporary work visas.
Lance’s journey also taught him valuable lessons about the EB-5 process, and he offers key tips for prospective investors. He emphasizes the importance of partnering with a reputable immigration attorney and recommends visiting the regional center before investing, to establish trust and gain a better understanding of the project. He breaks the EB-5 process into three stages: obtaining a temporary green card, securing the permanent green card, and finally receiving the investment back. For each stage, Lance stresses the importance of being patient and informed, ensuring that the investment meets job creation requirements and understanding how to eventually retrieve the invested funds.
Looking back, Lance reflects on the significant impact the EB-5 program has had on his life and his family’s future. Living in Kuala Lumpur, Lance and his family enjoy the flexibility of being U.S. citizens while gaining valuable cultural exposure in Asia. His children have had the opportunity to travel and learn from different cultures—experiences that wouldn’t have been possible if he had been stuck in a decade-long wait for a green card. Lance’s journey highlights the freedom that comes with making timely decisions and choosing the right path for both personal and professional growth. “Time is money,” he concludes, echoing his mother’s wisdom, as his decision to pursue the EB-5 program allowed him to shape the life he and his family now enjoy.
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