Origin
In 1990, under section 203(b) (5) of the Immigration and Nationality Act (INA), 8 U.S.C. § 1153(b) (5), Congress created the fifth employment-based preference (EB-5) immigrant visa category to stimulate the U.S economy through job creation and capital investment by qualified foreign investors who wish to immigrate to the United States with permanent residency upon fulfillment of program requirements.
In 1992 Congress created a pilot program to encourage immigration through the EB-5 program. Currently there are 3,000 visas set aside annually for foreign investors who applied through USCIS designated Regional Center Investment Program.
EB-5 Criteria
The are 3 basic requirements for an EB-5 Visa approval:
-
The investor must have invested $500,000 or $1,000,000 in an authorized project. The amount depends on whether the area is classified as a targeted employment area (TEA) typically designated by the State. If the project is within TEA the minimum investment is $500,000
-
The project must create or preserve full-time employment for at least 10 qualified U.S. workers per investor.
-
The investor must document the legal acquisition of investment funds.
While there are no explicit restrictions surrounding the type of investments that qualify for EB-5 investing, traditionally commercial real estate construction projects, growth and expansionary projects, energy projects, and distressed companies have all qualified for EB-5 financing.
For More Information:
Visit the USCIS Website.