EB-5 Visa Program

The EB-5 visa provides qualified foreign investors with the opportunity to earn a conditional, or temporary, two-year green card in return for investing $800,000 (based on current USCIS guidance) in projects located in high unemployment areas, or $1,050,000 (based on current USCIS guidance) outside those areas, that create at least ten permanent full-time jobs for U.S. workers.

The EB-5 Program is administered by U.S. Citizenship and Immigration Services (“USCIS”).

The EB-5 Program Origin and Purpose

Congress created the employment-based fifth preference immigrant visa category (“EB-5”) in 1990 to benefit the U.S. economy by attracting investments from high-net-worth foreign nationals in return for lawful permanent resident status, commonly referred to as “green card”. Congress intended to create and sustain American jobs by infusing foreign investment into the U.S. economy.

The Immigration and Nationality Act (INA) sets aside 10,000 visas each fiscal year and USCIS has allocated a quota of 700 green cards per country each fiscal year.

Pursuant to the EB-5 Program, foreign nationals may pool their investments in economic entities (public or private) known as “Regional Centers” and claim credit for direct or indirect/induced job creation. Foreign nationals and their qualifying dependents initially receive conditional permanent resident status for a 2-year period, and if the investment and job creation requirements are thereafter satisfied, the conditions are removed, and unconditional lawful permanent resident status is granted.

The minimum investment requirement under the EB-5 Program is $800,000 (based on current USCIS guidance) in a high unemployment areas and $1,050,000 (based on current USCIS guidance) outside those areas. Investments under the EB-5 Program must be at-risk, i.e. while the investments can be secured by the assets of the project, the return of investment cannot be guaranteed.