What is EB5 Program?
The EB-5 Program was created by the United States congress through passage of the Immigration and Nationality Act in 1990. The United States Citizenship and Immigration Services set aside 10,000 visas per fiscal year for immigrant investors to obtain citizenship through the EB-5 Program. The EB-5 Program is currently being administered by the United States Citizenship and Immigration Services (“USCIS”), an agency of the Department of Homeland Security.
The EB-5 Program was created to make visas available to foreign investors who invest $1,000,000, or $500,000 if located within a targeted employment area, in a U.S. business that creates 10 direct full time jobs for U.S. workers. In 1993, Congress created the Pilot Program to stimulate immigration under the EB-5 category. Under the Pilot Program, EB-5 investors invest through designated regional centers and are permitted to count jobs created both directly and indirectly by the qualifying investment.