The United States of America “The land of opportunity” has one of the world’s most powerful economies, and the United States passport is one of the strongest sought-after passports in the world, it remains as the source of most of the world’s grand-breaking developments in technology, business, and arts, with a diverse culture that attracts workers, students and investors from all over the world.
The Employment-based fifth preference category Investor Visa in the United States of America, commonly known as the EB-5 program, is a federal immigration program that was created by the Congress through the Immigration Act of 1990 along with four other distinct employment categories, to help grow the country’s economy and foreign capital investment through developing commercial enterprises. This program is administered by the United States Citizenship and Immigration Services (USCIS), which sets guidelines projects and monitors the compliance with immigration rules.
The Program was developed and across the years and specifically in the year of 1992, when the EB-5 Regional Center program that permits designated business entities (Regional Centers) to aggregate the capital investment from multiple investors to invest in pre-approved projects by the United States Citizenship and Immigration Services (USCIS).
The EB-5 program allows certain foreign nationals who are employment-based immigrants to become lawful residents (Get a Green Card) in exchange of investing 1 Million (or $500,000 in Targeted Employment Areas) in a new commercial enterprise that will benefit the U.S economy and create at least 10 full-time positions for qualifying employees
The program is comprised of several stages that starts with the investor locating the suitable project for their investment, investing the required capital and obtaining the conditional residency, to the final stage of removing the conditions on their residency and obtaining the unconditional lawful residency (Green Card) which leads to the America citizenship after 5 years of lawful residency in the U.S, the average time for applicants to receive their green cards is approximately 5 years.
The EB-5 Program has many benefits for investors, their spouses and unmarried children under 21 years of age, and is considered as an excellent way to obtain permanent residency status in the U.S.
The EB-5 program has clearly been of significant impact on U.S citizens and local economies which directly stimulated and benefited the U.S economy.