The Employment-Based Fifth (or “EB-5”) program is an immigration investment program that provides qualified investors and their families to get U.S. Green Cards through investing in job-creating projects. The EB-5 Immigrant Investor Program is administered by the United States Citizenship and Immigration Services (USCIS). Per the EB-5 Reform and Integrity Act of 2022 (or “RIA”), the investment amount for TEA qualified projects is $800,000 and for non-TEA qualified projects is $1,050,000.
Following the 1990 immigration act, Congress created the investor visa program, which included a program that allowed foreign investors to gain permanent residency in the United States. The program was created by U.S. immigration law as a way to bring large inflows of foreign money into the United States and to meet the requirement to create new jobs for the American workforce. In 1993, the U.S. Congress established the Immigrant Investor Pilot Program to attract applicants and authorized the United States Citizenship and Immigration Services (USCIS) to establish its chartered EB-5 Regional Centers. Congress and the U.S. Citizenship and Immigration Services have made a number of reforms to the EB-5 program to prevent fraud, standardize application adjudication, streamline the application process, and devote more staff to the program. These reforms have helped attract more applicants to the EB-5 visa program.
There are three basic requirements for a foreign citizen to apply for an EB-5 visa:
1.The investor shall provide documents to prove the legitimacy of the source of funds.
2.Investors invest $800,000 or $1.05 million in a new U.S. business (or a regional center project). The amount of money depends on the region in which the firm is invested (see note).
Note: For remote areas or TEA areas, the minimum amount required is $800,000, others are $1.05 million. TEA area refers to the area where the unemployment rate in the area meets the requirement of more than 150% of the national average unemployment rate, subject to the approval letter from the state government.*
3.Investors must demonstrate that they will create at least 10 full-time jobs that will last for at least 2 years.
*The minimum investment amounts stated above are in accordance with the EB-5 Reform and Integrity Act of 2022 (“RIA”)
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