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THE PROGRAM
Overview
The U.S. immigrant investor program provides for the issuance of "conditional" or temporary (two year) green cards to qualifying investors and their families who invest a minimum of US $1 million (US$500,000 in designated target areas) in businesses that create at least ten full-time permanent jobs for U.S. workers. Provided that the investment is maintained and achieves the job requirements of the Program, "unconditional" or permanent green cards will be issued after two years.
Advantages of the Program
The U.S. immigrant investor program is the most flexible in the world. The U.S. has no requirements as to age, business training and experience, or language skills. Permanent residents need not be continuously and physically present in the United States, and they can maintain business and professional relations in their country of origin.
The U.S. immigrant investment program also allows investors a great deal of freedom because it does not require immigrant investors to manage their investment on a daily basis, but rather, to 'actively engage' in a business enterprise, meaning they can be limited partners and pursue other professional or personal ventures.
Moreover, should the investor and his or her family elect to become U.S. citizens, the time spent as conditional permanent residents is credited towards the five year lawful permanent residency requirement for U.S. citizenship. As a permanent resident, the investor and his or her family are free to return to their homeland for visits or business purposes, as long as a residence is maintained in the United States.
Benefits of the EB5 Investor Visa
Upon receipt of conditional permanent resident status, the investor's family (spouse and children under the age of 21 at time of application) are entitled to the same benefits as other lawful permanent residents. Some of these benefits include:
- Living and working anywhere in the U.S.
- No employment authorization to accept employment
- Ability to develop and run your own business
- Sponsor green cards for your relatives
- Travel outside of the United States and return to the United States without a visa
- Education benefits of permanent residents such as admission to state universities at resident costs
- Become a U.S. citizen once you have been a permanent resident for more than five years
Program History
The U.S. immigrant investor program, which grants an EB5 investor visa, was introduced in 1990 and attracted a relatively small number of immigrants. In 1993, the U.S. government modified its 1990 immigrant investor program. It retained the 1990 regulations, but established a Pilot Program under which "regional centers" designated by the Immigration and Naturalization Service (INS), now the U.S. Citizenship and Immigration Services (USCIS), could be established. In a regional center, the job creation requirements are more flexible and "passive" investment opportunities (via limited partnerships) for a substantial number of potential immigrant investors are created. Regional centers have been allotted 5,000 of the total 10,000 EB5 visas available through the U.S. immigrant investor program on an annual basis.
The Pilot Program established in 1993 was scheduled to expire in 1998, but has been extended without interruption twice, most recently to September 30, 2009. The American Immigration Lawyers Association (AILA) and Association to Invest in the USA (IIUSA), a trade group is currently lobbying to make the Program permanent.
