History of the EB5 Program
The EB5 Program is a United States Immigration program that give citizens of other countries the chance to seek permanent U.S. residency through "Job Creation" in the U.S.
The EB5 Program was originally created by the U.S. Congress in 1990 to stimulate the U.S. economy through job creation by immigrant investors. The prefix "EB" - stands for "Employment Based" and the "5" equals "Fifth Preference". The "Fifth Preference" is a special visa category that qualifies certain foreign investors in U.S. commercial enterprises for United States Green Cards providing such investors and their immediate families the right to permanently live and work in the United States, and if they wish , to obtain United States Citizenship.
The intention of the EB5 Program was to stimulate the U.S. economy through the creation of jobs; therefore the minimum requirement of any qualifying investment is that it creates at least 10 U.S. jobs per EB5 investor.
The EB5 Program is constantly being changed and updated to reflect changes in the United States Immigration initiatives and evolving laws with monetary, security & exchange, homeland security, and immigration legislation.
There are 10,000 EB5 immigrant visas available annually. The investment amounts for EB5 Programs are either $500,000 or $1,000,000. Some changes that were incorporated in 1998 include requiring investors to prove that their investments in the program come from lawful sources. They must also demonstrate that they are actively involved in the EB5 Project; and also EB5 investors cannot be guaranteed the return of capital or any other returns with respect to any EB5 investments.
The Main Parties in the EB5 Process:
The Regional Center: The USCIS approved entitiy responsible for raising EB5 capital, counting direct and indirect jobs created, and induced job creation that results from the EB5 project.
The New Commercial Enterprise (NCE) : This is the entity created in which the E5 investor will make his capital contribution to the EB5 program.
The Job Creating Enterprise (JCE) : This is the entity that will be creating the jobs necessary for the investor to qualify under the EB5 program.
The EB5 Investor: The EB5 investor is the end user of the EB5 program, whom is a foreign national seeking to qualify as an immigrant investor. The minimum amounts are $500,000 and up to $1,000,000. (or such future amounts as determined by the USCIS)
** The above information is for informational purposes only and is not intended as a direct timeline & summary for this particular EB5 project. This some of this information was provided by the EB5 Affiliate Network's Informational Brochures and summarized for use in this website.