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EB-5 IMMIGRANT INVESTOR PROGRAM

EB-5 IMMIGRANT INVESTOR PROGRAM

The EB-5 Immigrant Investor Program is a United States investment based Immigration program created by the Immigration Act of 1990. This program provides a method of obtaining a green card for foreign nationals who invest money in the United States. To qualify for the EB-5 Green Card, individuals must invest $1,000,000 or at least $500,000 in a “Targeted Employment Area” creating or preserving at least 10 jobs for U.S. workers.

Many countries around the world have an “Immigration and Investment” program that allows foreign nationals to obtain that country’s residency by investing in their economy.

The United States immigration and investment program is known as EB-5 which stands for Employment Based Fifth Preference.

Under the EB-5 Program, the investors must invest at least $500,000  in a project located in Target Employment Area (TEA) or  $1,000,000  in a project located outside of a TEA. Currently, all of Corsello Capital Regional Center projects are located in a TEA.

What is a Targeted Employment Area (TEA)?

United States Citizenship and Immigration Services (USCIS) defines a targeted employment area (TEA) as an area which, at the time of investment, is a rural area, (not within either a metropolitan statistical area (MSA), as designated by the Office of Management and Budget, or the outer boundary of any city or town having a population of 20,000 or more), or an area within an MSA or the outer boundary of a city or town having a population of 20,000 or more which has experienced unemployment of at least 150% of the national average rate.

If the location of the proposed new business is not a TEA, the investor has the option to gather the relevant publicly available state or federal statistics on their own and submit it with their petition for USCIS to have a new TEA determination made. There is no centralized list of TEAs.

If the foreign national investor’s petition is approved and the U.S. consulate issues the visa, the investor and their dependents will be granted conditional permanent residence valid for two years. Within the 90-day period before the conditional permanent residence expires, the investor must submit evidence documenting that the full required investment has been made and that 10 jobs have been maintained, or 10 jobs have been created or will be created within a reasonable time period

Quick History Of The EB-5 Program And Regional Center Program's Extensions

EB-5 Program Was Established

Congress creates the EB-5 Immigrant Investor Program by the passage Immigration Act of 1990

The Regional Center Program Is Created

The EB-5 Regional Center Program is established through the Immigrant Investor Pilot Program ("Pilot Program")

Extension of the Regional Center Program

The Regional Center Program (Pilot Program) is Extended for 3 years

Extension of the Regional Center Program

The Regional Center Program (Pilot Program) is Extended for 2 years

Extension of the Regional Center Program

The Regional Center Program (Pilot Program) is Extended for 1 years

Extension of the Regional Center Program

The Regional Center Program (Pilot Program) is Extended for 5 years

Extension of the Regional Center Program

The Regional Center Program (Pilot Program) is Extended for 3 years

United States Senate Judiciary Committee Hearing on EB-5

United States Senate (Judiciary Committee) holds a hearing: Reauthorizing the EB-5 Regional Center Program to Promote Job Creation and Economic Development in American Communities.

Extension of the Regional Center Program

The Regional Center Program (Pilot Program) is Extended for 3 years. Also, the word "Pilot" is removed

Short extension of the Regional Center Program

Congress Passes Continuing Resolution (CR). The EB-5 Regional Center Program until December 11, 2015

Short extension of the Regional Center Program

Congress passes a legislation, including the extension of EB-5 without any changes, through September 30, 2016.

Short extension of the Regional Center Program

The EB-5 Regional Center Program is extended to December 9, 2016

Short extension of the Regional Center Program

The EB-5 Regional Center Program is extended to April 28, 2017

Short extension of the Regional Center Program

The EB-5 Regional Center Program is extended to May 5th, 2017

Short extension of the Regional Center Program

The EB-5 Regional Center Program is extended to September 30, 2017

Short extension of the Regional Center Program

The EB-5 Regional Center Program is extended to December 8th, 2017

Short extension of the Regional Center Program

The EB-5 Regional Center Program is extended to December 22, 2017

Short extension of the Regional Center Program

The EB-5 Regional Center Program is extended to January 19, 2018

Short extension of the Regional Center Program

The EB-5 Regional Center Program is extended to March 23, 2018

Short extension of the Regional Center Program

The EB-5 Regional Center Program is extended to September 30, 2018

Short extension of the Regional Center Program

The EB-5 Regional Center Program is extended to December 7, 2018

Extension of the Regional Center Program

The EB-5 Regional Center Program is extended to September 30, 2019

Do I Qualify for EB-5?