What Is EB-5?
Investors (and their spouses and unmarried children under 21) are eligible to apply for a Green Card (permanent residence) if they:
- Make the necessary investment in a commercial enterprise in the United States; and
- Plan to create or preserve 10 permanent full-time jobs for qualified U.S. workers.
USCIS administers the EB-5 Immigrant Investor Program, which was created by Congress in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors. Under a program first enacted as a pilot in 1992 and regularly reauthorized since then, investors may also qualify for EB-5 classification by investing through regional centers designated by USCIS based on proposals for promoting economic growth.
On December 27, 2020, President Trump signed a law extending the Regional Center Program through June 30, 2021. Now with President Biden signing EB-5 Reform and Integrity Act of 2022 (the “Integrity Act”), the Program is effective through September 30, 2027.
What Does The Integrity Act Mean For An EB-5 Visa Holder Or Applicant?
- President Joe Biden signed the Integrity Act on March 15, 2022, making the minimum EB-5 investment amount $1,050,000 ($800,000 if the EB-5 project is an infrastructure project or located in a Target Employment Area (TEA). The previous minimum investment amount for a TEA was $500,000.
- Infrastructure projects are public works projects where a government entity is the entity receiving EB-5 capital from the new commercial enterprise.
- TEAs include rural areas or areas of high unemployment. TEAs must qualify under the same requirements as the previous EB-5 regulations.
- Good faith investors are able to complete a permanent resident process even if there was a debarment or termination of an EB-5 entity or Regional Center or if the Regional Center Program expires.
How Does This Program Work?
All EB-5 investors must invest in a new commercial enterprise that was established:
- After November 29, 1990; or
- On or before November 29, 1990, that was:
- Purchased and the existing business is restructured or reorganized in such a way that a new commercial enterprise results; or
- Expanded through the investment, resulting in at least a 40% increase in the net worth or number of employees.
Commercial enterprise means any for-profit activity formed for the ongoing conduct of lawful business, including:
- A sole proprietorship;
- Partnership (whether limited or general);
- Holding company;
- Joint venture;
- Corporation;
- Business trust; or
- Other entity, which may be publicly or privately owned.
This definition includes a commercial enterprise consisting of a holding company and its wholly-owned subsidiaries if each such subsidiary is engaged in a for-profit activity formed for the ongoing conduct of a lawful business. However, the definition does not include noncommercial activity, such as owning and operating a personal residence.
USCIS administers the EB-5 Program. Under this program, investors (and their spouses and unmarried children under 21) are eligible to apply for a Green Card (permanent residence) if they:
- Make the necessary investment in a commercial enterprise in the United States; and
- Plan to create or preserve 10 permanent full-time jobs for qualified U.S. workers.
Contacting An Immigration Lawyer If you have questions about EB-5, you should contact an EB-5 attorney. Leslie I. Snyder, P.A.’s immigration lawyers are here for you. Our firm has represented thousands of clients before the Department of Homeland Security, Bureau of Immigration and Citizenship Services, Immigration and Customs Enforcement, and more. Skilled lawyer Leslie Snyder has been assisting clients with EB-5 Visas since 1991. To learn more or schedule a consultation, call us today at (305) 859-9580 or contact us online.