“The EB-5 visa category started in 1991. Regional Centers started in 1993. During the mid 1990-’s several companies competed for investment capital from foreign investors for the EB-5 program. Most of the companies didn’t offer sound investments, and investment opportunities, didn’t raise the full $500,000 investment capital or hire the required number of employees. USCIS wanted to stop these abuses of the program, this involved law suits and the EB-5 program was effectively placed on hold between 1999 and 2002. In 2002, Congress passed a new law to protect the pre-1999 investors. Also, in 2002, in a case commonly known as “Chang” the 9th Circuit Court of Appeals ruled that USCIS may not apply their new rules retroactively. In August of 2003, USCIS began approving regional center petitions for the first time since 1998.
In January 2005, to improve and expedite EB-5 regional center related applications USCIS established an Investor and Regional Center Unit, IRCU, the unit being the sole adjudicative jurisdiction for Regional Center applications pursuant to the Immigrant Investor Pilot Program for purposes of approval, denial and Requests for Evidence (RFE’s). It is now common knowledge that EB-5 immigration petitions based on sound investments in designated regional centers with the full $500,000 in an at-risk investment as prescribed by the rules, with proper supporting documentation, should be approved.”
(Source: www.eb5greencard.com)
The EB-5 visa allows for a non U.S. Citizen living outside of the U.S. to obtain permanent U.S. residency by investing $500,000 or $1,000,000 US dollars into a government approved EB-5 project. Projects needing funding, are carefully screened through a designated EB-5 regional center, and if they qualify, are given funding from investors. The benefits of the Eb-5 visa program extend to your spouse and any children under 21. Citizenship may be granted after five years of having a green card.
By obtaining an EB-5 investment green card, you will be able to enjoy many of the benefits that U.S. Citizens do. You will be able to take any job, run a business, or retire and live anywhere in the U.S. you choose.
Additionally, each family member may also apply for U.S. citizenship after having their green card for 5 years.