Permanent residency for alien investors - EB-5
Regional Centers The
typical EB-5 visa requires the applicant to invest $1 Million into a new or
existing business that will in turn create at least ten new jobs. Such a large lump sum is not feasible
for many applicants, but there is another option available for those interested
in the investment visa but do have that much capital. Certain specific areas have been
designated by the Immigration and Naturalization Service as having high
unemployment and are in need of economic stimulation. The Regional Center Pilot
Program is designed to attract the capital of immigrant investors for the
purpose of improving that particular community. Regional Centers can be defined as any
public or private economic unit engaged in promoting economic growth and
improving regional productivity.
The threshold of investment capital for these Regional Centers is
reduced to $500,000, making the EB-5 visa more affordable for applicants who
are willing to have their business based in a qualifying location. Targeted Employment Areas (TEAs) such
as rural areas with a total population under 20,000 or areas of high
unemployment (meaning that the unemployment levels are 1.5 times that of the
national average) are the geographic locations where these centers may be
located.
While
it is not required to directly create 10 new jobs, a proposal for a Regional
Center must contain a detailed description of how the investment capital will
positively impact the region in terms of promoting job growth, creating an increased
demand for goods and services, and attracting other investors to the area. The INS does require that an
independent expert analyze the data and verify that the investment can, in fact
potentially create jobs and provide economic growth to the community.
It
is best to consult with an immigration attorney before beginning the stringent
EB-5 application process. An
expert who has been involved with the creation of a successful Regional Center
can best guide an applicant through the process. If you are considering an investment into a Center that has
already been established, be sure do plenty of research to ensure that their
track record is clean, they are productive and profitable, and most importantly
operating in accordance with USCIS guidelines.
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