Things to Know About the EB-5 Immigrant Investor Program

Readers are likely aware of the EB-5 Immigrant Investor Program that brings foreigners who have money to invest to the United States. The investments they make must be in a certain type of business and must, among other things, result in the creation of 10 full-time jobs for individuals in the United States. In exchange, the investor, as well as the investor’s family, will receive a green card.

The jobs created must be in an area that meets certain requirements. In addition to 44 states, regional centers are also located in Guam and the District of Columbia. While readers may envision a poor rural area as the most likely location for one of these regional centers to exist, the reality is that areas of Manhattan could qualify. This is because eligibility is determined at the state level and based on an area having a high unemployment rate — specifically, the rate must be at least 150 percent of the national average in the U.S.

The program, which is overseen by the U.S. Citizenship and Immigration Services agency, is particularly popular with Chinese nationals. In fact, in 2014, they claimed approximately 90 percent of the visas granted.

Though designed to compete with an immigrant investor program in Canada, the program — created in 1990 — did not become popular until after the market crash of 2008. To put this in perspective, shortly after applications began to be accepted last spring, the visa hit its 10,000 annual quota. In contrast, in all of 2003, only 64 visas were issued.

Changes could be on the horizon for the program, which is due to be renewed. Since the program is so popular, it is likely to receive renewal, possibly along with some modifications. We will provide specifics regarding those changes if, and when, the program is renewed.