EB-5 Update

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Many foreigners have made an opportunity of the United States’ economic downturn of the past three years, but many more still are unaware of the Immigrant Investor Program, also known as ‘EB-5’, which allows foreigners who invest as little as $500,000, and create 10 jobs in the United States, to obtain a green card. The prescribed 10,000 per year EB-5 quota has never come close to being used, however, as interest in this program grows, the United States Citizenship and Immigration Services (USCIS) is responding with new forms, fees and substantive rules in an effort to streamline the application process and provide a structure for oversight where it had been lacking. This clearer guidance will hopefully have its intended effect of unleashing the full potential of the EB-5 to infuse the United States economy with billions of dollars in investment and generate thousands of new jobs.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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