USCIS Regulation for EB-5 Regional Centers
To encourage immigration through the EB-5 category, Congress created the temporary Regional Center Pilot Program in 1993. The Pilot Program was created to stimulate economic activity and to create jobs for U.S. workers, while simultaneously giving eligible aliens the opportunity to become lawful permanent residents.
A Regional Center is defined by “any economic unit, public or private, which is involved with the promotion of economic growth, including increased export sales, improved regional productivity, job creation or increased domestic capital investment.”
In order to receive Regional Center designation from the USCIS, the business entity must submit a proposal along with business plans and other detailed documents showing how it plans to focus on the economic impact in a specific geographic region. The proposal must show in detail how the EB-5 investment funds will be used to create direct and indirect jobs. The most important requirement from USICS that all Regional Center applicants should keep in mind is that the business (or “project”) applying for Regional Center designation approval, must prove that ten (10) permanent jobs will be created for a minimum of two years per every EB-5 immigrant investor.
Given the economic climate of the last few years we have seen the number of approved EB-5 Regional Centers grow from 30 to almost 150 in just the last 18 months and we expect this number to grow to more than 200 by this time next year. The explosive growth of these various Regional Centers, who are looking to compete for the same number of prospective investors, can lead to cheesy sales tactics and gross misrepresentation in order to get you to commit to investing into a particular project.
By paying close attention to the concerns of the EB-5 investors and USCIS’ requirement’s, we recommend and provide information on Regional Centers and EB-5 Projects that have met specific requirements and have a history of success. Please contact Fred Burgess or Joe Sloboda to arrange a personal consultation via email at firstname.lastname@example.org or by calling our offices at +1-954-727-9800.
You must be logged in to post a comment.