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Michigan county to hold meeting on EB-5 visa program
Macomb County, Michigan’s Planning and Economic Development Department is holding an event to discuss the EB-5 visa program.
The event will provide an opportunity for the area’s business, education and government leaders to discuss the program, according to the Detroit Free Press.
Specifically the event will provide a forum for the discussion of the county officials’ trip to China that will take place from November 26 to December 6. In addition, previous trips abroad regarding the EB-5 visa program will be discussed.
The ultimate goal of the trip is to establish an EB-5 regional center in the county, according to the news source.
The EB-5 visa program was created to help American businesses gain access to foreign capital. If foreign nationals invest $1 million (or in some specially designated areas, $500,000) and that investment results in the creation or preservation of 10 jobs then the investor becomes U.S. green card eligible.
According to the U.S. Citizenship and Immigration Service, most EB-5 investors come from China, accounting for 1,979 of the 4,218 participants in the program during the 2009 fiscal year.