eb5exclusive

Outwardly, the EB-5 visa program purports to be a useful way for an individual or family looking to immigrate to the U.S. to receive a green card. But in a period defined by its economic instability, the immigration program offered by the U.S. Citizenship and Immigration Services is proving to provide a promising route for giving a jolt to local economies.

Because of the high national unemployment rate and demands to reduce government spending, communities and businesses around the country are exploring new routes for an economic stimulus.

“Taxpayers want relief as soon as possible, preferable not in the form of another questionable big ticket bailout proposal,” say representatives from the Los Angeles immigration attorneys Darren Silver and Associates.

They add, “The EB-5 program is a creative, mutually beneficial cooperation between our struggling economy and wealthy foreign investors that seems to many like a step in the right direction.”

Largely operating through local EB-5 regional centers, the investor visa program works by infusing a large amount of foreign capital into a given community, increasing the potential production of goods and services the area can provide without consuming federal dollars.

In total, the number of approved EB-5 visas has nearly tripled between fiscal years 2008 and 2009 from 1,443 to 4,218 visas, according to the US State Department.