Congress created the employment-based fifth preference immigrant visa category (“EB-5”) in 1990 to benefit the U.S. economy by attracting investments from high-net-worth foreign nationals in return for lawful permanent resident status, commonly referred to as a “green card.” Congress intended to create and sustain American jobs by infusing foreign investment into the U.S. economy.

The Immigration and Nationality Act (INA) sets aside 10,000 visas each fiscal year (October 1 to September 30) for immigrant investors along with their spouses and unmarried children under the age of 21. USCIS has allocated a quota of 700 green cards per country each fiscal year.

Pursuant to the EB-5 Program, foreign nationals may pool their investments in economic entities (public or private) known as “Regional Centers” and claim credit for direct or indirect/induced job creation. Foreign nationals and their qualifying dependents initially receive conditional permanent resident status for a 2-year period, and if the investment and job creation requirements are thereafter satisfied, the conditions are removed, and unconditional lawful permanent resident status is granted.