Immigration Fact of the Week Feb. 8

Eb 5 visaQuestion:

What is the EB-5 visa?

Answer:

The EB-5 visa is an employment-visa category that provides Green Card to foreign investors.

The EB-5 Immigrant Investor Visa program was created in the Immigration Act of 1990. The Act designated 10,000 Green Cards per year to foreign nationals who will invest at least $500,000 in a high-unemployment area or at least $1 million anywhere else in the United States. Investors have to prove that they will create at least 10 jobs.

Since its establishment, the EB-5 program has contributed $6.8 billion in U.S. investment and created around 49,300 jobs. In 2012, the number of approved EB-5 visas was 3,677, which was a vast increase from 69 in 2002.

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