Asian Journal- The Filipino-American Community Newspaper

AN unpredicted and subtle boost to the Nation’s Economy is coming forward from an immigration option available to foreign nationals looking to obtain US Permanent Residency. The EB-5 immigrant visa option allows wealthy foreign nationals to invest at least $500,000 into the US economy, creating jobs for America and Residency for the investor.

"The EB-5 Regional Center investment program gives investors a safe and secure option for permanent residency".

The EB-5 Visa Investment immigration Program allows for an expedited and streamlined path for US Permanent Residency for foreign nationals investors. In turn, the US receives an infusion of $1million or $500,000 (certain locations) per Investor. In addition, and greatly more important in today’s economy, the Investor or his/her Business receiving the investment must show a creation of 10 new US jobs.

As a brief history, the Federal Government created the EB-5 Visa in 1991 so as to encourage foreigners to invest in the US The program required an investor to invest $1million or $500,000 in certain locations into a business in the USA that would create 10 full time jobs paying at least the minimum wage. Once done, the investor and his or her family would be entitled permanent residence in the USA, "Green Card." In 1993, the predecessor to the USCIS provided to potential immigrants a second option within the EB5 program, entitled, Regional Center"Regional Center Pilot Program. In this new configuration of EB-5, the investor would invest into a pre-existing fund, or Management Company or Business as approved by the US government. These Regional Centers are typically diversified funds or private Business development projects that allow for an investor to infuse a set investment and in return acquire a small ownership interest. The Regional Centers must utilize this foreign infused investment to create 10 US direct or indirect jobs.

In 2004, the program was reorganized to allow for many levels of protection for the investors. The program was classified as a "pilot" program and has been extend by Congress continuously every 3 years.

The numbers of approved Immigrant Petitions under the EB-5 program have been consistent over the last year, ranging from 400 to 600 applications annually. However, 2009 saw a dramatic increase in EB-5 petitions.

Specifically, in 2007, the US Citizen and Immigration Services (USCIS) approved 473 petitions for foreign investors. That figure rose to 640 in 2008, and jumped to 1,256 in 2009.