Introduction to the EB-5 Immigrant Investment Program

In 1990, Congress created the EB-5 Program to stimulate the U.S. economy through job creation and capital investment by foreign investors. Under a program initially enacted as a pilot in 1992, and regularly reauthorized since then, investors may also qualify for EB-5 classification by investing through regional centers designated by USCIS based on proposals for promoting economic growth. On May 5, 2017, the President signed Public Law 115-31 extending the regional center program through Sept. 30, 2017

This program is known as EB-5 for the name of the employment-based fifth preference visa that participants receive. USCIS administers the EB-5 Program. Under this program, entrepreneurs (and their spouses and unmarried children under 21) are eligible to apply for a green card (permanent residence) if they make the necessary investment in a commercial enterprise in the United States, and plan to create or preserve 10 permanent full-time jobs for qualified U.S. workers.

This program, taught by NYC Immigration attorney Neil Weinrib, will introduce an overview of the EB-5 program, including the legal requirements and examples of qualifying projects, and assess the mutual benefits and obligations that the program offers the U.S. economy as well as potential investors.

Learning Objectives:

1. Introduce the EB-5 program and its intended purpose generally
2. Examine the EB-5 legal requirements as applied to individual investors in various countries
3. Review examples of qualifying EB-5 projects for USCIS submission
4. Identify the potential gatekeepers that can cause problems for EB-5 applications
5. Assess the potential fraud and abuse that comes with the promise of this program
6. Explore the future direction of this program with the new administration