In 1991, Congress created the EB-5 visa program to benefit the U.S. economy and create new jobs by encouraging foreign nationals to invest in the U.S.  To qualify for an EB-5 visa, the individual must establish that (1) he or she is coming to the U.S. to invest in a new commercial enterprise, (2) the investment occurred after November 29, 1990 (the date the EB-5 program became effective), and (3) this ongoing enterprise will benefit the U.S. economy.

Once granted an EB-5 visa, the individual, his/her spouse and children (under 21) are automatically granted conditional residency, which becomes permanent after 2 years.  After 5 years in EB-5 status, an individual can apply for U.S. residency.   There are 10,000 EB-5 visas available each year – 3,000 of which the USCIS sets aside for individuals who invest in approved “targeted employment” areas.  “Targeted employment” typically refers to rural areas or areas that suffer from extremely low employment rates; each State’s Department of Commerce publishes a list of approved “targeted areas.”   Note that the targeted employment plan is set to expire on September 30, 2008.

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