Recently, the U.S. Department of State indicated that in fiscal year 2007, the U.S. Citizenship and Immigration Services (USCIS) approved a total of 803 conditional EB-5 green card applications, compared to only 247 in 2004. In 2008, 1,443 investors and their immediate family members were granted EB-5 visas; by 2009, 4,218 investors and their family members had obtained EB-5 visas. This represents significant growth, yet it remains far below the annual quota of 10,000 EB-5 visas.
The leadership of Worldway Group analyzes that the U.S. EB-5 program will become a popular pathway for investment immigration, including for private entrepreneurs from China. Under this program, by investing $500,000 in remote or underdeveloped areas of the United States, the investor and their immediate family members are eligible to apply for a green card. USCIS has revealed that the program's annual quota could reach up to 10,000 after 2011, aiming to attract nearly $2 billion in foreign investment.
This investment immigration program, launched by the U.S. immigration authorities in the late 1990s, requires not only a $500,000 investment in economically distressed areas of the U.S. but also the creation of at least 10 new jobs within a few years for the investor to obtain a green card.
Nevertheless, this program is undoubtedly highly attractive to private entrepreneurs from developing countries who aspire to obtain a U.S. green card. For those who wish to live in the United States and contribute to the country, the U.S. EB-5 program offers a truly wonderful opportunity. It drives economic growth and creates job opportunities. Currently, the program faces relatively little criticism from anti-immigration advocates.
In recent years, this program has attracted many foreign entrepreneurs to invest in sectors such as U.S. agriculture, tourism, renewable energy, education, and transportation. The common practice is for developers to collaborate with local governments to apply to the immigration authorities for a “Regional Center” in a distressed area, and once approved, to seek investment from overseas. The 17 “Regional Centers” across the United States have attracted approximately $500 million in foreign capital to date.
