EB-5. Not since the movie “E.T.” has a pair of letters (and now a number) so defined the impact someone from a foreign land can have in our country.
EB-5 helps open the path to citizenship for immigrants making financial investments in the United States. But many developers and businesses don’t understand how the program can make a major impact on their own growth and expansion efforts.
What is EB-5?
Here’s a quick re-cap for those unfamiliar with the EB-5 program:
- Officially known as “The Immigrant Investor Program”, EB-5 was created by Congress in 1990 to encourage wealthy immigrants to invest in new commercial ventures or support existing businesses in the United States. The goal was to create more jobs and stimulate capital investment in communities across the country.
- Immigrants investing through the program may ultimately gain permanent residence in the U.S. for themselves and their immediate family if a project’s goals are achieved.
- Participants are required to make a capital investment of either $500,000 or $1,000,000, depending on where the investment takes place.
- The investment must create 10 full-time jobs.
- 10,000 EB-5 immigrant visas are available annually.
- Nearly 95% of visas go through “Regional Centers” that are designated by United States Citizenship and Immigration Services.
How Regional Centers Can Assist You
Regional Centers are a key component of EB-5’s success over the past 25 years. While immigrants participating in the program can make a direct investment in a company, a popular alternative is to invest through one of the 900 or so USCIS-approved Regional Centers across the country. We are fortunate to have 10 Regional Centers in our home state of Ohio.
In addition to helping individual immigrant investors, Regional Centers also benefit U.S. businesses by:
- providing below-market development financing to developers, business owners, universities, and public entities;
- finding investors for the U.S. companies looking for funding;
- managing the investment paperwork and tracking job creation on behalf of the investor and the borrower;
- partnering with other economic-development groups throughout the state;
- providing support services like project assessment, professional team development, deal structuring and promotion;
- combining EB-5 funds with a company’s other capital financing resources.
We at ASIST Translation Services support EB-5 Regional Center efforts by providing certified professional translations including, but not limited to, immigration and legal documents, 24/7 interpreting services (on-site, telephonic and video), cultural training and more – in over 240 languages.
We know EB-5 can be a complex process, but we also know it is well worth the effort. It has generated more than $2.5 billion in capital investment and created tens of thousands of new jobs across the U.S., providing a financial boost to many businesses and local economies.
Don’t make the mistake of thinking EB-5 only benefits the individual immigrant investor. It can also help with your company’s growth and development by offering competitive financing and support assistance.
To learn more about the EB-5 immigrant investor program, contact one of the Regional Centers we work with, MidAmerican Global Ventures at www.midamericanglobal.com
To learn more about ASIST Translation Services, Inc., visit us at www.asisttranslations.com