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EB5

About the EB-5 Visa Classification

USCIS administers the EB-5 Immigrant Investor Program, created by Congress in 1990 to stimulate the U.S. economy through job creation and capital investment by foreign investors. Under a program first 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 Dec. 27, 2020, President Trump signed a law extending the Regional Center Program through June 30, 2021.

  • USCIS policy on EB-5 adjudications is in Volume 6, Part G of the USCIS Policy Manual.

  • All EB-5 investors must invest in a new commercial enterprise that was established:

  • After Nov. 29, 1990; or

  • On or before Nov. 29, 1990, that was:

    • Purchased and the existing business is restructured or reorganized in such a way that a new commercial enterprise results; or

    • Expanded through the investment, resulting in at least a 40% increase in the net worth or number of employees.

  • Commercial enterprise means any for-profit activity formed for the ongoing conduct of lawful business, including:

  • A sole proprietorship;

  • Partnership (whether limited or general);

  • Holding company;

  • Joint venture;

  • Corporation;

  • Business trust; or

  • Other entity, which may be publicly or privately owned.

  • This definition includes a commercial enterprise consisting of a holding company and its wholly owned subsidiaries, if each such subsidiary is engaged in a for-profit activity formed for the ongoing conduct of a lawful business.

  • This definition does not include noncommercial activity, such as owning and operating a personal residence.

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