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Memorandum
To : EB-5 Investor Program FileFrom : Robert Weihe, Esq.RE :
Brief on USCIS EB 5 investor program - updated May 9, 2013
Immigrant Investor Program (EB-5) SummaryThe EB-5 visa is an
immigrant investor program created by the Immigration Act of 1990
and administreredby the United States Citizenship and Immigration
Service (USCIS). The program is a vehicle for the UnitedStates of
America (US) to stimulate the economy focusing on job creation and
capital investment byforeign investors.
This program allows foreign nationals to earn a permanent
resident visa, for themselves and theirimmediate family, by
investing USD 1,000,000 in a qualifying business enterprise, by
virtue of a project,which will create 10 new U.S. jobs or save 10
existing jobs. The amount of investment may be lessened if the
geographical investment area is categorized as a Target Employment
Area. Investors approved byUSCIS will be required to make a
subsequent filing within 21 24 months of landing in the U.S. The
filingmust prove that the Investor sustained the investment, and
that the investment created the 10 jobs required.
Foreign Nationals may invest directly in new or distressed
enterprises or through an approved RegionalCenter project. The
general experience for EB 5 has shown more success and opportunity
in investmentsthrough a Regional Center (RC).
Brief on Regional Center
The Regional Center is an investment promotion entity (public,
private or non-profit) approved by USCISto offer qualifying
investment opportunities in a defined geographic area, in specific
industrial/commercialcategories, that comply with the EB-5 program.
There are now over 125 approved regional centers in theU.S. In FY
2009-10, 1274 EB-5 petitions were approved by USCIS generating $700
million in projectinvestment. It is projected that as much as $1
billion in investment dollars will flow into the U.S. throughthis
program in FY 2010-11.
According to the USCIS archives, the agencys target date to
decide on applications is 4 month, where itsactual target date is 9
to 10 months. However, we have done additional research through
market soundingand average/actual time is more in the vicinity of
12 months. There have been few cases reported to havetaken closer
to two years for Regional Center approval. The following is a
timetable for internal planningpurposes.
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Preparation of application: 2 3 months Processing by USCIS: 6 8
months Regional Center Approval: 8 12 months
Types of EB-5 Projects
EB-5 projects assume many different business models and operate
within many different industries. Typesof EB-5 Projects include,
but are not limited to:
Mixed use retails Hotel Sports stadiums Restaurants Agricultural
developments including wineries and almond farms Electric vehicles
Manufacturing Bio-technology and medical technologies
Casinos Entertainment venues Convention centers Office
buildings
Local EB 5 Regional Centers
As of the date of this memorandum, Puerto Rico has only one
approved Regional Center, know as theOmega Puerto Rico Regional
Center, LLC. Our fact-finding has revealed that there are at least
two moreapplications that we will be filed shortly. We continue to
discuss with our contacts since interest in thisprogram is very
high at this moment.
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