The program’s mandate is to use foreign investment to spur job creation while simultaneously affording eligible foreign investors the opportunity to become lawful permanent residents of the United States. Over the past decade, the EB-5 program has grown and become an effective economic development vehicle throughout the nation as well as a growing visa option for individuals and families from around the world.
Through the EB-5 Program, a person and their immediate family can obtain permanent residency in the United States by investing $500,000 into a USCIS-approved project located in a Targeted Employment Area which creates a minimum of 10 jobs for U.S. workers. The majority of foreign investors participate in the EB-5 program by investing in commercial enterprises managed by designated “regional centers”. Regional centers are entities approved by USCIS to secure foreign investment under the program and to use such investment to promote job creation within a defined geographic area. The NYCRC was approved by USCIS as a regional center on October 30, 2008. It was the first regional center approved in New York City.