How to Convert an Organization to an EB-5 Regional Center
There are many advantages to business organizations receiving the US Citizenship and Immigration Services (USCIS) EB-5 Regional Center designation. Learn how to turn a business into an EB-5 Regional Center here.
Becoming a Regional Center is an attractive way for a business project to raise investment capital. The Regional Center designation can also add legitimacy to a business venture and make it easier to raise capital from both EB-5 investors and other sources of investment.
There are significant benefits to business organizations receiving the EB-5 Regional Center designation from USCIS.
One of the most important advantages is that regional centers can offer investors a faster path to obtaining permanent residence in the US, since they allow investors to obtain permanent residence without having to invest directly in a business. or business enterprise owned or controlled by you.
Another advantage is that it makes it easier for the company to obtain funds from foreign citizens who may be applying for the US green card through the EB-5 Program.
Advantages of Becoming an EB-5 Regional Center
The main advantages of becoming a Regional Center can be summarized in two fundamental points:
1) Lower minimum investment requirement for investors
2) Faster processing times for investor visa applications
EB-5 Program Features
The EB-5 program was established by Congress in 1990 to stimulate the American economy through job creation and capital investment by foreign investors, thereby supporting job creation in targeted employment areas (TEAs) or rural areas. .
This program has been an effective instrument in creating jobs and generating economic growth in communities across the country. It has also helped drive the development of new projects that otherwise would not have been possible without significant capital from external investors.
The minimum investment to apply to the EB-5 Program is between US$800,000 and US$1,000,000 and it is essential to be able to demonstrate the legality of the origin of the funds, a process that can speed up obtaining the Green Card if it is carried out correctly.
The period for obtaining the permanent residence card with the EB-5 Program ranges from 2 to 3 years, and the investor can wait to obtain his Green Card within the United States. The EB-5 Program also appears as the first step to obtain citizenship, which can be applied for after 5 years of continuous residence in the country.
6 Steps to Becoming an EB-5 Regional Center
The starting point for becoming an EB-5 Regional Center is to file an application with USCIS. This can be done by filing Form I-924 with supporting documentation.
Determine the size of the Regional Center
Acquire the services of professionals who will play an integral role in the designation as a Regional Center
Filing Form I-924 with USCIS
Prepare a business plan for the project
Obtain letters from state and local officials indicating that the project is beneficial to the community; and
Apply for designation as a Regional Center by filing an application with USCIS.
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