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Why was the EB-5 Investor Visa Program created?

Why was the EB-5 Investor Visa Program created?

The EB-5 Investor Program was created by the U.S. Congress in 1990 to stimulate the U.S. economy through foreign capital investment and job creation. In 1992, the Immigrant Investor Program, known as the Regional Center Program, was established. It reserves EB-5 visas for participants who make investments in businesses connected to USCIS-approved regional centers, based on plans for fostering economic growth. The economic impact of the EB-5 visa program was further enhanced by allowing Regional Centers to pool EB-5 capital from various foreign investors for investment in economic development projects. The investment immigration to the U.S. program was a huge success, filling the financing gaps in municipal budgets, and providing a fresh, essential source of finance for regional economic development initiatives. These initiatives breathe new life into communities and support the creation and maintenance of jobs, infrastructure, and services.