Congress created the EB-5 Program in 1990 to stimulate the U.S. economy through job creation and capital investor by foreign investors. Under this program entrepreneurs (and their spouses and unmarried children under 21) are eligible to apply for a green card (permanent residence) if they take the necessary steps. These include investor in a commercial enterprise in the United States and a plan to create or preserve 10 permanent full-time jobs for qualified U.S. workers.
If the investor resides abroad, an application for the Green Card is generally made at the U.S. Embassy or Consulate in the investor's home country, where an interview is necessary. Approval of the Green Card in this case takes on average about 6-10 months. Once the CIS or U.S. Consulate approves the investor's Green Card, it is conditional for a period of two years, with the benefits being the same as for a permanent Green Card. Once a petition to lift the condition of the Green Card is filed and approved, the investor is granted permanent resident status. The application process is long and impossible to do without an immigration attorney but the benefits of enrolling in the EB-5 Program are substantial.