The Immigrant Investor Program, more commonly known as EB-5, was created by the United States Congress’ Immigration Act of 1990 (IMMACT90). This act significantly restructured the U.S. immigration system and included changes to non-immigrant visa categories, deportation rules, and increased legal immigration limits, among other important revisions.
Congress established the EB-5 program to stimulate the U.S. economy by giving foreign entrepreneurs the opportunity to permanently live and work in the United States after they have invested in an American commercial enterprise.
In 1993, Congress created the Immigrant Investor Pilot Program to increase interest in the EB-5 visa program. This new pilot program established EB5 Regional Centers. Regional centers are business entities that receive special designation from United States Citizenship and Immigration Service (USCIS) to administer EB-5 investments and create jobs.