Congress created the fifth employment-based preference (EB-5) immigrant visa category in 1990 for qualified foreigners seeking to invest in a business that will benefit the U.S. economy and create or save at least 10 full-time jobs for U.S. workers.
The basic amount required to invest is $1 million, although that amount is reduced to $500,000 if the investment is made in rural or high unemployment area. Of the 10,000 EB-5 green cards available each year, 3,000 are reserved for foreign nationals who invest through a Regional Center.
The Virginia Atlantic Regional Center (VARC) can partner with Southeastern Virginia on local EB-5 projects. Business owners and developers should contact the VARC to see if their project is eligible for EB-5 funding.