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$390 million invested in Philadelphia
USINFO | 2013-12-03 13:26
Arguably, the most successful EB-5 program is the Philadelphia Regional Center. It has an impressive record of 23 completed projects with total investments of $390 million and 5,830 new direct jobs for a combination of at least 10,000 direct and indirect jobs in a diversified set of industries.
There are currently more than 200 regional centers in the United States, although not all are regarded as fully operational. Of the 20 most active, eight have direct government involvement at either the local or state level.
Generally, a foreign investor that is vetted by the USCIS must commit $1 million to an EB-5-approved project of their choice. Ten new full-time jobs must be created as a direct result of the investment. In exchange, the investor and his family (spouse and children under 21) receive a two-year conditional residency. If any one of the conditions is not met within the two-year provisional period, the residency may be revoked. If all conditions are met, the conditions will be removed, giving the investor permanent residence.
There are currently more than 200 regional centers in the United States, although not all are regarded as fully operational. Of the 20 most active, eight have direct government involvement at either the local or state level.
Generally, a foreign investor that is vetted by the USCIS must commit $1 million to an EB-5-approved project of their choice. Ten new full-time jobs must be created as a direct result of the investment. In exchange, the investor and his family (spouse and children under 21) receive a two-year conditional residency. If any one of the conditions is not met within the two-year provisional period, the residency may be revoked. If all conditions are met, the conditions will be removed, giving the investor permanent residence.
