The EB-5 Immigrant Investor Program
The U.S. government established the EB-5 Investor Immigration Pilot Program (EB-5) in 1992. Its primary goals are to promote domestic economic growth, improve regional productivity, and create jobs.
Through the EB-5 program, local Regional Centers are approved and authorized to raise capital from immigrant investors. The minimum investment is $1,000,000 unless the money is invested in a Targeted Employment Area (TEA) or rural area, in which case the minimum is $500,000. In return, the immigrant investors can achieve permanent residency for themselves and their families.
Whatcom Opportunities Regional Center, Inc. (WORC) has been designated by the United States Citizenship and Immigration Service (USCIS) as a Regional Center entitled to participate in the EB-5 program. As an approved Regional Center, WORC is authorized to develop and operate retirement facilities in Whatcom County, Washington by collecting, pooling, and investing funds from immigrant entrepreneurs.
The foreign entrepreneur must invest at least $500,000 with WORC. Other EB-5 requirements include:
- The investment of $500,000 must be spent in a targeted employment or rural area;
- The investment must be in a new commercial enterprise; and
- The enterprise must create or preserve at least 10 full time jobs for qualifying U.S. workers
The EB-5 Investor Immigration Pilot Program has created or retained hundreds of jobs in Whatcom County
at no additional cost to the taxpayer: Foreign investment funds pay for everything including building permit fees, construction labor, materials, and caregiver workforce development costs.
Unfortunately, EB-5 is currently set to expire on September 30, 2016. Congressional advocates like Vermont Senator Pat Leahy and Washington 2nd District Congressman Rick Larsen support making EB-5 permanent. Please contact Congressman Larsen or contact Congresswoman DelBene of Washington's 1st Congressional District if you wish to show YOUR support of this critical and cost effective program.
Learn More About the EB-5 Process >>