President Obama signs FY10 DHS spending bill; four immigration-related programs extended through 2012. This bill includes the extension of the Immigration EB-5 Investment Regional Center Program through the year 2012.
Los Angeles, CA (PRWEB) November 23, 2009 -- The Regional Center Investment program, part of the Permanent Residency, EB-5 Category that allows investors a path to U.S Residency will be extended three additional years.
As a History, in 1991, the Federal Government created the EB-5 Visa so as to encourage foreigners to invest in the U.S. The program required an investor to invest US$1million or currently $500,000 in certain locations into a business in the USA that would create 10 full time jobs paying at least the minimum wage. Once done, the investor and his or her family would be entitled permanent residence in the USA, "Green Card."
 U.S Regional Center EB5 Immigration Porgram Extended 
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In 2004, the program was reorganized to allow for many levels of protection for the investors. The program was classified as a "pilot" program and was set to expire five years later in September 2009, unless a permanent or another temporary extension passed.
Many Local government officials, immigration attorneys and Regional Center representatives have been lobbying Congress to either permanently extend the Regional Center Program or alternatively grant a temporary extension. The Extension based on H. R. 2892 was widely anticipated by Regional Centers, Foreign National investors and immigration lawyers practicing in this area.
This Extension allows foreign investors to continue applying for Permanent Residency through this popular avenue. Generally, Regional Centers are Private Enterprises that are in development and operation. These Enterprises via a Government Certification have been given permission to include Foreign National Investment as part of their specific business goals.
The U.S Government requires the Regional Centers to utilize this foreign investment capital to grow the Regional Center enterprise in a manner that befits the U.S economy. Specifically, the Regional center has strict requirements of U.S employment creation.
Upon proper conformity to these government guidelines, the U.S Dept. of Immigration will issue Permanent Residency (Green Cards) to those investors who have invested into those conforming programs.
The foreign national will in turn benefit by receiving a Green Card in an expedited manner. Further, the foreign national is not obligated with the difficulty and burden of business management as is required for the non-Regional Center "Direct" investment route.
Immigration Lawyer Darren B. Silver of Darren Silver & Associates was lobbying for a permanent extension of the program. However, he believes that the three year extension is a good sign of further acceptance of the Program. Mr. Silver believes that in this financial downturn, the Regional Center Program and its benefits to the U.S economy foster an invaluable economical stimulus that is impossible to ignore. Mr. Silver believes that the Regional Center EB-5 program will continue to grow, gain acceptance and transcend through any immigration reform.
Mr. Silver can be contacted directly through his website Darren Silver & Associates which is one of the Nations' preeminent Immigration Law Firms with a focus on Business and Employment and Investment Immigration law.
Darren Silver & Associates
3699 Wilshire Blvd. 6th Floor
Los Angeles CA 90010
213-384-1900 (tel)
213-384-8285 (fax)
info @ darrensilver.com (E-mail)
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1 comment:
This is such a major win for all involved. I think that this is the greatest single visa the US offers because it not only gives a home to foreign nationals, it provides Americans with jobs and stimulates local economies. Every aspect of it seems very positive to me.
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