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In 1990 under section 203(b) (5) of the Immigration and Nationality Act (INA), 8 U.S.C. § 1153(b) (5) the US Congress created the fifth employment-based preference (EB-5) immigrant visa category. To encourage immigration through the EB-5 program, Congress created a Regional Center Investment Program in 1993. The program specifically sets aside 3,000 visas annually for foreign investors who apply through a United States Citizen and Immigration Services (USCIS) designated Regional Center. To qualify for the provisional program foreign investors must:
1. Demonstrate that a "qualified investment" is being made in a new commercial enterprise located within an approved Regional Center. The qualified investment must be:
At least $500,000 in qualifying Targeted Employment Areas (TEA). The Las Vegas Regional Center focuses solely on projects within qualifying targeted employment areas (TEAs), or
At least $1,000,000 if not in a TEA designated area and
2. Demonstrate the qualified investment will benefit the United States economy and:
Show, using reasonable, approved methodologies, that 10 or more jobs are created either directly or indirectly by the new commercial enterprise through revenues generated from increased exports, improved regional productivity, job creation, and/or increased domestic capital investment.
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