GAO Probes Problems with EB-5 Immigrant Investor Category




Congress created the employment-based fifth preference (EB-5) immigrant investor green card category in 1990 for immigrants who invest in and manage U.S. companies that benefit the U.S. economy and create or save at least 10 full-time jobs for U.S. workers. 

The normal amount required to invest is $1 million, although that amount is reduced to $500,000 if the investment is made in a high unemployment area or rural region. In 2003 Congress asked the Government Accountability Office (GAO) to study the EB-5 category for ways to improve the program. The GAO recently published its findings.

The EB-5 visa category has been severely underused since its inception. According to the GAO report, despite making 10,000 EB-5 visas available each year, the USCIS has only issued a total 6,024 visas to immigrant investors and their families since 1992, or about 500 a year. 

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