What is an EB-5 Regional Center
A Regional Center is defined as any economic unit, public or private, which is involved with the promotion of economic growth, improved regional productivity, job creation, and increased domestic capital investment.
In more simple terms, a Regional Center is an area designated by the USCIS as eligible to receive immigrant investor capital.
The major advantage for regional center designation is that the regional center can take advantage of indirect job creation.
A Regional Center obtains its designation by submitting a detailed application to U.S. Citizenship and Immigration Services (USCIS), the form used here is the "Form I-924 Application for Regional Center Under the Immigrant Investor Pilot Program".
The organizers of a regional center seeking the regional center designation from USCIS must submit a proposal showing:
- How the regional center plans to focus on a geographical region within the U.S., and msut explain how the regional center will achieve the required economic growth within this regional area
- That the regional center’s business plan can be relied upon as a viable business model grounded in reasonable and credible estimates and assumptions for market conditions, project costs, and activity timelines
- How in verifiable detail (using economic models in some instances) jobs will be created directly or indirectly through capital investments made in accordance with the regional center’s business plan
- The amount and source of capital committed to the project and the promotional efforts made and planned for the business project.