Miami to Become EB5 Regional Center

Miami plans to submit its application to become a designated EB5 regional center in July. If approved, the city would be considered an area designated for foreign investors in specific industry sectors in an effort to promote foreign investment.

The EB5 visa, a pilot program that was started 1992, allows you to literally buy your way into a US green card by investing $1,000,000.00 into a new business enterprise. The business must also create or maintain 10 full-time jobs. The investment does not have to be in an EB5 regional center.

Miami originally planned to submit its application in December 2012, but it had several hold ups including the $700 million Panorama Tower project and expanding the city are to include all of Miami-Dade County. Once approved, Miami would be the owner and manager of the City of Miami Regional Center.

For more information about the EB5 visa and other investment visas, contact Boyer Law Firm’s immigration attorneys today.

Source: South Florida Business Journal