A Regional Center is any economic entity, such as CFIG, which has been designated by USCIS to be involved with the promotion of economic growth, improved regional productivity, job creation, and increased domestic capital investment.
The EB-5 Regional Center Program was created by Section 610 of Public Law 102-395 on Oct. 6, 1992 and has been extended through September 30, 2015. The EB-5 requirements for an investor under the EB-5 Regional Center Program are essentially the same as in the original EB-5 “Direct” Visa. The difference is that the EB-5 Regional Center Program provides for investments that are affiliated with a “Regional Center.” Investments made through Regional Centers can take advantage of a more expansive calculation of job creation including direct, indirect and induced jobs.
In order to receive a designation to become a Regional Center, organizers must submit a proposal to USCIS showing:
– How, in verifiable detail (using economic models), jobs will be created directly or indirectly through capital investments made in accordance with the Regional Center’s business plan.
– How the Regional Center plans to focus on a geographical region within the United States and promote economic growth in that region.
– The amount and source of capital committed to the Regional Center and the promotional efforts made and planned for the business project.
– How the Regional Center will have a positive impact on the regional or national economy.