The Savannah World Trade Center for Investment, a joint operation of the World Trade Center Savannah and the Savannah Economic Development Authority, has been certified by the U.S. Citizen and Immigration Service as an EB-5 Regional Center, effective Jan. 8.
Also known as the Immigrant Investor Program, EB-5 was created by Congress in 1990 to stimulate the U.S. economy and create jobs through an influx of funds from foreign investors.
In a nutshell, it’s a federal government-approved way for well-heeled foreign investors to bankroll projects in the United States that will create jobs and stimulate the economy. In return, the investor gets temporary visas for his or her family with a potential fast track — four to five years — to permanent U.S. residency.
Of course, it’s not as easy as it sounds. As with any government program, there are multiple levels of qualification and vetting, both to become a regional center and to be an investor.
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