EB-5 Program has ‘greatly benefited US,’ Says conference speaker
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The Oxford Group took part, as an invited guest, in the Innovation Summit 2017 on Feb. 7. Organized by NES Financial in Miami, the event targeted the EB-5 Program industry, made up primarily of lawyers, accountants, regional center administrators and investment advisors.
Congress created the EB-5 Program in 1990 to stimulate the U.S. economy through job creation and capital ventures by foreign investors. In 1992, Congress came up with the Immigrant Investor Program, also known as the Regional Center Program. This sets aside EB-5 visas for participants who invest in commercial enterprises associated with regional centers approved by the United States Citizenship & Immigration Service (USCIS) based on proposals for promoting economic growth.
In the estimation of León Rodríguez, former USCIS director and speaker at the summit, the United States has benefited greatly from the EB-5 Program.
Conference participants discussed the achievements of the program at length, from its founding through 2016, as well as the main challenges it will encounter this year and beyond, especially the imminent risk of its permanent termination. Several panels attended by speakers familiar with the program met during the conference.