The EB-5 Investor Green Card is a category that is relatively unknown, yet provides an excellent opportunity for foreign investors looking to live and work long-term in the United States to become permanent residents of the United States. The Investor Green Card allows a foreign investor the flexibility to work in any capacity, attend school, or retire and live anywhere in the US. Although it has been called the "millionaire's green card", it does not in all cases require a million-dollar investment.

There are three different ways one can obtain a green card as an investor:

The Regional Center program allows immigrants to invest $500,000 in government-designated regional centers in high unemployment areas. The regional centers are private or public entities that have received government approval to participate in the program. They enable the amassing and pooling of capital for targeted investment in designated regions in the United States and include a list of enterprises in agriculture, tourism, real-estate development, renewable energy, health services and medical technology, education and transportation.

For the Investor, the Regional Center Program is attractive because it allows the investor to qualify for the green card without having to hire 10 people. Instead of having to prove direct job creation, the investor may show indirect job creation through such methods as economic and statistic forecasting tools. Also, the investor can be a "limited partner", meaning he or she will only have a policy-making role and need not be involved in the day-to-day management or running of the business. Given the investor's limited role in the business, the investor need not live near the place of investment. The investor is free to live anywhere he or she wishes in the United States. Thus, the regional center program offers the investor more flexibility to live and work anywhere in the United States than do other investments made in the context of immigration. Another advantage of Regional Center program is that it is given priority by CIS over regular investments, which allows the investor a fast track to permanent residence status.

To obtain an Investor Green Card, the investor must identify the source of investment funds, which may be the investor's own money, a loan not secured by the qualifying investment, or a gift (gift taxes, if required by the home country must be paid). The investor completes a due diligence and economic analysis of the viability of the business, the investment is made and then the petition is filed with the CIS. Once the petition is approved, and the investor is already in the US, he or she then applies for a green card. If the investor is abroad, the application for a green card is made at the US consulate in the investor's home country. The entire process takes approximately one year if the investor is here, and approximately 1 ½ year if abroad.

The investor green card is conditional for a period of two years. A conditional green card confers the same rights as the permanent green card. Between 21-24 months after the conditional green card is approved, the investor files an application to remove the condition and reconfirms that the investment is still in place. Once the condition is removed, a permanent green card is granted. Thereafter, the investment may be sold and the investor maintains the green card. In the case of an approved regional center investment, there may be a required period of investment, at the end of which, the investment may be sold.

In sum, the relatively unknown EB-5 green card through the Regional Center Program is an ideal opportunity for the investor who wishes to live and work in the US without restrictions. For those who can afford it, the program provides for a passive investment, the freedom to live anywhere in the US, and an accelerated path to permanent residence status.