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Laredo EB-5: foreign investors to citizenship quickerLaredo EB-5: foreign investors to citizenship quickerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=55312013-12-10T11:31:00Z2013-12-09T00:00:00Z

LAREDO - Foreign investors looking to move to Laredo will now be able to gain U.S. citizenship more quickly than the traditional process.

The United States Citizenship and Immigration Services recently granted the City of Laredo EB-5 status, a significant victory for foreign investors and their families.

The United States Citizenship and Immigration Services (USCIS) has granted the City of Laredo EB-5 status, an economic development tool that utilizes foreign investors to fund public and private projects.

A standard EB-5 Visa program allows investors to directly invest into a single business or investment opportunity in order to gain United States resident status. In order to gain permanent citizenship, a foreign investor must invest $500,000 and create ten jobs in three years.

“This is a wonderful and very positive opportunity for the community,” said City Manager Carlos Villarreal. “The City of Laredo will continue to look into programs offered by USCIS in the future which could have an economic impact.”

Congress created the Immigrant Investor Program, also known as EB-5, in 1990 to stimulate the economy through job creation and capital investment by foreign investors.

Laredo Morning Times
Laredo
Economy
http://www.lmtonline.com/articles/2013/11/24/front/news/doc528c05d409ced122713315.txtRead more at {Source}

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