From the Overview: "The EB-5 Immigrant Investor Program was created through the Immigration Act of 1990 [...] and is administered by the Immigrant Investor Program Office (IPO) within U.S. Citizenship and Immigration Services (USCIS). 'EB-5' is the fifth of five permanent, employment-based (EB) visa preference categories under the Immigration and Nationality Act (INA). Congress created the EB-5 visa category to attract new foreign capital investment to the United States and generate employment. The program provides individual foreign national investors and their derivatives (i.e., family members) lawful permanent residence (LPR status) in the United States when they invest a specified amount of capital in a new commercial enterprise (NCE) that creates at least 10 jobs. [...] This report begins with a discussion of the EB-5 visa's requirements and an overview of the Regional Center Program. It then provides information on the EB-5 application (petition) process, admissions, economic impacts of the visa, and summarizes the EB-5 Immigrant Investor Program Modernization regulation. Next, the report reviews policy issues surrounding the visa and the Regional Center Program, including application processing, fraud and security risks, data collection, and implications of the Coronavirus Disease 2019 (COVID-19) pandemic. As of the date of this report, aside from reauthorization of the Regional Center Program, Congress has not passed legislation related to the EB-5 program. At the conclusion of the report, the 'Appendix' provides tables of acronyms and forms referenced throughout the report."
CRS Report for Congress, R44475
Congressional Research Service: https://crsreports.congress.gov/