Kurzban Kurzban Tetzeli and Pratt P.A.
Nationwide Firm
Injury, Immigration and Business Attorneys
Aggressive Advocacy and Exceptional Civil Litigation Success

Can EB-5 visa program help to recapitalize distressed community banks?

An entrepreneur is looking to federal immigration law to help some weak community banks to revitalize communities. The woman looked long and hard for an area to apply her concept. She looked at areas in Florida and on the West Coast, but later decided to try her concept close to the nation's capitol to test out her idea.

This blog has reported a number of stories regarding the EB-5 visa program under federal immigration law. Foreign investors can gain a pathway to permanent residency under the EB-5 visa program by investing at least $1 million in a business that creates jobs in the United States.

In some situations, the investment can be a $500,000 deal if the business is located in a regional development zone, officially called a "regional center." Florida currently has 20 recognized regional centers for the purposes of the EB-5 visa program.

The entrepreneur came up with the idea that EB-5 investors could be a good source of capital to revitalize distressed community banks. Federal regulators say that the EB-5 program has never been tapped before for investment in community banks. The entrepreneur chose the area around the nation's capitol city to test out her new idea. She reportedly has lined up five foreign investors to help recapitalize a distressed community bank in an effort to benefit the community and create American jobs.

She believes that the EB-5 program can be a source of revenue that will exponentially benefit the community by increasing available cash for lending to revitalize other areas of the economy. The recapitalization will allow the community banks to make loans for housing, as well as other small businesses to help "achieve the goal of reinvestment and generation of jobs on an even larger scale."

The EB-5 program has been around since 1990 and limited to 10,000 visa applications each year. In fiscal 2011, immigration officials issued 3,500 EB-5 visas, according to the State Department. U.S. Citizenship and Immigration Services says that the EB-5 program has created roughly 43,28o jobs in the United States in its history and is responsible for generating $2.2 billion in investments in the American economy.

Source: Washington Post, "Visa program could help bank recapitalize," Danielle Douglas, Feb. 26, 2012

No Comments

Leave a comment
Comment Information
Kurzban's Immigration Law Sourcebook

We Literally Wrote The Book On Immigration Law

Our firm is a recognized leader in immigration law and litigation. We handle the spectrum from family and employment-based visas to deportation defense and immigration appeals. Founding partner Ira Kurzban authored the Immigration Law Sourcebook, widely used by immigration lawyers, judges and government officials as the authoritative field reference.

Aggressive Advocacy and Exceptional Civil Litigation Successes Call Our Firm at 786-401-4706 or Fill Out the Secure Form Below

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

IIUSA | 2018 EB-5 Industry Achievement Awards | Litigator Of The Year |Kurzban Kurzban Weinger Tetzeli & Pratt P.A.
2018 EB-5 Industry Achievement Award

Miami Office
2650 SW 27th Avenue
2nd Floor
Miami, FL 33133

Phone: 786-401-4706
Fax: 305-444-3503
Miami Law Office Map

Jacksonville Office
10752 Deerwood Park Boulevard South
Suite 100
Jacksonville, FL 32256

Map & Directions

Jed Kurzban Of Counsel at Damon Key Leong Kupchak Hastert, A Law Corporation
1003 Bishop Street
Suite 1600
Pauahi Tower
Honolulu, HI 96813
Phone: 808-531-8031

Kurzban Kurzban Tetzeli and Pratt P.A.