Bright Green Corporation BGXX has started using the U.S. government's EB-5 program, under which investors, their spouses and unmarried children under 21 years of age can apply for a Green Card if they make the necessary investment in a commercial enterprise in the United States. The investment made by applicants associated with each visa must create or preserve a minimum of 10 permanent full-time jobs for qualified U.S. workers.
President Biden has reauthorized the EB-5 program, which is now an advantage for projects in rural America. This federal initiative signals the opportunity for the creation of a number of new jobs in New Mexico and across the United States, which is very welcome news. Today I am delighted to share this announcement with the Bright Green team. Under the EB-5 ProgramEB-5 Program, private placements of common stock are only made at a cost of $39.99 per share for institutional and accredited investors, pursuant to Regulation D, Rule 506 c under the Securities Act of 1933, as amended. The minimum investment regulated by the USCIS is $800,000 with additional $80,000 for filing fees, marketing expenses and EB-5 AN management expense. Once authorized, the investors will receive a visa under the program. The price of the stock is about 70% of the Bright Green's highest trading day.
Under the program authorized by USCIS, all invested capital must be at risk for a minimum of two years and each investor can see the Bright Green share price trade higher than the initial $39.99 per share investment, which would effectively allow the investor to get a U.S. visa at no cost.
This is the place where money is raised, M&A starts, and companies meet key partners. On April 11 -- 12 at the Fontainebleau Miami Beach Hotel in Florida.