Minimum Investment Amount Has Increased for EB-5! Check out How It Will Affect Your Petition
U.S. Citizenship and Immigration Services (USCIS) just published a final rule that raised the EB-5 Visa investment amount. Read here how much it will affect on your petition.
If you are thinking about obtaining a Green Card for USA, you should be aware of the changes made in the minimum requirements. Lack of knowledge may ruin your chances of getting a permanent residence if you don’t plan properly. So, without any delay, let’s take a look at what changes have been introduced in the online US visa application.
Changes in Minimum Investments for EB-5
The Office of Management and Budget has finished its review of the changes proposed for the minimum investment required for EB-5 Investor Program.
An increase from $500,000 to $900,000 for investments in Targeted Employment Areas and from $1 million to $1.8 million for Non-Targeted Employment Areas will come into effect from 21st November of this year (2019).
Besides, there is also another programmatic change. Now, the Department of Homeland Security will be responsible for designating targeted employment areas within individual states rather than the State itself. USCIS is assigned for the centralization of this process.
However, to allow investors to file under the previous regulated investment amount, a grace period of 30 days is being offered until the new EB-5 rules is implemented on the aforementioned date.
The Final Rule also clarified the procedures for eliminating conditions on permanent residence. It revises regulations to make clear that certain derivative of family members who are lawful permanent residents need to file for a visa independently to remove conditions on permanent residence.
The requirement won’t apply to those family members who are included in a principal’s investor’s petition to remove conditions. This will help in the adjudication process as it offers flexibility in interview locations and adopts the current USCIS process for issuance of green cards.
The final rule also stated that the minimum investment amount will adjust automatically for inflation every five years.
Consequences of New Changes in the EB-5 Program
Through EB-5 Investor Program, the US government allows foreign nationals and their family members to obtain permanent residency in the US. But, in exchange, the investor has to invest a certain minimum amount in a business venture in either TEA or non-TEA and create at least ten jobs for Americans per investment. The total investment amount is expected to nearly double if the Final Rule will be implemented. It is anticipated that the amount won’t go beyond $90,000 for TEA and $1.9 million for non-TEA.
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I am Rachel Johnes. I have 3+ years of experience in professional blogging. As a blogger usually writes about different categories related to the field like Health, Travel, Technology, Automobile, and other categories.