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Don’t wait to apply for an EB-5 visa, it could cost you not just a lot of money, but a lot of time, too.
The latest EB-5 regulation, EB-5 Immigrant Investor Program Modernization, is in its final stages, and changes could go into effect any month now.
While we don’t know for certain exactly what changes may take place, the four changes predicted to happen include:
- Changing the minimum investment amount of targeted employment area projects (TEA) from $500,000 to $1,350,000, and changing the non-TEA projects from $1,000,000 to $1,800,000.
- Changing how targeted employment areas are designated. Authority over TEA designation would be transferred from state agencies to the Department of Homeland Security.
- Increased oversight for regional centers.
- Changing the filing and interview processes.
So not only will the TEA projects minimum investment amount more than double in cost, but the actual EB-5 visa process may be slowed down due to new and more restrictive requirements that all EB-5 professionals will need to adapt to. Additionally, investors may run into problems with trying to wire transfer these increased sums out of their home countries.
To avoid this increased minimum investment amount and the process changes, an investor can apply to the EB-5 Program now and be grandfathered in under the current program rules.
Work with an EB-5 immigration attorney now and file your I-526 Petition before the EB-5 modernization regulation is published in the Federal Register. Once published, the rule could go into effect as soon as 30 days from the date it was published.
After filing your I-526 Immigrant Petition for Alien Entrepreneur, you will receive a receipt from USCIS with a priority date marking your place in line for a visa. If eligible, you could then receive a visa when one becomes available.
For more information, send us a message.
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