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The EB-5 Program is a popular path to U.S. immigration, but if you’re looking into it right now, it’s important that you know it’s set to change in major ways in November 2019.
What will change in November 2019?
The biggest changes that will impact EB-5 investors the most are:
Increased minimum investment amounts
Targeted employment area project amount to increase from $500K to $900K
Non-targeted employment area project amount to increase from $1 million to $1.8 million
States will no longer have authority to designate targeted employment areas.
Targeted employment areas (TEA) are rural or high unemployment areas. The majority of investors select projects located in TEA because it reduces the minimum investment amount from $1 million to $500K (soon to change to reducing it from $1.8 million to $900K). Right now states can designate targeted employment areas in locations they would like to see economic growth, however, beginning November 21, the Department of Homeland Security will have sole authority over TEA designation.
A few ways these changes could impact potential investors:
1. Less investors will qualify under the new higher minimum investment amount.
2. Transferring this new increased investment amount out of other countries may present new challenges for investors as many countries have limits on how much capital they can move out of the country.
3. Changes to TEA could result in more projects located in less desirable and riskier locations.
4. More work on the government’s end could mean more processing delays and longer visa wait times.
What can potential investors do right now to place themselves in a stronger position?
– Invest before the changes take place and get grandfathered in under the current minimum investment amount and rules.
– Gather the required evidence to be able to file your I-526 Petition before the deadline. Investing early will also lock in your visa priority date.
– Consult with an EB-5 immigration attorney now to learn more about your specific case and what evidence you need to collect, document, and translate.
Fill out our free EB-5 evaluation below to get started or send us a message if you have any questions.
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