On July 24th, U.S. Citizenship and Immigration Services (USCIS) will publish new changes to the EB-5 Immigrant Investor Program. These regulation changes will be the first to the program since 1993 and will become official on November 21st.
The following are the most significant changes that will be included in the final rule:
- Minimum investment amounts will increase from $1 million to $1.8 million, with automatic adjustments for inflation every five years.
- The standards for certain targeted employment area (TEA) designations will be revised. USCIS will now be in charge of managing TEA designations. DHS will no longer allow the state to designate certain geographic and political subdivisions as high-unemployment areas.
- Procedures for the removal of conditions on permanent residence have been revised so that derivative family members who are lawful permanent residents must now independently file to remove conditions on their permanent residence.
- EB-5 petitioners will be allowed to retain the priority date of a previously approved petition.
What Is the EB-5 Immigrant Investor Program?
Individuals who are eligible for the EB-5 program can apply for conditional lawful permanent residence if they make a substantial investment in a U.S.-based commercial enterprise that either creates or preserves 10 permanent full-time jobs for U.S. workers.
Do you have more questions about applying for a visa under the EB-5 Immigrant Investor Program? Then give our legal team at Mathur Law Offices a call today to request your initial consultation with our immigration lawyers.