By Samachar
Vishesh News
Chandigarh 26th
July:- U.S. Citizenship and Immigration
Services (USCIS) is making a number of significant changes to its EB-5 Immigrant Investor Program,
marking the first significant revision of the program’s regulations since its
establishment in the year 1993.
New developments under the final
rule, which will become effective on Nov. 21, 2019, include a significant
increase in the minimum required investment amount to a whopping US$900,000 from US$500,000 for TEA
investments and $1 million to $1.8 million for non-TEA
investments, revising the standards for certain targeted employment area (TEA) designations, giving the
agency responsibility for directly managing TEA designations, clarifying USCIS
procedures for the removal of conditions on permanent residence, and allowing
EB-5 petitioners to retain their priority date under certain circumstances.
The EB-5 visa program - one of the
fast-track options to get U.S. Green Card and permanent residency through
investment enables foreigners who make a significant investment in an approved
real-estate project to obtain a green card and become lawful permanent
residents, which allow them the right to permanently live and work in the
United States with their spouse and dependents (under the age of 21).
Under current rules, foreign
investors are typically required to make either a US$500,000 or $1 million capital
investment amount into a U.S. commercial enterprise and must create at least 10
full-time U.S. jobs for two years.
All the applicants who are
considering investing under current EB-5 regulations need to lodge their
application at least 2 months prior to the implementation of new rule,
i.e. Nov. 21, 2019, which means they have only 45-60 DAYS to invest and file
their case with minimum investment of $ 500,000.
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If you’re planning to invest under
EB-5 Program, WWICS can work to file your petition ahead of the deadline, as
long as funds are in and documents are completed in the given time frame.
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