USCIS Increases EB-5 Minimum Investment Amount
The EB-5 investor visa program witch give people US green card by investment has had significant changes made by the USCIS. Revisions made to the EB-5 investors visa will be in effect beginning November 21, 2019. The final rule includes revisions to the minimum investment amounts; standards for select employment area designations (TEA); permitting agency to manage TEA designations; authorizing EB-5 petitioners to preserve their priority under specific circumstances.
How much was the minimum investment amount raised to?
Minimum investment in US to get a green card and the final rule states the EB-5 investor visa has increased from $1 million to $1.8 million. In addition, the minimum investment amount in a TEA has increased from $500,000 to $900,000. The final rule will account for the inflation rate and will automatically adjust for inflation for the minimum investment amount every five years.
What changes were made to TEA designation reforms?
TEA designation reforms were created to change and address gerrymandering of high-unemployment areas. The final rule states the Department of Homeland Security prohibits a states’s ability to appoint specific geographic and political partitions as high-unemployment areas; the Department of Homeland Security would appoint areas based on newly adjusted requirements to give people US permanent residency through investment. As a result, restricting TEAs based on particular census tracts for the purpose of creating fair TEA designations.
What procedural changes were made for removing conditions on permanent residence?
The final rule institutes certain direct family members who are lawful residents must independently file to remove conditions on their permanent residence. The revision’s requirement does not apply to family members included in a principal investor’s petition to remove conditions.
What changes were made to keep an EB-5 petitioners priority date?
Foreign national investors in the EB-5 investor visa US program and immigrant investors program whose EB-5 immigrant petitions were previously approved, when they file a new EB-5 petition will be able to preserve the priority date of the previously approved petition and that give them a chance to get their green card through investment in US.
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USCIS official article reference: https://www.uscis.gov/news/news-releases/new-rulemaking-brings-significant-changes-eb-5-program
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