On Wednesday, the U.S. Department of Homeland Security (DHS) published new EB-5 visa program regulations. If you are interested in obtaining an EB-5 visa, it’s important to understand how these new rules and regulations could affect your eligibility.
What is the EB-5 Visa Program?
The EB-5 visa program is ideal for international investors who want to become lawful permanent residents of the U.S. To qualify, internal investors must invest a certain amount of money in a U.S.-based business that will employ American workers. These investments create new jobs in the U.S., especially in rural areas with high unemployment rates.
Recent Changes to the EB-5 Visa Program
The DHS made a number of changes to the EB-5 visa program, including:
- Raising the minimum required investment to $900,000 in a Targeted Employment Area (TEA) and $1.8 million in a non-TEA.
- Allowing certain international investors to keep their priority date of a previously approved application for an EB-5 visa.
- Giving U.S. Citizenship and Immigration Services (USCIS) control over TEA designations
- Outlining the procedures that must be followed to remove conditions on family members’ permanent residence.
- Revising the guidelines that are used to determine whether or not an area should be classified as a TEA.
Although these changes were announced yesterday, they will not go into effect until November 21, 2019.
How Will This Affect International Investors Seeking EB-5 Visas?
If you are applying for an EB-5 visa, it’s in your best interest to submit your application as soon as possible. Investors who apply before these new regulations take effect will not have to comply with the new minimum required investment rule. This means you will only have to invest $500,000 in a TEA or $1 million in a non-TEA if you apply and are approved prior to November 21st.
If you are an international investor who wants to apply for an EB-5 visa, seek legal representation from experienced immigration attorney Margo Chernysheva. To schedule a consultation, call 702-258-1093 or fill out the form on this website.