The US Immigration and Citizenship Service (USCIS) warned that the rules for foreign investors to obtain Permanent Residence are about to change, as this agency has introduced changes in the minimum investment amount to apply to the EB Investor Visa -5, among other considerations.
As is generally known, the EB-5 investor program was established by the US Congress in 1990 to encourage the increase of investments in the US economy, and has been subject to reforms over the years.
The EB-5 Visa empowers foreign investors to obtain their Permanent Residence with their families (children under 21) in exchange for a minimum investment of one million dollars in economically established areas. Also, in turn allow the creation of 10 full-time jobs for a minimum of 2 years in the country, yet the type of business to be carried out will be taken into account and that according to the government, consider it a priority if this investment will be made in a economically depressed area called Specific Employment Areas (APR) or Rural Areas with a high unemployment rate. The investment so far would be $ 500.00 dollars.
However, according to the proposed new changes, as of November 21, the minimum amount to apply for the EB-5 Visa will be $ 1.8 million dollars in the established economic areas – amount that will be considered for review every 5 years. In the same way, depressed areas with a high unemployment rate or rural areas will also increase their minimum amount to 900,000 dollars. It is important to say that these depressed or rural areas have so far been the most used option by candidates who apply for the EB-5 Visa.
Likewise, the Immigration and Citizenship Service (USCIS) indicated that they are in the process of updating the policy manual to align with the final rule of modernization of the EB-5 immigrant investor program. For this purpose, the USCIS Agency makes the following adjustments:
– Priority retention date for EB-5 immigrants
– An increase in the minimum investment amount
– Reforms to the designation of specific employment areas
– Clarification of USCIS procedures for the elimination of permanent residence conditions.
As of November 21, USCIS will establish the minimum investment amounts already indicated $1.8 million and $500.00 that will be automatically adjusted for inflation.
Our team invites all foreign investors to apply as soon as possible to the EB-5 investor visa, before the new changes announced by the Immigration and Citizenship Service materialize.