EB-5 Immigrant Investment: Things to Consider
EB-5 visa holders who get a green card or permanent residency can choose to live, work and study in the United States. It has been estimated that around 10,000 EB-5 visas are issued every year by the United States with a limit of 700 per country. The EB-5 visa is highly popular among the people who are willing to settle in the United States.
The United States Citizenship and Immigration Services (USCIS) is a federal immigration agency that decides the projects that are eligible for investment under the EB-5 visa category that states where the investment is proposed. Here are some of the things to consider about EB-5 immigrant investment visa:
EB-5 Visa
Under the EB-5 visa, foreign investors and their partners and eligible children are eligible to apply for Green Card by investing in the United States with a plan in order to create or preserve ten permanent full-time jobs for qualified workers of the United States. This programme is called EB-5, which stands for employment-based fifth preference visa that participants receive.
Why was the EB-5 visa program created?
The EB-5 visa program was created in the year 1990 in order to stimulate the United States economy through job creation and capital investment by immigrant investors. In the year 1992, the Immigrant Investor Programme (also known as Regional Center Programme) sets aside EB-5 visas for participants who are willing to invest in commercial enterprises linked with regional centers approved by the USCIS in order to promote economic growth of the US.
Fees
From April 1, foreign investors are required to pay an additional $50,000 for the EB-5 visa. In 2019, the foreign investor increased the amount of investment to $900,000. With this increased amount, the new 5% additional tax shows that applicants would have to pay the extra $50,000 when they send money to an escrow account in the United States to meet their application criterion.
What foreign investors need to know?
Foreign investors will keep the priority date of an early approved EB-5 petition when they file a new petition. The minimum investment amount increased to $1.8 million from $1million.
New Rules
• It is important to provide data retention to specific EB-5 investors
• Maximize the required minimum investment amount to account for inflation
• Reform TEA designations
• Clarify United States Citizenship and Immigration Services (USCIS) procedures for the removal of conditions on permanent residence
• Make other technical and conforming revisions
For more details, get in touch with a reliable immigration attorney.