Under the EB-5 Immigrant Investor Visa program, foreign investors can apply for a path to citizenship if they invest in a job-creating enterprise. On November 11, 2019, new changes to the EB-5 Immigrant Investor Program will go into effect. These changes include:
New Minimum Investment Amounts
The minimum investment amounts for the EB-5 visa will increase. Applicants will now have to invest at least $1.8 million instead of $1 million. USCIS will also instate a rule that will require a 50% minimum investment differential between targeted employment areas (TEA) and non- targeted employment areas. The new minimum investment amount for a TEA will be $900,000 instead of $500,000.
New Criteria for TEA Designations
To deal with gerrymandering of high-unemployment areas, states will no longer be able to designate certain geographic and political subdivisions as high-unemployment areas. Under the new changes, the number of census tract-based TEAs will be limited and directed to areas that are most in need.
New Procedure for Removing Conditions
USCIS will clarify the procedure for the removal of conditions on permanent residence for family of lawful permanent residents. The new changes will provide more flexible interview locations and will also utilize the current USCIS process for approving green cards.
New Priority Date Rules
Immigrant investors will have more flexibility if they have a previously approved EB-5 immigrant petition. If an investor wants to file a new EB-5 petition, they will be able to keep the priority date for their previously approved petition.
Do you want to apply for a visa under the EB-5 Immigrant Investor Program? Then give us call today at (888) 491-8770 to set up a consultation with our legal team at Sintsirmas & Mueller Co. L.P.A. We are here to serve you!
