EB-5: Time is Running Out To Invest at Current Levels
0 CommentsIn two months USCIS’s new rules on EB-5 investment go into effect. It is critical that persons who wish to invest to become US permanent residents search for real, viable EB-5 investments before the investment requirement increases from $500,000 to 900,000 for investment in a Targeted Employment Area (TEA), or $1 million to $1.8 million elsewhere.
On November 21, 2019 changes to the EB-5, or Immigrant Investor, program, will become effective. The amount required for an investor to invest will be $1.8 million (up from $1 million) or $900,000 (up from $500,000) in TEA areas. USCIS is changing how a TEA may be determined. This will affect how projects within cities like Los Angeles and San Francisco which can offer EB-5 investors investment at the TEA (lower) investment amount. Some projects that are allowed the TEA designation will no longer qualify. (See https://www.uscis.gov/news/news-releases/new-rulemaking-brings-significant-changes-eb-5-program).
USCIS has also announced that an investor, if approved, retains the “priority date” of his first filed I-526 application, even if he is required to change projects.
It is therefore important for any persons looking to obtain a green card under this program, find a viable project before November 21, 2019 to obtain the lower limits of investment. Investors must be sure that a project and the company/individuals behind the investment are credible.
With over 30 years of experience counseling clients in obtaining visas and permanent residence in the United States through investments, employment and other non-immigrant visas , Lum Law Group can assist you in all of these endeavors.
Lum Law Group can help you to find the best route through lawful immigration procedures. Please contact our office to schedule a free 30 minute introductory meeting.
