The EB-5 Immigrant Investor Visa is a US federal program that offers international investors and their immediate family members a chance to get US Green Card. Despite reaching its sunset on June 30, 2021; this popular program is almost certainly to be reformed and reauthorized by the US Congress.
Launched in 1990, EB-5 Program offers an exclusive category of US immigration Visa that allows Investors, their spouse and unmarried children under the age of 21 to obtain Green Card within 24 to 36 months. This allows them the legal right to live, work, study and travel anywhere in the United States without restrictions.
In order to qualify, foreign investors need to meet specific United States Citizenship and Immigration Services (USCIS) requirements. They are required to make a minimum investment of $500,000 in a commercial entity located in a targeted employment area (TEA) along with creating at least 10 full-time jobs for US Citizens.
We are currently in a brave new world of EB-5 investment as the EB-5 industry has seen some major changes in recent times.
- Reversal of the required investment amount
To begin with, since its creation in the 1990, EB-5 Investment program had the minimum investment requirement of $500,000 for applicants investing in a targeted employment area. However, in November 2019, USCIS increased that minimum amount to $900,000.
On June 22, 2021, a federal court ruling lifted these regulations, therefore, the required investment amount was reversed from $900,000 to $500,000.
- Unsecured loans can be used as a legitimate source of funds for EB-5
In another case, D.C. Circuit Court three-judge panel gave a historic decision on US EB-5 Visa Program. The court ruled that foreign investors can use unsecured loans as their Investment Capital for I-526 applications.
For many years, USCIS had only allowed financing the investment through investor’s asset value. USCIS interpreted those proceeds as debt and rejected the EB-5 applications of those who demonstrated unsecured loans in their source of funds.
This was a significant verdict on US Immigration as it streamlines the investment process as well as creates more opportunities for the foreign investors to invest and obtain US Green Card.
Best Time to Prepare Your EB-5 Application!!
If you’re looking to relocate to the US under EB-5 Immigrant Investor Visa, this is the best time to start preparing your application. Although the program reached its sunset on June 30, 2021; USCIS has already published guidelines on how it will deal with pending petitions until the program gets reauthorized. It might take a few weeks but we expect to have a current program again, most probably before the end of this US fiscal year in September.
WWICS – World’s Largest Immigration Group with industry-rich experience in EB-5 Investments
With over 25 Offices worldwide & more than 27 years of extensive experience in the field of investment migration, WWICS – World’s Largest Immigration Group provides comprehensive Resettlement Solutions to investors looking to secure US Green Card through EB 5 program.
WWICS’s attorneys and other professionals will equip potential investors with the information needed to assess the viability and feasibility of investing under EB 5 program, as well as the likelihood that the business will pass USCIS scrutiny.
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