The EB-5 program allows investors and their spouses, as well as any unmarried children under the age of 21, to apply for a Green Card if they make the necessary investment in a commercial enterprise in the United States and plan to create or preserve at least 10 permanent, full-time jobs for qualified workers.
What should I know about recent changes to this program?
Some of the main changes to note include:
- Increase in the investment amount. In order to qualify for this program, as noted above, the applicant must invest in a commercial enterprise. In the past, this amount was set at $500,000 for Targeted Employment Areas (TEAs). The current change increases the minimum investment amount to $800,000. The standard amount for non-TEAs also increased from $1 million to $1,050,000.
- New disclosure requirements. The law also requires Regional Centers (RCs) meet additional reporting and disclosure requirements to the USCIS and sponsored investors.
- Additional fees. The law also requires RCs pay an “integrity fund” fee. The government will then use these funds to support investigations and site visits.
The law sets the program up to run through September 30, 2027.
Perhaps most importantly, the law also grandfathers in certain applicants, allowing them to qualify under the old requirements. There is some confusion over which date applies but will likely apply to those who filed their I-526 prior to June 30, 2021.
The government continues to provide updates to the program. As such, those who are interested in taking advantage of the EB-5 Program are wise to stay current with any changes. Please feel free to contact our office should you have any questions regarding these new EB-5 changes.