The EB-5 program allowed foreign investors to obtain a Green Card for themselves and their family members. This includes spouses and children under the age of 21. This visa would also include the investment of $800,000 into a new commercial enterprise in the US. The investment is used to meet the various investment and job creation requirements.
The new changes were introduced earlier this year through the enactment of the EB-5 Reform and Integrity Act of 2022 (RIA) and is aimed at increasing transparency and security for the foreign nationals participating in the program.
All you need to know:
- The reform act reauthorised the the EB-5 program for the next five years and this is the first time since 2015 that the program got such a lengthy reauthorisation.
- The reform also states that any petition filed on or before 30th September, 2026 will continue to be adjudicated even after the the EB-5 program expires. This will ensure that existing EB-5 continue to enjoy a certain amount of security while their files are being processed by the USCIS, especially in the event of the program being suspended. They will still be able to receive their US Green Card in a timely manner.
- The changes makes it possible for EB-5 investors to live, work, and study in the US while they are waiting for their green card application to be processed.
- EB-5 applicants will get protection for good faith because they are investing in a regional center, a new commercial enterprise, or a job-creating entity that has been terminated or debarred. This means that innocent investors will not lose their place in line and can still benefit from receiving their US Green Cards through the EB-5 programme.
- The EB-5 programme is now full speed ahead and EB-5 investors can file their Green Card applications to take advantage of the many benefits of the programme.
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