EB-5 Visa program changes go into effect by September 30th

EB-5 enables foreign investors to obtain a temporary green card and ultimately permanent United States residency if they choose that route. U.S. Congress created the EB-5 program in 1990 to enable foreign investors to obtain a U.S. visa by investing a minimum of $500,000 USD in a business that will benefit the U.S. economy and create jobs.

At the conclusion of August, decision-makers in Washington and administration at USCIS had not released any additional information about the future of the EB-5 visa program, set to expire at the end of September. As of the publication of this article, there are approximately 11 days left to take advantage of EB-5 before the end of the program.

Despite the uncertainty regarding the EB-5 Reform Act, application numbers are increasing as investors work to take advantage of the EB-5 program in its current and favourable form. Regional Centers can provide investors with projects that have fewer immigration risks compared to a direct EB-5 investment – either due to the quality of the project or because the project has exemplar approval from the USCIS. Learn more about the advantages of Regional Center investments here.

Time is running out to file under these favourable circumstances. With approximately 11 days left to apply under existing EB-5 regulations – time is of the essence.

Five things to know about the EB-5 Reform Act

1. Increased minimum investment amount: Depending on the type and location of the investment project, the EB-5 Reform Act would increase the minimum investment amount for a regional centre investment from $500,000 USD to $925,000 USD. The qualifying amount is due to increase every three years.
2. Job creation: The Reform Act is set to increase the number of jobs each investor must create through his/her investment, from 10 jobs per investor to 12 jobs per investor.
3. Additional Fees: The current filing fee is $1,500 for each I-526 petition. The proposed increase will cost $12,500 for each I-526 petition. Both the regional centre and investor need to each pay $12,500 USD to file.
4. Source of Funds Restrictions: After September 30th 2018, it looks like investors will not be able to use non-US assets, such as home equity, to secure financing for EB-5.
5. Reserved and Unused Visas: These visas are set aside under the EB-5 Reform Act, and reserved for investors who invest in rural areas, priority urban areas, or in infrastructure projects. If reserved visas go unused during the year issued – they become available to immigrant investors who invest in these categories in subsequent years. Therefore, fewer visas will be available outside of these categories for interested investors, subsequently leading to long waiting lists for the program.

Who can guide your EB-5 Process before the deadline?

U.S. Immigration Fund (USIF) is a regional centre that provides outstanding EB-5 project opportunities, supported by over 30 years of collective real-estate development, finance and banking experience. USIF provides investors with high-calibre projects supported by first-class developers and lenders located in major cities within New York, California, Florida and New Jersey.

USIF became an established EB-5 Regional Center in 2010, Since then, USIF has formed and sponsored highly successful regional centres throughout the United States that have collectively assisted nearly 6,000 EB-5 investors and their families. USIF has $610 million dollars in loans repaid on behalf of 1,220 investors.

If you want to take advantage of EB-5 before September 30th contact USIF today to talk to an EB-5 specialist.