Business immigration in the United States will become much more expensive
EB-5 is an investment visa issued to foreign investors since 1990. The goal of the program is to increase the flow of foreign investment and create jobs for American citizens.
For the first time since its launch in 1990, the EB-5 program has undergone dramatic changes. Then the minimum investment amount was set at $ 500,000 for the region with a high unemployment rate. Investors were entitled to receive a conditional Green Card for two years for this amount and the fulfillment of a number of certain conditions (including the creation of at least 10 jobs). And then – to withdraw conditional status and become a US citizen.
In November 2019, the investment minimum in high unemployment zones will be increased to $ 900,000. For all other zones, it will increase from $ 1 million to $ 1.8 million.
But even before the changes in question came into effect, the EB-5 program didn’t work properly. The reason was a group of congressmen who for years had been fiercely critical of the program and stopped its work. Eventually, they achieved theirs and the program was changed. But given the moods outlined above, the performance of the EB-5 is unlikely to improve as a result of these changes. Rather, it will stop work permanently…
Changes in program EB-5
In addition to raising the minimum amount of investment to participate in the program, there are several more rules considered by the government that will be introduced from the second half of the November:
- In some cases, the priority date will be assigned to the investor and will not change if a new petition is filed.
- A new rule will be introduced to review the amount of investment every five years. Its adjustment will depend on the level of inflation.
- The state-determined areas with high unemployment and prosperous areas will be reviewed. Previously, regional authorities specifically united them to make them fit the terms of the program. However, after the introduction of changes, it is the Ministry of Internal Security that will determine the boundaries of these zones. Such a step will allow pouring more money into those areas where more help is needed.
- Family members who are dependent on the petitioner will be required to apply for conditional status withdrawal on their own. This rule will not apply to those family members who have been included in the petition of the investor.
- In general, many technical issues will be reviewed to improve the overall participation process in the EB-5 program.
According to statistics, thanks to this program, more than $ 5 billion is attracted annually to the US economy. This costs the country the issuance of 10,000 investment visas. But expectations are for a 50% drop in investors requests for the program. The reason is the new high requirements and tightened rules.
You have a choice
However, you have a choice. If you join the EB-5 program and by any miracle they approve your request, you`ll only get a green card. We recommend that you consult with the VD&A law firm, which operates in Bulgaria (EU), Hong Kong and Dubai. The company can provide you with a European passport through the Citizenship by Investment program. Without any problems, you can become a Bulgarian citizen and travel visa-free to 169 countries around the world. In addition, VD&A could give you the opportunity to participate in the CIP of Malta and Cyprus.