New EB-5 visa Rules: Things you need to know!
With a number of job opportunities and better education, the United States has become the most preferred place for migrants. Each year, thousands of students and employers from around the world move to the US by obtaining an immigration visa.
If you’re neither a student nor job searcher, but want to move to the hub of Information Technology, and Fashion and films, the EB-5 visa is just meant for you. Also known as the Immigrant Investor Program, the EB-5 visa was introduced in 1990 with an objective to stimulate the economy of America. The United States Department of Homeland Security has bought new alterations in EB-5 visa rules.
Although the immigration lawyer you hire in Miami or any other city in the United States would be familiar with the new changes, it is good to be informed. This will help you make the right decision whether you want to apply for EB-5 visa or not.
Here are the final rule changes in the EB-5 visa program.
According to the new rules, there is a rise in the standard investment in EB-5 visa from $500,000 and £1,000,000 to at least $1.35 million and $1.8 million. This investment should be made in Targeted Employment Areas, which are either rural areas or any area with high unemployment. The invested money should generate at least ten jobs for American citizens.
Apart from this, the US Citizenship and Immigration Services also brought other changes in EB-5 visa, such as:
- The USCIS will provide prior retention date to certain individuals applying for the EB-5 visa.
- There will be an increase in the standard minimum investment during inflation
- Improving some of the targeted employment area designations
- The USCIS procedures will be clarified to remove conditions on permanent residence
To make other conforming and technical revisions
Considering the complexity of obtaining an EB-5 Investor visa, it is best to work with the professionals for better assistance, especially with the new alterations in the EB-5 Investor program. Therefore, it is highly advisable to hire an experienced immigration law firm in Florida.