- What is the EB-5 Investor Program?
The EB-5 Immigrant Investor Program was created by Congress as a means to stimulate economy by foreign investors through new jobs creation and investment. The EB-5 Reform and Integrity Act has been officially enacted by the United States as of March 15, 2022.
- How Does This Affect Existing EB-5 Investors?
These new and updated requirements/restrictions do not apply to pending petitions, the previous investment amount will remain for those specific petitions.
- What Does This Mean for Future EB-5 Investors?
This means that the previous minimum amount of $1,000,000 standard investments will now be increased to a minimum requirement of $1,050,000. Targeted Employment Areas, also known as “TEA” have also been increased from $500,000 to a minimum investment $800,000 in either rural or high unemployment areas. In regard to TEA, there must be a reported rate of unemployment of at least 150% higher than the national average. In addition, only certain public infrastructure projects fall under the category for TEA, also resulting in the minimum investment of $800,000. Otherwise, they must be a minimum of $1,050,000. This new bill now allocates approximately 20% of EB-5 visa numbers investments in rural areas, approximately 10% in investment in areas of high unemployment, and 2% in investment in infrastructure projects.
In addition, those that are residing in the US on a nonimmigrant visa can apply and obtain a Travel Document and Employment Authorization Document within a span of 90 to 120 days of applying for the EB-5 visa. This will allow them to freely work anywhere without the need of an employer sponsorship.
Also, any and all fees (such as capital investments, administrative fees, etc.) binded with the investment itself are sources of restriction of funds.
- Why Have The EB-5 Investment Requirements Been Reauthorized?
This is because every five years, amounts increase with inflation. This means that the next reauthorization by Congress will be done in the Fiscal Year of 2027.
Seek legal advice from attorney Ramona Kennedy today, our goal is to guide you with your specific case and decision regarding whether or not you qualify for TEA within the EB-5 employment visa.
Attorney Ramona Kennedy cares about your case and will fight for you.
You can contact attorney Ramona Kennedy Law Offices (Kennedy Law LC) for an initial consultation and case evaluation. The first consultation is free of charge.
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