If you are considering immigrating to the United States under the EB-5 immigrant visa program, you can breathe a sigh of relief that Congress recently passed legislation extending the program until September 30, 2027. The program has been overhauled with numerous changes, the most important one being the increase in the minimum investment amount from $500,000 to $800,000. What does this renewal mean to your family and you if you are considering taking advantage of the program? Above all, it means that if you are considering applying for an EB-5 Green Card, now may be the time to do so. Our own EB-5 lawyer explains what this means for you.
Since the EB-5 Immigrant Visa Program was created by Congress in 1990, it has been renewed by Congress several times. Most recently, the program expired on June 30, 2021 and was reauthorized on March 15, 2022, with new applications expected to commence on May 16, 2022.
Although existing applicants will be grandfathered under the regulations in place at the time they filed their petitions, new applicants will have to invest either $1,050,000 or $800,000 (if investing in a TEA).
If you are a prospective EB-5 applicant, the renewal of the EB-5 program could impact the lives of you and your family. You may want to make decisions now to pursue an EB-5 Green Card.
Are you considering applying for permanent residence under the EB-5 Program? Has your application been approved but you have questions about how the current law could affect your long-term immigration status? Our immigration investment lawyers are here to answer your questions and guide you through the EB-5 application process. Contact our office to schedule your free consultation.