Congress Revives EB-5 Regional Center Program – What does it mean for Investors?
Breaking News!! The EB-5 Regional Center Program will be reauthorized within 60 days with higher investment amounts. The reauthorization will take place after the passage of the Federal appropriations package for FY 2022. It’s a piece of fantastic news for investors planning to immigrate to the United States. The announcement will also benefit thousands of investors and their families waiting for approval since the program got suspended in June 2021.
The EB-5 Visa regional center program allows high net-worth foreign investors to apply for a Green Card after making a substantial monetary investment and generate at least ten full-time job positions for U.S citizens- direct or indirect. The regional center provides an excellent opportunity to overseas investors by granting them access to high-value investments in the U.S with the bonus of a green card for them and their eligible family members. Some regional center offerings are available at a minimum investment amount of $800,000 as these areas are called rural areas. Any project outside these areas will cost a higher amount of at least $1,050,000.
When Congress passes the legislation, the USCIS will start processing the pending applications. Existing applicants will also begin to receive adjudications, and new investors will commence filing the applications and book their spot at the USCIS Immigrant Investor Program office.
This new legislation comes with several updates and changes that potential investors must understand while applying for the EB-5 Regional Center Program:
- The EB-5 Regional Center Program will receive reauthorization in Fiscal Year 2027 following the legislation passed by Congress.
- The new law determines $1,050,000 for standard EB-5 investments, while $800,000 for targeted employment areas (TEAs). The law also reserves a 32% annual quota for investments in rural areas, high unemployment regions, and infrastructure projects.
- Starting from January 1, 2027, and every five years after that, the minimum investment amount for standard EB-5 projects will increase as per the Consumer Price Index.
- The USCIS will ensure priority processing to EB-5 petitions in rural areas.
- Authorities will conduct regular audits and recordkeeping in Regional Centers.
- The bill also protects dependent children aging out in certain circumstances.
- Immigrant investors must pay an additional $1,000 for the Integrity Fund.
- Regional centers must also pay an annual fee of $20,000 (or $10,000 for Regional Centers with 20 or fewer investors) for the Integrity Fund.
- The bill imposes 20% of total EB-5 visa numbers for investments in rural areas, 10% for investments in high unemployment areas, and 2% for infrastructure projects.
Applying for a Green Card via the EB-5 Regional can be daunting and complicated. Contact Abhinav Immigration Services for a streamlined process and careful application planning. touch with our certified immigration consultants by ringing us at (+91) 859 533 8595 for immediate free counseling or write to [email protected] for process guidance and seamless experience.