U.S. Citizenship and Immigration Services (USCIS) published a final rule on July 24 that makes a number of significant changes to the EB-5 Immigrant Investor Program. The final rule becomes effective on Nov. 21, 2019.
Major changes to EB-5 in the final rule include:
Immigration to the U.S. is a dream for many. The EB-5 Immigrant Investor Program is tailored to provide high-net-worth individuals with a direct route to eventually obtain U.S. Green Card. If you are planning to start a new chapter in the U.S. and considering investor immigration, the U.S. EB-5 Immigrant Investor Program is your best option.
The EB-5 program is highly sought-after for its advantages and low requirements for the applicant. Indeed, there are no age, education, language or business experience requirements for the program. High-net-worth individuals are offered the unique opportunity to invest as little as US$500,000 in specific projects aimed at economically stimulating areas with high unemployment rates.
Applicants are required to have a net worth of at least USD $1million or earn at least $200,000 annual personal income (or $300,000 in combined annual income with spouse). The applicant will need to invest USD $500,000, and be able to prove the legal source of this investment. Each investment must create 10 full-time jobs for U.S. workers.
To apply for the EB-5 Program, you first need to find a suitable business project to invest in and make the required capital investment in the project. Additionally, you need to submit the signed investment agreement, application forms and proof of source of funds to the U.S. Citizenship and Immigration Services (USCIS).
The number of immigrants to be admitted in the United States is subject to a limit. Therefore, the USCIS has established the Visa Bulletin and places applicants in a queue for a visa according to their background, such as occupation and country of birth. Once a visa is available, you will receive an interview notice. You must bring your interview letter and medical reports to your interview. If the interview is successful, you can then apply for an immigrant visa at the U.S. Consulate.
The application procedures for applying for U.S. Immigrant Investor Programs can be complicated; many qualified individuals fail to obtain the visa due to a lack of experience or understanding of the process. There are even more who fail because they do not have the time to prepare and it has led to a delay in the application process. Therefore, to avoid any such mistakes or delays, it is crucial that you receive professional help from an expert team of experienced immigration consultants, such as the ones at Simard & Associates, during the application process.
The expert team of immigration consultant lawyers at Simard & Associates are very familiar with U.S. immigration laws and procedures. We will be here to assist you every step of the way to ensure a successful and fast application process.
Simard & Associates will offer several investment project options for applicants who intend to apply for the EB-5 Immigrant Investor Program. One of the most popular and longstanding EB-5 projects types are what are known as “Charter Schools”. Charter schools are very popular among American parents due to their professional faculty, modern teaching methods, as well as their small class sizes. The Charter schools project is a prime choice for parents who want to provide their children with an American education to invest in.
If you have any questions or would like information regarding the current investment immigration programs, do not hesitate to contact Simard & Associates.