On September 30th 2015, the EB-5 immigrant investor visa will likely be increasing from $500,000 to $800,000, as the U.S. looks to refresh and update the Eb-5 programme.
On Friday last week a new proposed senate bill was released, calling for the total revamp of the current Eb-5 investor visa programme. The purpose of this post is to provide a short summary of the proposed changes. A full memo can be provided to investors at their request.
The big change is the proposed increase for investment into a TEA from the current $500,000, to $800,000. Although the proposed bill does include some positive changes:
- Renewal of the EB-5 programme by 5 years
- Shorter application processing times for i-526 and i-829 petitions
- Provisions that if a project i-924 exemplar is filed before the deadline, all investors in that project, even if after the new legislation come into power, will be able to invest under the old rules.
- Targeted Employment Areas (TEAs) will apply for two years, rather than one year.
Please get in contact today to learn more about these changes, and how they might affect your Eb-5 application.