To stimulate new jobs and capital investments by foreign investors, Congress created the EB-5 Visa program in 1990. For nearly 30 years the program has been renewed, funneling billions of dollars into the U.S. economy. Although the current version of the EB-5 Visa program ends on September 30, 2019, it will continue with new requirements and qualifications. 

What is the EB-5 Visa Program?

Under the terms of the EB-5 Visa program, foreign investors receive conditional two-year residency if they invest a minimum of $500,000 into a targeted employment area in a regional center, and create a minimum of ten full-time jobs. In certain areas, including high-employment areas, the minimum investment is $1,000,000. The investment must be in a for-profit business to qualify, not in private holdings like a personal residence. 

How Will It Change?

Starting November 21, 2019, the EB-5 Visa program will increase the minimum investment amounts necessary to qualify for the program. Under the new rules, the minimum investment will increase to $900,000 for certain targeted employment areas and $1.8 million for all other investments. These increases are tied to inflation, and future adjustments will occur every five years. The program will also have additional changes, including new procedures for determining employment area classifications and revised rules about the removal of conditions on permanent residence. 

What Does This Mean for You?

The current rules for EB-5 Visas remain in effect until the end of September, which means there is likely to be an influx of applications in the coming weeks. Applicants do not need to invest before September 30, but they do need to prove that they have the means to do so at the current rate. After the deadline, you will need to prove that you have the funds to comply with the new regulations. Because the application is complex, it’s best to work with an experienced immigration attorney to file the EB-5 paperwork, understanding that there is currently a 12-18 month wait time for applications to be processed. 

For help with your EB-5 visa application, contact the experienced immigration attorneys at LOIGICA® in Miami, FL. With offices in the U.S. and throughout Central America, they provide a range of services to foreign investors and others needing help with immigration issues. To learn more about the EB-5 visa process and requirements, visit their website, and call (786) 292-9704 to schedule a consultation today.