Update on the EB-5 Visa: The Department of Homeland Security (DHS) is poised to introduce a new framework aimed at reducing the filing fees associated with the EB-5 visa program, while simultaneously providing technical clarifications intended to streamline the application process.
The proposed adjustments include a reduction of approximately 14% in the petition fees for Forms I-526 and I-526E, alongside a 17% decrease for Form I-829, along with the implementation of a $95 technology fee. EB-5 Visa: The Department of Homeland Security will implement new regulations for the EB-5 program, including reduced filing fees and a new technology fee.
Understanding the EB-5 Visa
Each year, the EB-5 Immigrant Investor Program allocates approximately 10,000 visas to foreign nationals and their families, contingent upon a substantial investment of at least $1.05 million or $800,000 in designated employment areas within a US enterprise that is responsible for creating a minimum of ten full-time jobs.
Designated employment areas may encompass regions with elevated unemployment rates, rural communities, and specific infrastructure initiatives. Such investments yield a pathway to permanent residency—commonly referred to as a green card—for the investors and their immediate families.
Proposed Changes to the EB-5 Visa Regulations
The DHS indicates that adjustments to fees for the EB-5 filings, as governed by the US Citizenship and Immigration Services (USCIS), will transpire soon.
The new regulation includes the introduction of a Form I-527 designed for investors whose Regional Center has faced disqualification or revocation, particularly those who filed before March 2022 and are currently awaiting adjudication.
Fee Alterations for the EB-5 Program: A Detailed Overview
- Instituting a technology fee for the USCIS EB-5.
- Structuring the fees and penalties regarding the EB-5 Integrity Fund.
- Establishing Form I-527, superseding the Legacy Form I-526 Amendment.
- Clarifying that dependents of the alien investor, not listed on the investor’s Form I-829, are required to submit separate Form I-829 petitions.
Revised EB-5 Fee Structure
Currently, the initial fee for the I-526 Immigrant Petition by Standalone Investor stands at $11,160, inclusive of a $95 technology fee. The proposed fee adjustment would lower this to $9,625, reflecting a 14% reduction of $1,535.
Similarly, the recommended fee for the I-526E Immigrant Petition by Regional Center Investor (inclusive of the $95 technology fee) is set at $9,625, a decrease of 14% or $1,535 from the existing fee of $11,160.
Additionally, the fee associated with filing an I-829 petition to eliminate conditions on one’s permanent resident status will be reduced by 17%, bringing the cost down to $7,860.
Source link: Hindustantimes.com.
