EB-5 Green Card Investment Amount Increases from $500K to $900K in November 2019
August 20, 2019
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EB-5 Green Card Investment Amount Increases from $500K to $900K in November 2019
For those contemplating applying for a U.S. EB-5 green card, now may be the time to act since the U.S. Citizenship and Immigration Services, DHS (USCIS) recently issued a final rule to change the EB-5 investment amount from $500,000 USD to $900,000 USD in a targeted employment area (TEA) and from $1 million to $1.8 million in non-TEA areas. The rule is set to take effect on November 21, 2019, and will apply to all Immigrant Petition by Alien Investor (Form I-526) petitions filed on or after the effective date. Petitions filed prior to the effective date of the rule will be allowed to follow the regulatory requirements in place at the time of filing, including the lower $500,000 investment amount.
There are additional changes imposed by the new rule that are important for potential EB-5 investors to note. For instance, the new rule provides for automatic adjustments to the minimum investment amounts every five years paced with inflation. And, as noted in this Forbes article, the Department of Homeland Security (DHS) will eliminate a state’s ability to designate their own TEAs and instead will make the designations directly based on revised requirements in the regulations. It is expected that these revisions will help ensure TEA designations are consistent, fair and will drive investment dollars to the areas that need it most.
A few changes are advantageous to EB-5 investors, such as when an investor needs to file a new EB-5 petition, they generally now will be able to retain the priority date of a previously approved petition, according to the USCIS website. The site also states that the new rule will improve the adjudication process for removing green card conditions by providing flexibility in interview locations and to adopt the current USCIS process for issuing green cards.
“Luckily, investors can apply now to get in on the current $500,000 investment amount before the regulation goes into effect in November,” said Francis Lively, CEO and President of The LCP Group, L.P. (LCP), a 45-year-old real estate investment management firm that has helped more than 1,000 foreign investors realize their American dream through its investment opportunities in the EB-5 program. “Timing is critical to get in at the lower rate and LCP’s most recent project in the Florida Space Coast is a unique high-yield EB-5 opportunity in a designated TEA that may return up to two times the $500,000 investment amount.”
The EB-5 program continues to provide permanent EB-5 green cards for the investor, the investor’s spouse and their unmarried children under age 21 with just one EB-5 application and one investment of $500,000. Investors and their families can live, work, study, or start their own business anywhere in the United States that they like. There is no employer or other sponsorship required.
Despite the forthcoming changes to the EB-5 program, it remains the fastest and easiest way to obtain a permanent U.S. green card. Naturally, interest in obtaining an EB-5 green card has increased since this new regulation was passed, but there is still time to complete the application process at the current EB-5 investment amount of $500,000. Contact LCP today to learn more about the program by contacting us via email info@thelcpgroudev.wpengine.com
