EB-5 Visa Update: The Department of Homeland Security (DHS) is looking to introduce new regulations aimed at lowering EB-5 filing costs while also providing clearer technical instructions for the program. The suggested changes include cutting petition fees for Forms I-526 and I-526E by 14 percent, reducing the fee for Form I-829 by 17 percent, and implementing a new $95 technical fee.
Understanding the EB-5 Visa
Through the EB-5 Immigrant Investor Program, around 10,000 visas are given out each year to foreign nationals along with their families. To qualify, they need to invest either $1.05 million or $800,000 in a targeted job area for a U.S. business that creates a minimum of 10 full-time jobs.
The targeted employment areas can include places with high unemployment or rural areas, and certain infrastructure projects also qualify. This investment essentially paves a way for the investor and their immediate family to obtain permanent residency in the U.S. or a green card.
New EB-5 Rules: What Do They Mean?
The fees for U.S. Citizenship and Immigration Services (USCIS) EB-5 applications are set to be adjusted in line with the DHS recommendations.
The proposed regulations are also set to introduce a new Form I-527 specifically for investors whose regional centers have faced disbarment or dismissal. This particularly affects those who registered before March 2022 and are still awaiting decisions.
Fee Changes Ahead
The adjustments will include the introduction of technical fees on USCIS EB-5 applications.
This move will establish fees and penalties related to the EB-5 Integrity Fund.
Additionally, a new Form I-527 will be created, serving as a Legacy Form I-526 Amendment.
There will be clarifications regarding how children and spouses of foreign investors, who aren’t included on the foreign investor’s Form I-829, should file separate I-829 petitions.
Proposed EB-5 Fees
At present, the initial cost for an I-526 immigration petition from an independent investor stands at $11,160, which now includes a $95 technology fee. The proposed fee reflects a 14% decrease, bringing the total to $9,625, or a $1,535 drop.
Similarly, the proposed fee for the Regional Center Investor I-526E Immigration Petition, also including the $95 technology fee, will be lowered to $9,625, marking a similar reduction.
Moreover, the fee for investors submitting an I-829 petition to remove conditions on their permanent residency will be reduced by 17%, bringing it down to $7,860.
