The EB-5 Immigrant Investor Program of the United States has undergone some positive changes, making it easier for foreigners to immigrate to the country.
It is worth noting that the EB-5 Visa is the United States version of a Golden Visa. It allows the holder to live, work, study, or retire in the United States without having to find work.
Unite States EB-5 Visa (Golden Visa)
For those who are unfamiliar, the EB-5 programme allows foreign investors to obtain US Green Cards for themselves and qualifying family members, including spouses and children under the age of 21, by investing $800,000 in a new commercial enterprise in the United States.
The funds will be used to meet various investment and job creation goals.
The new changes were implemented earlier this year with the passage of the EB-5 Reform and Integrity Act of 2022 (RIA), with the goal of increasing transparency and security for foreign nationals who participate in the programme.
Here is all you need to know about the US EB-5 Visa programme;
1. The Act extended the EB-5 programme for another five years. This is the first time the EB-5 regional centre programme has been reauthorized in this manner since 2015.
2. Apart from that, families can take advantage of the RIA’s grandfathering provision, which states that petitions filed on or before September 30, 2026, will be adjudicated even after the EB-5 programme expires.
3. Existing EB-5 investors will have more security because their files will continue to be processed by USCIS even if the programme is suspended, and they will still be able to obtain their US Green Cards in a timely manner.
4. The Act now allows EB-5 investors to live, work, and study in the United States while their green card application is being processed.
5. EB-5 applicants will receive good faith protection if they invest in a regional centre, a new commercial enterprise, or a job-creating entity that has been terminated or debarred. This means that these unwitting investors will not lose their place in line and will still be able to obtain US Green Cards through the EB-5 programme.
6. The EB-5 programme is now fully operational, and EB-5 investors can file Green Card applications to take advantage of the program’s numerous benefits.