The DHS’s proposal to increase the minimum investment amount would reduce the waiting time for EB-5 immigrants, but several commenters argued that the program’s minimum investment amount is too high. Others argued that the market can handle an increase in the amount. In either case, however, the government needs to consider how to address the issue to ensure that the program remains affordable. Let’s examine the latest developments and see what the future holds for this program.
The DHS is planning to pass the Omnibus spending bill, which includes the EB-5 Immigrant Investor Regional Center Program. This program has been on hold since June 2021, but is due to be reauthorized. However, there’s still no clarity on when the current program will begin again. So, the proposed rule may not be fully implemented until 2020. As of now, there’s a long waiting list for EB-5 investors.
The qiip program requires a foreign individual to invest in a new commercial enterprise through a government-approved regional center. He or she must stay invested in the enterprise until they receive permanent resident status. Successful applicants will receive a conditional green card for two years. After that, the applicant must prove that the new enterprise created or retained jobs. This temporary visa does not affect the green card holder’s rights to citizenship, however. That means the investment is worthwhile.
In order to obtain an EB-5 green card, an investor must invest a minimum of US$900,000. The investor should make a minimum of US$1.8 million in the project. This investment needs to create at least 10 new jobs or preserve 10 existing ones. The project should be a commercial enterprise in the United States and create at least ten full-time positions. If the investor has no experience in management, they can invest in real estate ventures.
The EB-5 Immigrant Investor Program was established by Congress in 1990 to encourage foreign investors to invest in the United States and secure permanent residency. The program requires investors to invest at least $1 million in a business that creates 10 full-time jobs. But the investment amount does not have to be high. Investors who invest in a business with a low unemployment rate can still obtain an EB-5 green card. The program is an important tool for attracting investment and has helped create millions of jobs in the United States.
While this investment amount may seem too high, several commenters urged DHS to increase it gradually, so that the minimum investment amount will gradually catch up. This transition period ensures that the investment amount does not dry up the market, and smaller increases will minimize disruptions to EB-5 program activity. Several commenters encouraged DHS to implement reasonable steps over the next five years. It is a good idea to consult with the EB-5 community when considering this change, as the comments reflect the opinions of a majority of the EB-5 investor community.
A number of commenters argued that the proposed changes would affect the number of investors and projects that can be approved under the EB-5 program. The commenters cited the impact that a lower investment amount would have on the number of investors and projects in an EB-5 project. Without EB-5 investors, the projects may not move forward, or may even shut down. They were concerned that the new rules would limit the number of investors and reduce the number of eligible projects.