The EB-5 Regional Centre Immigrant Visa Programme has been given long-term authorization, which is great news for families looking to emigrate to the USA. The EB-5 Regional Centre Immigrant Visa Programme is now valid until 30 September 2027 & requires an investment of USD $800 000. There are 10 000 EB-5 Visas available each year for foreign investors, which allows the investor and their families to obtain US permanent residence. The EB-5 programme has many advantages as it does not require an offer of employment, or for the applicant to have a particular background, education, or experience.
More good news is that the option for concurrent filing is now in place, which allows applicants to be lawfully present in the United States while their immigrant visa applications are being adjudicated. “The programme now provides a fast-track concurrent filing path for applicants to apply while in the USA that avoids the wait outside the USA. This overcomes a major hurdle for many since the applicant can now obtain an unrestricted work permit as well as a travel permit after a few months,” said Bernard Wolfsdorf who immigrated to the USA himself from Durban and is a leading USA immigration lawyer. Wolfsdorf adds, “I have found that many South Africans want to move quickly after they decide to emigrate. This law now provides that option.” This gives applicants the opportunity to get to the USA within four to six months, instead of the usual approximate three years.
In some cases, it may be a suggestion for EB-5 investors that are awaiting adjudication to consider the likes of an L1 Visa to fast-track their ability to relocate.
Bernard works closely with South African-based company American Dream are South African promoter of the EB-5 process and has extensive experience and knowledge in this area. The Johannesburg-based company are able to assist interested South African investors with every phase of their relocation to the USA. Founder and CEO of American Dream, Stuart Ferguson, explains, “American Dream has partnered with industry experts both in the USA & South Africa such as Caleo Capital and Pam Golding International. Caleo Capital is a family office with representation in South Africa & the USA, that assists with important pre-immigration tax planning and potential tax consequences of being a Green Card holder. American Dream also works closely with Pam Golding to look for projects in the USA that resonate well with South African investors”.
American Dream & Pam Golding International will be hosting Bernard on a trip to South Africa between the 10th and 20th of September & will be unpacking the new EB-5 regulations & more importantly the ability for South African investors to concurrently file, which is a major deal changer,” says Stuart Ferguson.