From April 1, fees for non-immigrant US visas, including EB-5, have been raised significantly indicating an overhaul in visa services, potentially impacting immigration policies and international relations.
As per USCIS, the EB-5 visas, popularly known as investors visas fees have jumped from USD 3,675 (over ₹3,00,000) to USD 11,160 (over ₹9,00,000).
Nicholas A. Mastroianni, President and CMO, of the US Immigration Fund in an exclusive interview with Livemint elaborates on how it will impact the ‘volume of visa applications from India’, the future outlook of the visa category in India, and other details.
In response to the upcoming USCIS fee hike, our strategy involves a partial investment option for EB-5 applicants to minimize immediate financial burdens. By allowing an initial investment of $200,000, we enable investors to file their application before the fee increase takes effect, providing a window to arrange the remaining $600,000. This approach is designed to circumvent the fee hike and offer a more manageable financial pathway into the EB-5 program.
Post the fee hike, our commitment to supporting EB-5 applicants will intensify. We plan to offer comprehensive advisory services tailored to the new fee structure. Our support will encompass financial planning, investment strategy guidance, and personalized assistance throughout the updated process. By equipping investors with the necessary information and strategies, we aim to ensure they remain well-prepared and can navigate the fee adjustments effectively. Our goal is to maintain the accessibility of the EB-5 visa process, providing a smooth transition for investors despite the financial changes brought about by the fee increase.
Recently, USCIS also revised its policy on the minimum investment period required for EB-5 visa applicants. What is the investment period now and how does it impact the investors?
The October 2023 policy revision by the United States Citizenship and Immigration Services (USCIS) marks a pivotal change in the EB-5 investment framework, introducing a definite two-year investment duration requirement from the moment funds are deployed into a job-creating venture. This regulation provides much-needed precision and steadiness, assuring investors that they can qualify for a Green Card after two years of job creation. It represents a considerable advancement in improving the program's effectiveness and upholding its integrity.
By aligning with the EB-5 Reform and Integrity Act of 2022, this update clarifies the duration an investment must be maintained to be eligible for a Green Card through the EB-5 program. It ensures that provided an investment leads to the creation of at least ten jobs, the investor is allowed to retrieve their investment after two years while still maintaining their eligibility for U.S. permanent residency. This clarification is a crucial step in ongoing efforts to boost the efficiency and integrity of the EB-5 program, making it more attractive and accessible to potential investors.