Living in America is a dream for many. While countless people wait for visas, many others search for ways to legally immigrate to the United States. You might want to pursue an education in the U.S. Or perhaps you have loved ones living stateside and you want to join them. Although it may take time to get a visa application approved, there are many means by which you could enter the country.
If you have money to invest, it is possible that an EB-5 visa could provide a path for permanent residence within the States. Since 1990, the program has served to stimulate economic growth through capital investment and job creation. However, is the possibility of investment-based immigration drawing to a close?
Proposed changes to the EB-5 program
Since the program's investment requirements have not increased since the 1990s, proposed changes are in the works. How such increases would impact immigration remains unknown.
However, considering abuse of the program's original design, some proposed changes may include:
- Targeted Employment Areas (TEAs). By centralizing the TEAs, the federal government might dedicate investment funding to poor and impoverished areas in the way in which the program was designed.
- Regional center projects. Rather than the current $500,000 investment required by the program, the proposed investment amount would increase to $1.3 million in terms of regional center projects.
- Direct investment projects. Currently, these projects require a $1 million commitment. However, proposed changes would increase this amount to $1.8 million.
At this point, the implementation of these changes remains unclear. Meanwhile, companies continue to seek international investors for projects based in the U.S.
* * * * * *
If you have any questions regarding immigration law, please do not hesitate to contact me, Santiago J. Padilla, Esq., either at 800-483-7197, or [email protected]