NEW EB-5 PROGRAM IS ONE OF THE FASTEST WAYS TO BECOME A U.S. RESIDENT

Hotel Property

In March 2022, the U.S. Congress passed the EB-5 Reform and Integrity Act of 2022 and with the passage of that law, the EB-5 program became one of the fastest routes for a foreign national to become a U.S. resident.

In summary, the EB-5 category provides that a foreign national can invest at least $1,050,000 in a new U.S. enterprise and can immediately file a petition for residency and application to adjust status. The EB-5 category has two sub-categories, the Direct Investment EB-5, and the Regional Center EB-5. With the Direct Investment EB-5, the investor invests in his or her own company and must hire 10 new direct employees. Under the Regional Center EB-5 framework, many investors invest in a large project where direct as well as indirect employees are included in reaching the amount of 10 employees per investor.

Under the new law, in many cases an investor can now file an application to adjust status concurrently with filing the EB-5 Petition, which makes this extremely attractive for an investor who wants to move to the U.S. immediately upon making the investment.

A typical scenario would be an investor who wants to acquire a hotel property that is being sold for $5,000,000. The investor could invest at least $1,050,000 of equity, obtain a mortgage loan for the balance, and ensure that the hotel hires at least 10 U.S. workers. Under this scenario, the investor and his or her family can immediately move to the U.S. and await adjudication of the petition and adjustment of status in the U.S.

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