The minimum investment required to acquire the US EB-5 Visa is likely to increase in 2019. It facilitates Immigrants with a conditional Green Card. The investment amount could be doubled. The Department of Homeland Security has sent the final rule for review on February 22. The process is nearing completion.
Immigration attorneys believe that the new investment rules will be milder. Also, the new US EB-5 Visa investment rule would provide with better protection. At present, the minimum investment limit is $500,000. The changed rule has doubled the amount to nearly $1,350,000. However, for non-designated areas, the investment limit would increase to $1,800,000.
Once the proposal is approved, an Indian Immigrant would have to pay a minimum of 6 Crores to acquire the US EB-5 Visa. Bernard Wolfsdorf, the Managing Partner of US-based law firm has expressed his views on this matter. He has also written an open letter to the US President Donald Trump, as quoted by The Times of India. According to him, only a few Immigrants can afford to pay such a huge amount. That too, they usually have to wait for many years to obtain the US EB-5 Visa.
An average Indian Immigrant usually waits for 30 months to get the conditional Green Card. However, because of the huge backlog, the waiting time is likely to increase more. The new rule, however, offers better protection. This helps Immigrants in investor related scams.
The US EB-5 Visa has a yearly cap of about 10,000. The per-country cap for this Visa is 7%. The US Department of State issued a cut-off date for every country on a monthly basis. Candidates whose priority date falls before the cut-off date can obtain the US EB-5 Visa. The Government is also considering the Immigrants’ family members for the Visa.
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