United States government officials have announced changes will be coming to the EB-5 visa program. The amendments—which come into effect on November 21, 2019—mark the first major changes to the program in quite some time.
The most significant change will be to investment minimums. Under the current project, the minimum investment is $500,000 for projects in Targeted Employment Areas. Once the changes come into effect, those rates will nearly double to $900,000.
The criteria for what can be considered a TEA will also be revised on November 21 to address criticism the investment program has faced in the past. Under the new rules, TEAs will now be centrally designated by the Department of Homeland Security, which means that a large majority of the current TEAs will no longer qualify.
As before, under the EB-5 program, individuals are eligible to apply for lawful permanent residence in the United States if they make the necessary investment in a commercial enterprise that will create or (in some instances) maintain 10 full-time jobs for qualified workers.
For investors who have been considering the EB-5 visa, now is the time to act. The current rules, regulations, and investment amounts will remain in place until November 21, 2019. Which means that potential investors can still benefit from the current lower investment option by applying through Migrate World.
Contact us today to get started with the application process!