US Golden visa rules relaxed: How it makes immigration process easier
The new changes in EB-5 programme aim to increase transparency and security for foreign nationals participating in the programme
The positive changes in the US EB-5 Immigrant Investor Programme will make it easier for foreigners (in this category) to immigrate to the country. For the uninitiated, the EB-5 programme allows foreign investors to obtain US Green Cards for themselves and their qualifying family members, including spouse and children under the age of 21, with an investment of $800,000 into a new commercial enterprise in the US. The investment is used to meet various investment and job creation requirements.
New changes were brought into the EB-5 programme earlier this year through the enactment of the EB-5 Reform and Integrity Act of 2022 (RIA or the Act). It aims to increase transparency and security for foreign nationals participating in the programme, a gulf news report cited.
All you need to know:
- The Act reauthorised the EB-5 programme for the next five years. This is the first time since 2015 that the EB-5 regional center programme has received such a lengthy reauthorisation.
- Apart from that, families can benefit from the RIA’s grandfathering provision, which provides that petitions filed on or before September 30, 2026 will continue to be adjudicated even upon the expiration of the EB-5 programme. This will bring more security for existing EB-5 investors as their files will continue to be processed by USCIS in the event of a programme suspension and they will still be able to receive their US Green Cards in a timely manner.
- The Act now makes it possible for EB-5 investors to live, work, and study in the US while they are waiting for their green card application to be processed.
- EB-5 applicants will get protection for good faith for investing in a regional center, a new commercial enterprise, or a job-creating entity that has been terminated or debarred. This means that these innocent investors will not lose their place in line and can still benefit from receiving their US Green Cards through the EB-5 programme.
- The EB-5 programme is now full speed ahead and EB-5 investors can file their Green Card applications to take advantage of the many benefits of the programme. .
Catch all the Business News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
MoreLess
First Published:15 Sep 2022, 10:41 PM IST
- Top Gainers
- Top Losers
- 52 Week High