U.S. Citizenship and Immigration Services (USCIS) has published a final rule that makes major changes to the EB-5 Immigrant Investor Visa Program. The changes will take effect Nov. 21 and include:
Additional information: The EB-5 visa program was created in 1990 and allows foreign nationals to apply for conditional permanent residence if they make the required investment in a business or commercial project and create or retain at least 10 full-time jobs. USCIS Acting Director Ken Cuccinelli said in a statement that the increased investment thresholds will be put in place to “account for inflation over the past three decades” and that the changes to the TEA designation process will help “ensure that the reduced investment amount is reserved for rural and high-unemployment areas most in need.” The final rule was published in the Federal Register on July 24.
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