The Department of Homeland Security has published new rules to the EB-5 Immigrant Investor program that will increase the amount of money for foreign-born investors seeking to take part in the program.
The EB-5 program can help NAHB members obtain acquisition, development and construction financing by working with foreign investors who are seeking lawful U.S. residency.
Under the current EB-5 visa program, foreign-born investors willing to invest $500,000 to $1 million in a U.S. enterprise that creates at least 10 full-time job within two years are eligible to receive permanent residency status for themselves, their spouse and all children under the age of 21.
The new rule scheduled to take effect on Nov. 21, 2019 will nearly double these thresholds. In other words, immigrants seeking to utilize the EB-5 program will need to invest a minimum of $900,000 (up from $500,000) in areas designed by the U.S. Citizenship and Immigration Services as high unemployment or rural areas. They will need to invest at least $1.8 million (up from $1 million) for economic projects in all other areas.
The new amounts will adjust for inflation every five years, with the first anticipated adjustment on Oct. 1, 2024.
Investors who have already filed I-526 petitions, or who file by Nov. 21, will be required to pay the current investment levels of $500,000 or $1 million.
View the new EB-5 regulations