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EB-5 Visa: US plans fees reduction for foreign investors by 17 percent, but set to levy new technology charge
EB-5 Visa Update: The DHS aims to reduce EB-5 filing fees, including a 14% cut for I-526 and I-526E forms and a 17% reduction for I-829.
EB-5 Visa update: The Department of Homeland Security (DHS) intends to issue a new regulation to decrease the EB-5 filing cost and give technical explanations to simplify the program. The recommended modifications comprise a fourteen percent decrease in petition fees for Forms I-526 and I-526E, a 17% drop in Form I-829, and a new $95 technology fee.
What is an EB-5 Visa?
Approximately 10,000 visas are granted annually under the EB-5 Immigrant Investor Program to foreign nationals and their families who commit a minimum of $1.05 million or $800,000 in a specified employment region in a US company that generates at least 10 full-time jobs.
High unemployment rates, rural communities, and specific infrastructure projects are among the specific employment areas. This investment gives the investor and their immediate family a route to permanent residency, or a green card.
Also Read: Alert for Green card holders: US issues new entry and exit rules for all foreigners
EB-5 Visa: Here's what new rule suggests
The fee charged by the US Citizenship and Immigration Services (USCIS) Employment-Based Immigration, Fifth Preference (EB-5) filing will be adjusted, as per the Department of Homeland Security (DHS).
The proposed regulation creates a new Form I-527 for investors whose Regional Center was prohibited or dismissed, especially those who registered prior to March 2022 and are awaiting decision.
Modifying the EB-5 program fees in line with Table 1's schedule:
Imposing the technology fee for USCIS EB-5,
Codifying the fees and penalties associated with the EB-5 Integrity Fund, and
Creating Form I-527, Legacy Form I-526 Amendment,
Explaining how children and spouses of an alien investor who are not listed on the alien investor's Form I-829 must submit separate Form I-829 petitions.
New EB-5 proposed fees
At the moment, the I-526 Immigrant Petition by Standalone Investor—Initial charge is $11,160, which includes a $95 technology fee. The suggested fee will be $9,625, which is 14% (or $1,535) less.
Likewise, the suggested fee for the I-526E Immigrant Petition by Regional Center Investor—Initial (with $95 technology fee) is $9,625, which is $1,535 or 14% less than the present fee of $11,160.
The investor's fee for filing an I-829 petition to remove conditions on their permanent resident status will also be lowered by 17% to $7,860.
