US Relaxes Golden Visa Rules for Next 5 Years

In recent months, the US has announced a number of reforms in the immigration and visa processing systems, in some cases completely revamping the policies. Another one of the categories wherein the US has made positive changes is the US EB-5 Immigrant Investor Programme.

The US EB-5 Immigrant Investor Programme allows foreign investors, who make an investment of USD 800,000 in a new commercial enterprise in the US, to become eligible for US Green Cards. Here, the US Green Cards will be offered to the investors and their eligible family members which may include their spouses and children under the age of 21. As per reports, the investment will be used to meet the job creation and investment requirements.

Earlier this year, through the EB-5 Reform and Integrity Act of 2022 (RIA), the US aims to bring more transparency and security for overseas nationals applying under the programme, reports stated.

Also Read: Obtaining US Green Card to Become Easier for Low-Income Immigrants

The major changes that have been brought in under the RIA have been highlighted below.

Stability

EB-5 programme has been re-authorised under the RIA for the next 5 years. Reports state that, since 2015, such a lengthy re-authorisation is a first in the country.

Families will be able to use the grandfathering provision under RIA, which allows petitions filed on or before 30 September 2026 will continue to be processed even after the expiration of the EB-5 programme. This move will facilitate enhanced security for the existing EB-5 investors, as they will still be able to receive their Green Cards even after the suspension of the programme.

With the new changes in the RIA, the EB-5 investors will also be able to live, work and study in the US while waiting to have their green card applications adjudicated.

Also Read: Embassy Assures Easier & Faster Processing of US Student Visa Applications in 2023

Protection for the Investors

A provision of providing protection of good faith to the EB-5 applicants will be provided if the invested regional centre, job-creating entity or commercial enterprise has been terminated or debarred. In other words, the investors will not be disqualified from receiving US Green Cards through the EB-5 programme in situations like these.

Now that the EB-5 programme has been launched and operating at full speed, aspiring EB-5 investors are encouraged and incentivised to take advantage of the many benefits of the programme and apply for the Green Cards.

Source: LiveMint