John Burson  edited Friday, August 30, 2024

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Fee increase for EB-5

In a significant announcement by the United States Citizenship and Immigration Services (USCIS) on January 31, 2024, the filing fees for the U.S. EB-5 U.S. Golden Visa, officially known as the EB-5 program, are set to increase substantially. This program, a cornerstone of investment migration to the United States, allows families to secure U.S. Green Cards by investing $800,000 in government-approved real estate projects. With this investment, each family member, including the principal applicant, spouse, and children under 21, can live, work, and travel freely within the U.S.

Currently, the government filing fee for an EB-5 application is $3,675. However, with the final rule coming into effect on April 1, 2024, the fee will skyrocket to $11,160, marking a 204 percent increase. This fee adjustment, the first since 2016, is explained by the Department of Homeland Security (DHS) as a necessary measure to keep pace with the rising costs of federal salaries and inflation, ensuring the USCIS can continue to provide its services effectively.

This fee hike is beneficial for both the U.S. government and applicants. For the government, it promises reduced administrative burdens, fewer fee processing errors, and more efficient adjudicative processes. Applicants can look forward to faster processing times, making it a potentially advantageous change for those seeking U.S. immigration benefits.

Given this substantial increase, Shahriar (Shai) Zamanian, an EB-5 expert and founder of The American Legal Center, advises prospective investors to act swiftly and file their applications before the new fees take effect. Preparing an EB-5 application is a detailed process, requiring the collection of personal and financial documents, especially those verifying the source of investment funds and the selection of a suitable EB-5 project for investment.

With the deadline looming, individuals considering the EB-5 route for immigration must expedite their application process to benefit from the lower fees. After April 1, all applications must adhere to the new fee structure, making it crucial for interested parties to work with experienced advisors to navigate this complex process efficiently.

The American Legal Center, known for its expertise in the EB-5 industry, offers comprehensive support for families looking to apply for the U.S. Golden Visa. With a decade of experience and a record number of EB-5 applications filed in the GCC region, their team of U.S. licensed lawyers provides exceptional client service, helping navigate the intricacies of the EB-5 program effectively. For those considering this investment migration pathway, now is the time to reach out for a complimentary initial consultation, especially with the impending fee increase.

Source: https://gulfnews.com/world/fee-increase-for-eb-5-us-golden-visa-1.1707470192563