The EB-5 investor visa program provides a method of obtaining a green card for foreign nationals who invest $1,000,000 (or $500,000 in a rural area or an area with high unemployment) and create or preserve a minimum of 10 jobs for U.S. workers. It is due to expire at the end of Fiscal Year 2015 (September 30). However, thanks to a new bill, the program may not just be renewed; it may actually become a permanent feature of this nation’s immigration policy.
On January 28, Democratic Congressman Jared Polis and Republican Congressman Mark Amodei introduced the American Entrepreneurship and Investment Act of 2015, the central purpose of which is to grant the EB-5 program permanent authorization. The bipartisan bill is a long overdue response to the demands of various parties in the commercial, residential, and retail industries, among many others.
Through the following proposals, the new legislation seeks to make improvements to the visa program’s administrative elements:
- Permanent authorization;
- Enhanced deterrence of abuse and fraud in securities compliance;
- More exact definition of Targeted Employment Area (TEA) designations;
- Codification of current TEA designation authority;
- Introduction of a pre-approval process for increased efficiency;
- And other measures.
If this measure passes, opportunities in the U.S. will open up for EB-5 investors in Mexico and other countries all over the world.
Are you an investor from across the border or overseas seeking prosperity in our great nation? Don’t hesitate to contact the experienced EB-5 attorneys at the Immigration Law Office of Los Angeles, P.C. for advice on your immigration issues. We have processed countless EB-5 visas for entrepreneurs in Mexico and other foreign investors. To speak with one of our dedicated legal staff, call (213) 375-4084. Please let us help you protect your interests and realize your goals.