The Congress of United States approved the general package of expenses for the year 2022 (Omnibus spending package), which includes the new EB-5 bill (EB-5 Reform and Integrity Act of 2022) on page 2609, which reauthorizes the EB-5 Program through Regional Centers for more than five years, through September 30, 2027.
“The EB-5 Immigration Program for foreign investors, through Regional Centers, had entered a pause since June 30, 2021, which caused numerous investors from various parts of the world to wait. A positive aspect is that the Program has been reauthorized for five and a half years, and in addition, even more controls and audits will be established by the United States Citizenship and Immigration Service to give investors security,” said Iván Rodríguez, regional manager for Latin America of BAI Capital.
The new EB-5 Law has important implications for investors, for Regional Centers, and for current and future Developers and Promoters. Among the most relevant changes are:
For all new applications, the minimum investment is US$800,000 in TEA zones (Zones where you want to promote employment), whether it is a rural area or an area of high unemployment. The amount of $800,000 is also valid for infrastructure projects in which a government entity contracts EB-5 financing to develop public works. Otherwise, the minimum investment amount is US$1,050,000. The amounts will be adjusted for accumulated inflation every 5 years.
In this sense, the international developer BAI Capital works with safe investments in TEA areas that will have an entry ticket of US$ 800,000, as established by the Program.
As a separate issue from investment amounts, the 10,000 visas offered by the program annually are ‘reserved’ each fiscal year: 20% for rural areas, 10% for areas of high unemployment and 2% for infrastructure; unused reserves carry over to the next year, accumulating through the third year.
If the investor, and their family, legally reside in the United States, through any type of visa, and submit their I-526 application to USCIS, they may be eligible to simultaneously apply for an adjustment of status (I-485 format). The I-526 format is the document through which the investor makes the application for permanent residence in the US as a foreign investor under the EB-5 Program.
Simultaneous filing means that those individuals who are in the US, with an I-526 petition already filed and admitted by USCIS, can proceed with filing their I-485 Adjustment of Status application, along with their applications. of work authorization and travel authorization, this as long as there is an EB-5 visa number immediately available for that individual. The work permit, and travel permit, will eventually be issued to the individual while awaiting adjudication of the I-526 petition, and subsequent adjudication of her Conditional Green Card.
“This is another piece of good news for foreign investors residing in the US, as it will speed up both them and their immediate families in obtaining their work permits,” Rodríguez points out.
It is worth noting that Bai Capital is characterized by transparency in the management of its projects and the capital of its investors, with audited financial statements available for any consultation by interested investors.
Currently, the execution of BAI Capital projects have been generating more than 1,300 jobs and encompassing various safe investments in infrastructure works within the TEA zones. To learn more about the EB-5 visa and investment projects in the United States, you can visit: https://baicapital.com/visa