A Positive Trend in EB-5 Investment Visas and I-526 Approvals
This year will definitely be a good year for approvals of EB-5 petitions and the creation of new Regional Centers. The United States Citizenship and Immigration Services (USCIS) recently reported that 2,364 EB-5 visas have been issued in the first three months of the current federal fiscal year. Since the creation of the EB-5 Investor Visas program, the designated annual quotas for this kind of visas had never been reached and from the 10,000 EB-5 visas available to be issued, much less than half have been actually distributed. At this pace, the 2012 Program will come close to using its 10,000 annual visa allocation for the first time since the Program started in 1994.
I-526 petitions are filed to request the conditional permanent residency and are considered to be the first step for an Alien Entrepreneur to receive the immigrant status. According to the USCIS – Office of Public Engagement statistics from 2005 to January 12, 2012, there was an increment in the filing and approvals of the I-526 petition. As a result, the Program is able to account for more foreign direct investment available for American job creating enterprises than ever before.The tendency for the last 6 years on the approvals and denials of the I-526 Petition: *YTD: year to date / **FY12 Q1: Fiscal Year 2012 from Oct 11, 2011 to Jan 12, 2012.
The increment in the approval of I-526 petitions might be justified by different reasons, one of them being the increment in Regional Centers approved by the USCIS and another being how globally integrated marketplaces now facilitate the exchange and migration of capital, resources and people across international borders.
Despite the programs recent success, the EB-5 Program is still due to expire September 2012 if Congress does not take action. With estimates of over 100,000 U.S. jobs to be created and at least $10 Billion in direct foreign investment over the next 5 years, the U.S. Congress would be making a huge mistake by not voting to extend this beneficial program.
To qualify as an immigrant investor under the EB-5 Investment Program, a foreign citizen must invest between USD $500,000 and $1,000,000, depending on the unemployment rate in the geographical area. The investment must be made into a new commercial enterprise (business) in the United States which creates at least 10 new full-time jobs for U.S. citizens, permanent residents, or other lawful immigrants, not including the investor and his or her family.
If you are interested in learning more about the EB-5 Visa program or any other information about this kind of immigration investment, please contact us at firstname.lastname@example.org or call +1-954-727-9800
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