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Mexicans may prefer EB-5 visa after recent immigration policy changes
The EB-5 visa program may receive an upsurge in popularity from Mexican immigrants, given the recent reductions in the amount of time that similar visas remain valid.
The State Department recently changed its policy on visas granted to Mexicans who own, or seek to own businesses and houses in the U.S., the San Antonio Express-News reports.
Under the policy changes, visas that were typically valid for up to five years, will now only be applicable for a single year for applications filed after February 22.
San Antonio immigration lawyer, Nancy Shivers, told the news source, “I found out about this when a client applied in March for a renewal of his E-2 visa that had been issued previously for five years.”
She added, “The client was told by the U.S. consul that the visa was being issued for only one year and that it was a new policy.”
Now, Mexicans already in the U.S under these visas will have to visit a U.S. consulate in Mexico each year to renew their permit and prove that the businesses in which they invested are still viable.
By comparison the EB-5 visa program provides a route to permanent residency in exchange for a one-time investment of at least $1 million (or $500,000 in some areas) in a U.S. business.