Potential immigrants seeking permanent citizenship in the United States through the EB-5 visa program may face significantly higher fees if proposed changes by the Department of Homeland Security (DHS) are implemented. The DHS has recommended adjustments to the fees associated with various immigration and naturalization benefit requests, including those for the EB-5 visa program.

The proposed fee restructuring for the EB–5 visa program, a key component of the Employment-Based Immigrant Visa, Fifth Preference, is anticipated to have substantial financial implications for applicants. The comment period for the proposed USCIS rule, initially set to conclude in mid-March 2023, has been extended to March 2024. One of the noteworthy changes pertains to the EB-5 Visa Program, which grants approximately 10,000 visas annually to foreign nationals making substantial investments in U.S. businesses, leading to job creation.

Among the proposed fee adjustments, Form I-526, Immigrant Petition by Alien Entrepreneur, and Form I-526E, Immigrant Petition by Regional Center Investor, could see a significant increase to $11,160, marking a 204 percent rise from the current $3,675 fee. Additionally, the fee for Form I–829, Petition by Investor to Remove Conditions on Permanent Resident Status, may increase to $9,525, representing a 154 percent hike from the current $3,750 fee.

For Form I–956, Application for Regional Center Designation, the proposed fee is $47,695, reflecting a 168-percent increase from the $17,795 fee for Form I–924, Application for Regional Center Designation under the Immigrant Investor Program. The proposed fee for Form I–956F, Application for Approval of Investment in a Commercial Enterprise, is also $47,695, as it was previously an optional submission adjudicated on Form I–924.

Furthermore, the proposed fee for Form I–956G, Regional Center Annual Statement, is $4,470, representing a 47 percent increase from the $3,035 fee for Form I–924A.

These fee adjustments are part of the DHS’s broader effort to reform the EB–5 regional center program, responding to the EB–5 Reform and Integrity Act of 2022, which repealed the previous authorizing statute and established a reformed regional center program.

Source: Financial Express