Investors who are looking to obtain E-2 or EB-5 US visas should be prepared to face significant changes this year. The National Defense Authorization Act for Fiscal Year 2023, signed by President Biden, has introduced new policies regarding “E” immigration visa categories.
Meanwhile, the US Department of Homeland Security announced plans to increase I-526E filing fees for EB-5 visa investors.
So, if you are an investor interested in either the E-2 or EB-5 visas, we have put together this helpful article that explains what changes will be implemented this year.
One of the most groundbreaking developments in the E-1 Trader and E2 Investor visas is that Portugal has now been added to its list of treaty countries. This means that Portuguese nationals who meet the criteria for either the E-1 Treaty Trader or E-2 Treaty Investor visa categories can now apply.
On a less positive note, for citizens of treaty nations who obtained citizenship via investment, the path to obtaining an E-2 visa is proposed to become more regulated.
For those who have obtained citizenship in a treaty country through financial investment, the United States is expected to mandate that they have to maintain continuous residence in that country for at least 3 years before filing for an E-2 non-immigrant visa.
How would that work in practice? Take a look at our hypothetical example.
Suppose you were born in Japan and acquired Grenada’s citizenship by investment in 2024. You now wish to apply for an E-2 visa but still live in Japan and spend only a few weeks a year in Grenada.
Under the old rules, there was no law mandating a minimum amount of time spent in Granada before applying for an E-2 visa. However, the new regulation requires such applicants to demonstrate that they were residents in that nation (in this case, Granada) for at least 3 years prior to applying for an E-2 visa.
The guidelines are still in development; thus, it remains to be seen if holders of citizenship by investment will be required to be domiciled in that country for a continuous period of no less than 3 years at any point before applying for an E-2 non-immigrant visa. It is also anticipated that the policy will take into account additional criteria to assess each applicant on an individual basis.
Irrespective of how the policy will work in practice, this decision by the US government will cause shifts in the popularity of CBI programs.
Please note the following:
In addition to the changes in the E-2 visa, the US Department of Homeland security proposed a hike in filing fees.
EB-5 visa filing fees are related to different forms you need to submit as part of your application process and on top of the actual investment amount.
The anticipated fee schedule is not set in stone, but investors could expect to pay 3x times the original amount. You can see the cost breakdown in the table below.
|
Form |
Original Amount |
Proposed Amount |
|
I-H26E |
$3,675 |
$11,160 |
|
I-829 |
$3,835 |
$9,525 |
|
I-956 |
$17,795 |
$47,695 |
|
I-956G |
$3,035 |
$4,470 |
|
I-956F |
$17,795 |
$47,695 |
While the figures are not final, fee increases are anticipated to be implemented soon after the 60-day comment period concludes on March 6, 2023. Therefore, we urge investors to invest now before fees go up.
With new policy developments and anticipated increases in fees, there has never been a better time to secure an investor visa in the US.
At High Net Worth Immigration, we closely monitor the situation to bring our clients up to speed and ensure that they take advantage of the best conditions to apply.