The EB-5 program provides foreign nationals with an opportunity to invest in job-creating projects in the United States and gain permanent residency. While the program has been popular among investors, it has also faced criticism for fraud and misuse of funds.
To address these issues, the EB-5 Reform and Integrity Act of 2022 was passed by Congress. Under the new law, the EB-5 Integrity Fund was established to help administer the program and prevent fraud and other crimes.
As part of the new law, the USCIS will begin collecting an annual fee from designated regional centers to finance the EB-5 Integrity Fund. The fee amount is $20,000 for regional centers with more than 20 investors and $10,000 for those with 20 or fewer investors. The first payment is due by April 1 and can be made online at Pay.gov.
It’s important to note that failure to pay the fee within 90 days of the due date will result in the termination of the regional center’s designation. USCIS will also impose a late fee beginning on October 1, 2023, for any payments made 30 days later than the due date.
Call our Princeton Immigration Law Firm Today!
To ensure compliance with the legal requirements of the EB-5 program and protect your investment, it’s crucial to seek the guidance of an experienced immigration lawyer. A Princeton EB-5 visa lawyer can help you navigate the complex process of investing in the EB-5 program, ensure that you’re meeting all of the legal requirements, and protect your investment. Don’t hesitate to contact Inderjit K. Sidhu Esq. LLC today to ensure that you’re on the right path to achieving your investment goals.