Significant Enhancements to US E5B-Visa Processing Proposed
Monday, May 23, 2011
Significant updates to the administration of Immigration Investor Program - commonly referred to as the EB-5 Program - has been proposed by U.S. Citizenship and Immigration Services (USCIS) on May 19, 2011.This action is to transform the intake and review process for immigrant investors as part of the Obama administration's continued commitment to improve the legal immigration system and meet our economic and national security needs for the 21st century.
Annually, there have been 10,000 visas available made by US EB-5 Program to immigrant investors who invest in commercial enterprises that create at least 10 US jobs. International Investor in US through EB-5 program may petition independently or as part of a USCIS-designated Regional Center.
Alejandro Mayorkas, director of the US Immigration Department said that EB-5 Program was created by congress in 1990 to lured foreign investors and entrepreneurs all over the world to create jobs in America.
"We are dedicated to enhancing this program to ensure that it achieves that goal to the fullest extent possible." Mayorkas added.
Three basic changes to the way it processes EB-5 Regional Center filings have been proposed. They include premium processing; the creation of specialized intake teams to handle the Form I-924 applications, coupled with the applicants' ability to communicate directly with the specialized intake teams via email; and, the creation of an expert Decision Board to render decisions on the applications and to afford applicants with an in-person or telephonic interview to resolve issues.
On June 17, 2011, this proposal will be online for public comment - providing stakeholders a chance to offer feedback on the proposed changes to the administration of the US EB-5 Visa.