Faster processing time available for potential EB5 investors currently residing in the US
As the Omnibus Spending Bill of Congress rolled out, thousands of investors welcomed the news, after a year-long limbo in the Regional Center area has ended.
Those interested in pursuing the EB5 route now need to wait 60 days from the day of reauthorization before filing their initial application.
On the front of processing times, however, the spending bill included further great news:
Concurrent filing of Adjustment of Status for those EB-5 investors who are in legal status in the U.S., and are eligible for a visa number, became available. This is a positive change from the old system where an investor had to wait for the approval for his/her underlying I-526 petition for 5-6 months before becoming eligibile to submit a petition for registering permanent residency status and waiting another 6 months for approval.
Now, under the reformed system, the would-be immigrant investors can file both petitions together, thereby significantly decreasing the wait time before getting their green cards.
Schedule your consultation today with our law firm to evaluate your options and chances of securing permanent residency in the US through investing in an existing American business venture or by starting your own.
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