US: Getting Green Card via investment route is becoming costlier
What's the story
The United States has announced a major hike in fees for immigrants looking to invest in the country and eventually gain permanent residency through the EB-5 investor program. The move, which will come into effect from November 30, is expected to have a significant impact on Indian entrepreneurs and families who rely on this route for obtaining Green Cards.
Fee increase
Fees for standalone investors and those using regional centers
The US Citizenship and Immigration Services (USCIS) has issued a final rule more than doubling the fees for applying to the EB-5 visa.
The filing fee for Form I-526, used by standalone investors, will go up from $3,675 to $7,615.
Similarly, the fee for an initial Form I-526E petition (for investors participating through an approved regional center) will rise from $3,675 to $7,850.
Breakdown
Additional fees for regional center investors
Along with the increased filing fees, initial I-526 and I-526E petitions will also attract a $75 technology fee.
Investors at regional centers will have to pay an additional investor integrity fee for the program.
The fee for Form I-829 (filed by investors wanting to remove conditions on their permanent resident status) will also go up from $3,750 to $5,000.
Surge
Major hike in fees for regional center applications
The fees imposed on regional centers are seeing a major hike.
The fee for an initial Form I-956 application seeking regional-center designation will go up from $17,795 to a whopping $44,115.
Meanwhile, the charge for Form I-956F (used to seek approval of an investment in a commercial enterprise) will rise from $17,795 to $42,675.
Adjustment
New Form I-527 introduced
The annual fee for Form I-956G has been reduced from $3,035 to $2,165.
The final rule also introduces Form I-527 for certain investors wanting to amend older Form I-526 petitions. This new filing will cost $10,330.
USCIS has clarified that it is mostly funded by the fees it charges and not taxes, stressing that those who use the immigration system should bear these costs.