On Jan. 4, the Department of Homeland Security published notice in the Federal Register of their intention to increase fees for participants in the EB-5 visa program. The proposed fee hikes will impact Immigrant Investors using the EB-5 visa program to achieve permanent residence through the program.
The EB-5 visa program requires participants to file two separate petitions. The initial petition, required to achieve conditional permanent residency, is form I-526E. Form I-526E is filed by EB-5 investors immediately after making the required investment.
The second petition, form I-829, is filed ninety days prior to the completion of the EB-5 participant’s two-year sustainment period under their conditional permanent resident status.
Combined, the proposed fee schedule increase for both petitions will add $13,260 to EB-5 participants’ total costs.
The proposed fee schedule is currently in a 60-day comment period that will last until March 6, 2023. The USCIS may still make adjustments to the proposed fee schedule following the comment period.
For prospective participants in the EB-5 visa program, now is the time to strongly consider moving forward with a high quality CMB EB-5 project offering. If an EB-5 participant delays filing their petition he or she could experience a substantial increase in the amount necessary to file his or her immigration petitions.
Contact us to discuss the benefits of moving forward prior to the proposed rate increases. Our team of EB-5 professionals is available to answer your questions on the EB-5 program, CMB, and demonstrate how CMB’s 25-year history as a leader in the EB-5 industry can help you achieve your American dream.
We’re excited to announce that a limited partner in our Group 70 EB-5 partnership recently received approval from the USCIS on their I-526 petition. This is great news for all limited partners in Group 70 and we at CMB would like to extend our heartfelt congratulations on reaching this important immigration milestone.
The Group 70 partnership, in collaboration with Hillwood Development Company, provided funding to support the development and construction of four industrial/logistics facilities in California and Florida.
We expect to see additional I-526 approvals for immigrant investors in the Group 70 project in the near future!
The Reform and Integrity Act was signed into law in March of 2022 and made multiple changes to the EB-5 investor visa program. One notable change is the ability for foreign nationals to file for adjustment of status immediately after filing an I-526E petition. This ‘concurrent filing’ provides foreign nationals on a temporary visa the ability to remain in the U.S. while they pursue permanent residency through the EB-5 visa program.
HOW IT WORKS:
Following the updates to the EB-5 program, workers on a temporary visa and students who are already residing in the United States have the ability to file Form I-485 immediately after filing Form I-526E, which is the first step in the EB-5 process. This will allow anyone on a non-immigrant visa to remain in the U.S. while awaiting approval of their I-526E form from the USCIS. Previously, individuals in the U.S. investing in EB-5 visa were required to wait until after their initial I-526 petition had been approved to apply for an adjustment of status. The EB-5 visa program can be utilized by foreign nationals already residing in the U.S. under any (non-immigrant) temporary visa, the most common of which are:
-H-1B
-E-2
-F-1
-L-1
BENEFITS OF EB-5:
A successful EB-5 investment can result in permanent residency for the primary investor, their spouse, and any unmarried children under the age of 21. Investors would not have to rely on a lottery system (as they would if they were pursuing an H-1 visa). After filing for an adjustment of status, EB-5 investors may have more flexibility in employment opportunities as opposed to H-1 visas, with concurrent filers being allowed to apply for jobs other than the sponsoring employer or an investment business. An investor may decide not to work at all. Prior to pursuing the potential benefits of concurrent filing, one should seek the advice of a qualified immigration attorney.
A DEEPER LOOK AT H1-B:
The H1-B program allows foreign nationals to work in certain occupations in the U.S. H1-B visas are limited to 65,000 visas per year with an additional 20,000 set aside for foreign nationals holding more advanced degrees such as a masters or doctorate from a U.S. institution. The H1-B visa program contains many restrictions on who a foreign national may work for and what work they’re permitted to do. Additionally, the H1-B visa program operates under a lottery system, which means many qualified applicants may never have their application reviewed. Employers are required to file the H1-B visa on behalf of the foreign national hoping to work in the U.S. which can be a lengthy and expensive process.
The H1-B visa program is also only available to applicants for a maximum of six years. If selected for the program, three years of residency will be granted, with the option to renew the visa for a maximum of six years. The H1-B visa program typically receives far more applications than there are visa available.
In addition, to the costs and time constraints, the process also requires an extensive amount of paperwork to be presented. This paperwork can include but is not limited to a detailed job description, copies of training certificates, business plan, etc.
A DEEPER LOOK AT F-1:
An F-1 visa allows international students to study in the U.S., at all levels of education. A student applying for an F-1 visa must be enrolled as a full time student. If granted, an applicant’s F-1 visa is temporary, only available during their time a student is actively enrolled.
International students intending to study in the U.S. on an F-1 visa may be limited when selecting specific universities, as some have quotas on the percentage of their students who fall into this category.
For families that have already migrated to the United States through the EB-5 program and achieved permanent residency, their children will be able to attend public universities in the U.S. at the same cost as American citizens. This can result in significant savings, as foreign nationals on an F-1 visa often pay much higher tuition.
A DEEPER LOOK AT L-1:
An L-1 visa, is a non-immigrant visa that allows recipients to work for an authorized L1 employer in the United States. The L-1 visa, like mentioned above, is temporary. It would only allow recipients to remain in the U.S. for three years, with the opportunity to extend the stay for a maximum of seven years. As previously mentioned, an EB-5 visa may be much more appealing for prospective investors, as their immigration status will be permanent and not tied to their employment. Like many other temporary visas offered, the L-1 visa also has requirements that those interested must meet. This includes the U.S. Company being required to file the petition on behalf of the recipient. The company in the U.S. must also be a parent, branch office or affiliate of the foreign company. Applications are also limited to employees who worked in a managerial, executive or specialized knowledge capacity with their foreign company and their work in the U.S. needs to meet the same criteria.
SUMMARY:
The EB-5 visa program can be an excellent solution for foreign nationals hoping to pursue permanent residence in the United States. It can be a key tool for families hoping to provide a high quality education for their children, or for workers hoping to access professional opportunities in the United States.
LEARN MORE AND APPLY:
For more information regarding The EB-5 visa program or CMB’s current investment opportunities, please contact us HERE.
Our newest EB-5 investment opportunity, CMB Group 81: Inland Empire Industrial, is now open for subscription. The project involves the development and construction of three logistics warehousing facilities in southern California.
Hillwood Development Company will serve as the borrower and project developer for the Group 81 projects. Over the past decade, CMB and Hillwood have built what we believe is the strongest Regional Center/Developer relationship in the EB-5 industry. CMB has collaborated with Hillwood on 35 different EB-5 partnerships throughout the United States.
Since Group 81 is located in a Targeted Employment Area (TEA), EB-5 investors that choose to invest in the partnership will qualify to access the high unemployment set-aside visas allocated under the EB-5 Reform and Integrity Act of 2022(RIA). This will also allow for shorter visa wait times for investors that come from backlogged countries. Prospective investors should discuss this opportunity with their immigration attorney and act now.
We’ve seen a surge in demand over the last few months since EB-5 regional centers are now able to accept investors into EB-5 investment partnerships. CMB’s Group 78 was our first of now four EB-5 opportunities we’ve made available in 2022. Group 78 opened immediately following the EB-5 reauthorization in June 2022 and has been fully subscribed. Our second offering, Group 82, is nearing full subscription and we recently opened Group 83. In addition, we already have significant interest in Group 81, if you would like more information please contact us HERE.
CMB is honored to have assisted over 5,800 immigrant investors from 100+ countries that have chosen to investor in one of CMB 80+ EB-5 investments to pursue permanent residence in the United States. CMB’s project development team is hard at work finalizing our next EB-5 opportunities, we hope to announce those soon!
CMB is proud to announce that CMB Group 78, which is funding a pair of pre-leased logistics facilities in the San Bernardino, Riverside area of southern California, has fully subscribed all of its available units as investors file their I-526E petitions. Group 78 is the first partnership CMB opened following the enactment of the EB-5 Reform and Integrity Act of 2022.
With nearly 2,700 jobs being created through the development and construction, Group 78 allowed for $75.5 million of EB-5 funding while ensuring that each investor would create nearly triple the ten jobs required. We look forward to seeing the continued progress that our borrower, an affiliate of Hillwood Development Company, makes over the coming months to bring these quality projects to completion.
With the closure of Group 78, CMB now has two top-tier investment opportunities available for subscription by interested immigrant investors. CMB Group 82 and CMB Group 83 are each set to fund projects being developed by Hillwood.
With the closure of Group 78, CMB now has two top-tier investment opportunities available for subscription by interested immigrant investors. CMB Group 82 and CMB Group 83 are each set to fund projects being developed by Hillwood.
With the closure of Group 78, CMB now has two top-tier investment opportunities available for subscription by interested immigrant investors. CMB Group 82 and CMB Group 83 are each set to fund projects being developed by Hillwood.
CMB Group 82 announced earlier this week that it had received an official receipt notice from USCIS, which will allow investors to file their I-526E petition. With new legislation requiring that the project petition receives its receipt notice by USCIS prior to individual petitions being accepted, this is a big step for investors looking to fund and file immediately. The target project of Group 82 is a build-to-suit logistics facility that has been pre-leased to a major Fortune 500 company for seven years. The project is located in Hazleton, Pennsylvania and significant job creation has already taken place, meeting the job creation requirement for all investors in the partnership.
CMB Group 83 will provide financing for various phases of development and construction of a residential condominium and mixed-use project in the San Francisco bay area. CMB has filed the project petition (I-956F), and is currently awaiting receipt notice from USCIS. Now is a great time to consider Group 83, as it will fill quickly once issued a receipt notice.
Hillwood is a Dallas based multi-billion dollar real estate developer specializing in logistics as well as master-planned residential communities. CMB and Hillwood have developed the strongest lender-borrower relationship in EB-5 today with over 30 separate EB-5 partnerships serving as a lender to Hillwood projects. CMB and Hillwood continue to maintain a perfect track record with project approvals at both the I-526 and I-829 stage.
CMB is excited for the future, and pleased to continue offering high quality investment opportunities that meet and exceed the requirements of the new legislation. If you have any questions, we can be contacted at [email protected] or 309-797-1550.
CMB engages Prevail Capital, LLC, a broker-dealer registered with the SEC and a member of FINRA and SIPC, to be the administrative placement agent for all CMB EB-5 partnerships.
CMB Regional Centers collects and uses certain personal information, including through the use of cookies. Information collected through cookies is used to improve user experience on our site and analyze how it is used.
California residents have certain rights with regard to the collection and use of their personal information.
