Published: August 7, 2023
The procedures of Immigrant Petition by Alien Investor are getting updated. On July 18, 2023, USCIS announced that it will implement changes to cut down processing times and improve overall efficiency. This initiative is consistent with the goals of the recently implemented EB-5 Reform and Integrity Act of 2022.
What is EB-5 Visa?
The EB-5 visa is the fifth preference employment-based visa. It enables non-citizen investors to unlock permanent residency in United States and acquire green cards. Applicants may opt for direct or indirect investments. Direct investments cover non-Targeted Employment Areas where investors could choose the industry and place of their business. On the other hand, indirect investments involve businesses within government-selected areas that may need more economic stimulation and support. These areas are called Targeted Employment Areas (TEA).
How did the processes change?
USCIS implements a new inventory management approach to streamline EB-5 visa processing. The USCIS Immigrant Investor Program Office (IPO) will categorize visa availability and pending petitions into the following:
- Petitions with no visa availability yet
- Petitions involving projects IPO has not previously reviewed but have visa availability
- Petitions involving reviewed projects or “non-pooled” standalone projects with visa availability. This category also includes applications filed on or before Nov. 30, 2019
Invest with the Help of Topnotch Los Angeles Immigration Lawyers
Maintaining a business while being an immigrant is a challenge on another level. Whenever you feel burdened by the struggles of being an EB-5 investor, do not hesitate to approach us. ALG Lawyers‘ highly experienced and dedicated immigration attorneys offer a variety of legal services that help resolve your concerns.
(Please note that this article does not create an Attorney-Client relationship between our law firm and the reader and is provided for informational purposes only. Information in this article does not apply to all readers. Readers should not rely on this information as legal advice and should seek specific counsel from a qualified attorney based on their individual circumstances. Thank you.)