John Burson  edited Wednesday, July 3, 2024

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Lower Fees Make EB-5 Program More Accessible for 2024 Applicants

Families eyeing the US Golden Visa, often referred to as the EB-5 program, are now in a race against time as they face an impending significant fee hike set to take effect on April 1. The US immigration office has announced a substantial increase in EB-5 Golden Visa program application fees, marking a critical juncture for potential investors. This development has led to an urgent call for action among those wishing to leverage the current lower fees.

Shahriar (Shai) Zamanian, an EB-5 expert and founder of The American Legal Center, underscores the importance of this final window for families to submit their applications before the fee increases. He advises potential applicants to expedite their application process to avoid the forthcoming steep fees. "Families interested in securing lower fees must act promptly during this filing window, or else face the significantly higher fees," Zamanian emphasizes.

The EB-5 program provides a pathway to permanent residency in the US through an investment of $800,000 in a government-approved real estate project. This investment allows families, including children under 21 and the main applicant's spouse, to obtain US Green Cards, affording them the freedom to live, work, and travel within the country.

The fee hike is designed to align application costs with the increased federal salaries and inflation rates since the last adjustment in 2016. The current filing fee of $3,675 will jump to $11,160, marking a 204 percent increase. This adjustment aims to ensure the US immigration office can sustain its operational expenses while maintaining high service standards.

This fee adjustment presents a crucial moment for the US government and applicants. By submitting applications before the deadline, applicants can enjoy lower costs and potentially quicker processing times while the government anticipates decreased administrative burdens and improved processing efficiency.

As the deadline approaches, Zamanian highlights the urgency for potential investors to promptly gather the necessary documents and choose an appropriate investment project. "Because interested investors from all over the world are rushing to file their applications during this filing window, spots are filling up in qualifying EB-5 projects" he notes, urging those on the fence to move now.

Navigating the EB-5 application can be daunting without the right guidance. The American Legal Center stands ready to assist applicants through this complex journey, offering expertise to ensure a smooth and successful application process amidst the rush to beat the fee increase. 

Original Source: https://www.khaleejtimes.com/kt-network/final-chance-to-secure-lower-fees-for-us-eb-5-golden-visa