Los Angeles, CA, January 11, 2023
The U.S. Citizenship and Immigration Services (USCIS) is set to increase EB-5 Visa filing fees in 2023. The increase in EB5 Visa filing fees is proposed to help speed up processing times, cover operational costs, and maintain the humanitarian programs of USCIS. The EB 5 Forms that are to have adjusted filing fees include the I-526 petition for the initial EB-5 Visa application and the I-829 petition to remove conditions on permanent residency. The EB5 Visa is an immigrant program that is intended to promote economic growth through investment and job creation for American citizens.
Foreign investors have the opportunity to take advantage of the current filing fee for the initial EB5 petition during the 60-day comment period before the USCIS filing fee increase takes effect. Indian investors in particular are able to make partial investments in EB 5 projects through the Indian Financial Year Foreign Allowance. EB5 BRICS has a number of viable investment projects to help you qualify for the USA EB-5 Immigrant Visa. We work with US EB5 immigration law firms to assist you in processing your EB-5 petition before the proposed USCIS fee increase.
What is the USCIS Proposal for EB-5 Visa Filing Fee Increase in 2023?
The U.S. Citizenship and Immigration Services (USCIS) announced a notice of proposed rule-making (NPRM) to increase the filing fees for EB-5 Visa petitions on January 3, 2023. The USCIS proposal to increase EB-5 Visa filing fees resulted from the agency’s thorough review of its current fees which have not been amended since 2016. Below is the proposed adjustment of form fees related to the EB-5 Program.
| EB5 Form | Current Filing Fee (USD) | USCIS Proposed Adjusted Filing Fee (USD) | Difference (USD) | Rate of Increase (%) |
|---|---|---|---|---|
| Form I-526 (Immigrant Petition by Standalone Investor) | $3, 675 | $11, 160 | $7, 485 | 204% |
| Form I-526E (Immigrant Petition by Regional Center Investor) | $3, 675 | $11, 160 | $7, 485 | 204% |
| Form I-829 (Petition by Investor to Remove Conditions on Permanent Resident Status) | $3, 835 (with Biometrics Fee) | $9, 525 | $5, 690 | 148% |
| Form I-956 (Application for Regional Center Designation) | $17, 795 | $47, 695 | $29, 900 | 168% |
| Form I-956G (Application for Regional Center Annual Statement) | $3, 035 | $4, 470 | $1, 435 | 47% |
| Form I-956F (Application for Approval of an Investment in a Commercial Enterprise) | $17, 795 | $47, 695 | $29, 900 | 168% |
The EB5 Visa Program is an immigrant pathway for foreign investors who are able to invest a minimum amount in a U.S. enterprise. The EB Visa requires the minimum investment to create at least 10 full-time jobs for U.S. citizens. EB5 investors and their dependents are granted permanent residency (Green Card) if they met the investment and job creation criteria of the EB5 Program. Permanent Residence (Green Card) allows EB-5 Visa holders to live, work, and study indefinitely in the United States.
EB5 Visa investors initially gain a 2-year Conditional Green Card after the I-526 petition and adjustment of status approval. Investors for EB5 are then able to file for Lawful Permanent Residence (LPR) which is valid for 10 years after the successful removal of conditions with an I-829 petition.
What is the Importance of EB-5 Visa Forms?
EB5 Visa Forms are essential in processing the petitions for each stage of the USA EB 5 Program. USCIS received the EB 5 Forms and adjudicates the petitions to determine which investors are qualified to obtain permanent residency through investment.
Here are the specific purposes of each EB-5 Visa Form.
- Form I-526 is the petition used by standalone investors during the initial stage of the EB5 Visa application. Form I-526 contains information about the EB 5 investor, the sources of investment, and the job creation potential of the EB-5 project.
- Form I-526E is the petition used by regional center investors during the initial stage of the EB5 Visa application. Form I-526E is also used to prove ongoing eligibility for the EB 5 Visa in case the regional center, new commercial enterprise (NCE), or job-creating entity in which the initial EB 5 investment was made was terminated or disqualified from the EB 5 Regional Center Program. The EB-5 Reform and Integrity Act (RIA) of 2022 facilitated the addition of Form I-526E on July 12, 2022.
- Form I-829 is the petition used to remove the conditions on the 2-year Green Card. Form I-829 serves as the final stage in the EB5 process and grants Lawful Permanent Residence (LPR) status to EB5 investors and their families.
- Form I-956 is used to qualify as a regional center under the EB-5 Program. A regional center is an entity designated by USCIS to boost economic growth in the US through EB 5. Regional centers pool funds from multiple EB 5 investors to support EB5 projects. Regional center investors must wait for Form I-956 to be approved before filing their initial EB-5 petition.
- Form I-956G is used by regional centers to prove their continuous eligibility to qualify as economic units under the EB5 Visa Program. Approval of Form I-956G means that the Regional Center remains compliant and effective under the EB-5 Visa Program.
- Form I-956F is used by regional centers to gain approval for EB5 investment projects. Form I-956F must be approved by USCIS before an investor is able to file their I-526E petition.
What is the New EB-5 Form Issued by USCIS?
The USCIS notice of proposed rule-making (NPRM) included the announcement of a new EB 5 Form. Form I-956K (Registration for Direct and Third-Party Promoters) is a new USCIS EB-5 document released on January 4, 2023. Form I-956K is established in accordance with the EB-5 Reform and Integrity Act (RIA) of 2022 which requires all direct and third-party EB5 promoters to register with USCIS. There is no filing fee for Form I-956K.
The direct or third-party promoters (including migration agents) of the following are required to submit USCIS Form I-956K.
- EB5 Regional center
- A new commercial enterprise (NCE).
- An affiliated job-creating entity for EB-5.
- Issuer of securities to EB5 investors in relation to investment projects.
Why is USCIS Proposing an Increase in EB-5 Filing Fees?
The proposed increase in EB 5 filing fees will enable USCIS to cover its operational costs, shorten case processing times, and maintain the agency’s humanitarian programs. The adjustment of certain filing fees allows the agency to improve customer service towards applicants and petitioners and prevent further backlogs of incoming workload according to USCIS Director Ur M. Jaddou.
USCIS is set to host a public session on January 11, 2023 to give the EB-5 community a chance to comment on the proposed increase in EB5 Form filing fees. The public is given 60 days to comment on the adjustment of USCIS fees. Comments are accepted until March 6, 2023 after which the new USCIS filing fees are expected to be implemented.
How Do EB-5 Filing Fees Affect USCIS?
USCIS relies mostly on funding from filing fees paid by applicants and petitioners. Approximately 96% of USCIS funds come from filing fees. The agency conducts a review of immigration fee structures every 2 years, however, the last change in USCIS fees was effected way back in 2016. The effects of the COVID-19 pandemic, budget cuts, and overall reduction of new applications have increased the operational costs of USCIS as per the latest review. The total revenue of USCIS decreased by 40% and warranted an increase in filing fees for certain categories including EB-5 to sustain the agency’s operations.
Why Should I File for EB-5 Visa Before the Filing Fee Increase in 2023?
The proposed increase in EB5 filing fees is not yet final so you should take the opportunity to invest in the EB5 Immigrant Visa before the USCIS adjusted fees take effect. You get to save $7,485 if you file your I-526 petition before the 60-day comment period ends.
The form filing fees are only part of the total cost of the EB-5 Visa. The minimum investment is a substantial component of the total EB-5 Visa Cost. The EB5 investment amount has been subject to proposed increases in 2022 under the EB5 Reauthorization Bill. The draft of the EB5 Reauthorization Bill initially proposed a minimum investment increase from $500,000 to $700,000 for Targeted Employment Areas (TEAs). A Targeted Employment Area (TEA) is a rural area or region with high unemployment. EB5 investments in TEAs now require a minimum capital of $800,000 as per the 2022 RIA. EB 5 investments for non-TEA projects should be at least $1.05 million.
We at EB5 BRICS assist EB-5 immigrant investors in assessing and choosing the right investment projects. We currently have 6 EB-5 projects, including 3 Rural TEA projects, for investors who want to take advantage of the current USCIS filing fees to save on the total EB5 Visa Cost. We are partnered with immigration law firms who are experts in EB5 applications and are ready to help you process your I-526E petitions in the next 1 to 2 months or sooner.
How Can Indian Investors Maximize their Opportunities for the EB-5 Visa in 2023?
Indian investors living in India have the opportunity to benefit from the Indian Financial Year Foreign Allowance to qualify for the EB-5 Immigrant Visa. Couples or parents can remit $500,000 before March 31, 2023 and an additional $500,000 on or after April 1, 2023 as per the Liberalised Remittance Scheme (LRS) of the Reserve Bank of India (RBI). EB5 BRICS is here to help you make partial investments in EB 5 projects to maximize the Indian Financial Year Foreign Allowance.
We will be conducting sessions on the US EB5 Immigrant Investor Program in the following locations on the dates listed below.
- February 24-25: Dubai
- February 27-March 1: Mumbai
- March 2-3: Pune
- March 4-5: Bengaluru
- March 6: Chennai
- March 7-8: Hyderabad
- March 9-11: Delhi
- March 13-14: Singapore
Get more information on our EB5 Events and one-on-one meetings.