A new approach to visa processing will come into effect on March 31, 2020, which aims to speed up processing times for under-represented countries. Going forward, EB-5 I-526 petitions will no longer be processed in the order received, but instead processing will favour applicants from countries where visas are immediately available. So, applicants from countries which are currently backlogged (e.g. China, Vietnam, and India) will face an additional waiting time, while applicants from countries without a backlog will be processed first.
Confederation’s new EB-5 project is now available:
- Hyatt Fort Lauderdale Phase II. – 11 units available at USD $998,675 ($900,000 investment, plus all fees)
- Job creation requirement has already been met/exceeded
- Construction will be completed in 2020
- Phase II investors’ capital will replace 8% of developer’s equity; no minimum EB-5 raise required
- Applicant will receive a full refund after 5 years, plus 2% interest ($USD $990,000), so the applicant’s net cost is just $8,675
Under EB5, there is no language requirement, no age limit, and no management experience requirement. Applicants must have a net worth of minimum $1 million USD, and be able to document the source and path of funds for the investment and fees. Refused Quebec and Canadian investor cases are welcome to apply to EB5.
Note: the EB-5 investment level increased to USD $900,000 in November, 2019.
Please Contact Us for more information.