NKIC Newsletter - October 2015 Archives - Page 2 of 2

Legislation has been proposed to postpone the proposed EB5 investment increase until December 11, 2015. That is, the current USD $500,000 investment level would remain in effect for all applications filed with the United States Citizenship and Immigration Services (USCIS) before December 11, 2015. After that time, investment levels would increase from USD $500,000 to USD $800,000 in Targeted Employment Areas (TEA), and from USD $1M to $1.2M in non-TEAs.

To lock-in cases under the existing pricing and program, it is highly recommended that you submit any pending EB5 cases to Confederation right away, work with our team to complete the documentation requirements quickly, and encourage your clients to transfer their funds as soon as possible, so that their applications may be sent to USCIS prior to December 11, 2015. It is possible that some small changes to the source of funds requirement will also occur in December, and we will keep you apprised as further details become available.

Under EB5, there is no language requirement, no age limit, and no management experience requirement. Applicants must have a net worth of minimum USD $1 million and be able to document the source and path of funds for the investment and fees. There is no longer an Office of Foreign Assets Control (OFAC) requirement for Iranians, and refused Quebec and Canadian investor cases are welcome to apply to EB5.

Please Contact Us for more information on this program.

Changes to the fee structure were proposed by Government of Dominica and were implemented on September 1, 2015:

Due diligence fee for spouse to increase to USD $7,500 (from $4,000);
Due diligence fee of USD $2,000, for each dependent age 12-16, to be introduced;
Government processing fee of USD $3,000 to be introduced; and
Certificate of Naturalization fee of $750 per person to be introduced.

In addition, increases to the investment amount (under the One Time Payment option) have been proposed, for implementation on August 1, 2016:

the investment amount for a single applicant will increase to USD $175,000 (from $100,000);
the investment amount for an applicant and spouse will increase to USD $225,000 (from $175,000);
the investment amount for an applicant and 2 young children (under age 18) will increase to USD $225,000 (from $175,000);
the investment amount for an applicant, spouse, and 2 young children (under age 18) will increase to USD $250,000 (from $200,000); and
the investment amount for additional dependents (of any age) has already been changed to USD $50,000 (whereas in the past the dependent’s age determined the amount).

Please Contact Us for more information on this program.

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