The U.S. Department of Homeland Security (DHS) announced on Thursday its plan to introduce a set of new regulations to reduce the application fees for the EB-5 Immigrant Investor Program, clarify the rules, and streamline the process. The proposed changes include a 14% reduction in application fees for the I-526 and I-526E forms, a 17% reduction in fees for the I-829 form, and the addition of a $95 technology fee.
A new I-527 form has been established specifically for investors whose Regional Centers have been terminated or removed, and it is designed for those who submitted their applications before March 2022 and are still pending review.
According to the fee schedule provided, adjustments will be made to the costs of the EB-5 program. The U.S. Citizenship and Immigration Services (USCIS) will establish an EB-5 technology fee and clarify the fees and penalties associated with the EB-5 Integrity Fund. Additionally, the I-527 form will be set up to handle legacy I-526 modification cases.
The new regulations will also clarify the process for when the spouses and children of foreign investors are not included in the submitted I-829 form, allowing them to separately submit their own I-829 forms.
Currently, the initial fee for standalone investors submitting the I-526 immigrant application (including the $95 technology fee) is $11,160. The proposed fee is $9,625, a reduction of $1,535 or 14% from the current cost. Similarly, the initial fee for Regional Center investors submitting the I-526E immigrant application is proposed to be $9,625, down $1,535 from the current $11,160, representing a 14% reduction.
Investors who have obtained conditional permanent residency under the EB-5 Immigrant Investor Program (holding a temporary green card) and are applying for a permanent green card through the I-829 form will also see a 17% fee reduction, bringing the cost down to $7,860.
These fees will be collected by the USCIS.
The proposed regulations are currently in the public comment period. Once the public feedback is reviewed and the final rules are published, they will take effect.
Under U.S. immigration law, certain employment-based immigrants can obtain legal permanent residency, also known as a green card. The EB-5 Immigrant Investor Program falls under the fifth preference category, requiring applicants to invest $1.05 million in a general area, $800,000 in a Targeted Employment Area (TEA), or new commercial enterprise infrastructure projects to promote U.S. economic development and create at least 10 full-time jobs for eligible workers.