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As the first quarter of 2017 comes to an end, it is clear that 2017 continues to provide opportunities for businesses to expand into the US market, relocate foreign national employees to a US branch, and allow foreign investors to obtain green cards through a keeps. Worthwhile capital investment. However, many people are wondering what changes are coming regarding US business immigration law, as well as whether the new presidential administration will affect their ability to travel to the United States for work or pleasure.
Regardless of any potential changes to US immigration law as a result of Trump’s presidency, the United States is still a safe place to invest and grow a business. Since the election, there has been increasing interest in visa programs such as the E2 Treaty Investor Visa and the EB5 Immigrant Investor Visa. This may be partly due to the fact that Trump’s immigration rhetoric did not extend to these visa categories. However, since the election, Trump has also reversed his tough stance regarding the H1B specialty occupation visa category.
While the fate of undocumented aliens in the country remains uncertain, American business immigration will continue to be popular and contribute to the thriving American economy. Additionally, any significant changes to US immigration policy would need to be approved by Congress. There is only so much a sitting president can do using executive orders.
Some potential customers have expressed concern that a Trump presidency will lead to the dissolution of popular business immigration categories such as the E2 Treaty Investor visa. Fortunately, this is unlikely. Many E2 treaty countries have maintained corresponding treaties with the United States for dozens of years. Some, as in the case of the United Kingdom, have hundreds in place. The Treaty of Commerce and Navigation between the United Kingdom and the United States dates back to the reign of George III in 1815. The United States can only withdraw from a ratified treaty, according to the terms of the agreement. Additionally, for Trump to unilaterally pull out would be highly unpopular with E2 treaty countries, the American public, and US citizens, who enjoy the same benefits as starting a business abroad in a reciprocal E2 treaty country.
Immigrant entrepreneurs and investors were rarely mentioned (if any) during the campaign, and it was also revealed that President-elect Trump’s son-in-law had used EB5 investor funding for one of his real estate development projects. was used. In fact, the recent expansion of the EB5 immigrant investor visa program has made it even more attractive to foreign investors who want to immigrate to the United States permanently.
The EB5 Regional Center investment was set to close on 9 December 2016. As before, the program has been temporarily funded and extended until 28 April 2017 – with no changes to the minimum investment amount or requirements. What makes this expansion unique is that it will likely be the last before Congress raises the minimum capital contribution – something that has been under discussion for the past few years. This temporary extension allows ‘as is’ investors to file their EB5 petitions during the first four months of 2017 at a reduced investment amount of $500,000 USD for projects located in Targeted Employment Areas (TEAs). This is certainly a welcome relief for those investors who have failed to settle their petitions before the deadline of 9 December 2016.
With the expansion of the EB5 program, USCIS will significantly increase its filing fees for the I-526 petition and I-924 application for Regional Center Designation beginning December 23, 2016. Currently the filing fee for submitting an EB5 petition is $1,500 USD. This fee has increased to $3,675 USD since December 23 – an increase of $2,175 USD. Perhaps most important is the EB5 fee increase for businesses looking to set up a USCIS-approved regional center. That fee, which is currently $6,230 USD, jumps to $17,795 USD – an increase of 186%.
Regional centers are also required to file an annual certification in order to maintain their designation with USCIS. There is currently no fee for this process, but a fee of $3,035 USD will be introduced along with other USCIS fee changes. The purpose of the large increase in filing fees for Regional Center Designations is to prevent EB5 fraud by limiting applications to serious businesses with the means to support large EB5 projects. It is likely that 2017 will see a decrease in I-924 applications given the large fee.
The pending USCIS fee hike will affect EB5 visas as well as other US business immigration categories. Form I-129, which is used to file for L and H1B visas, will increase to $460 USD, among other things. Sponsoring a foreign worker for a green card through Form I-140 will be increased to $700 USD. These fee increases, while significantly less than the EB5 fee, may deter small U.S. companies from sponsoring foreign workers in nonimmigrant or immigrant status.
Despite fee hikes and a new US president, the prospects for business immigration are looking bright in 2017. Companies are still expanding stateside, and the need for specialized foreign workers remains high. The expansion of the EB5 immigrant investor visa program will continue to make the United States a cost-effective option for immigrant investors seeking permanent resident status.
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