Does the new Senate Immigration Bill change investor visas? (Part 1)
The new Senate Bill does not change the present E-1 and E-2 Treaty Trader visas and there is no change to the EB-5 investor visa program. There was a proposal to increase the required investment from $500,000 to $875,000 for Regional Centers, but that proposal did not end up in the final Senate Bill 744.
Simply stated, no changes in the present investor visas, only additional investor options were created. The new immigration bill creates an “X visa” for entrepreneurs that have attracted at least $100,000 in investment or created at least 5 jobs during a two year prior to filing the application with US CIS, and the business must have generated $250,000 in annual revenue. If the above criteria have been satisfied, a three year visa will be granted. There is no indication of what status the non-immigrant must have during two years prior to the application. Moreover, it appears that the applicant cannot have dual intent; which will dissuade investors from using this program.
There is a new EB-6 Immigrant investor visa which requires the investor have significant ownership and significant role in a US start up business. In the prior 2 years, the US Business must have created five jobs and generated $750,000 in yearly revenues, or the US Business must have created 5 jobs and received a minimum of $500,000 in investments. If the EB-6 is approved, the applicant will receive permanent residency.
If this part of the Senate Bill passes, the EB-6 will mostly will negate many normal EB-5 one million dollar investors. Many applicants will still chose the RegionalCenter for the EB-5 program because they can be less involved in the day to day operations. However, the EB-6 program will be easier to obtain a green card than the traditional EB-5 one million dollar investment option.
Immigration Lawyer Andrew P Johnson has been requested to speak in front of a delegation of UN Ambassador in New York City and a delegation of United States Ambassadors in Washington D.C. regarding EB-1, EB-2, and EB-5 visa. Please email us at firstname.lastname@example.org if you have any questions