Over the past few weeks, the United States residency by investment program, better known as the EB-5 immigrant investor program, witnessed drastic changes in its landscape. With the announcement of the minimum capital requirement reduction from $900,000 to $500,000, applicants immediately rushed to file their petitions to take advantage of the lower investment threshold.
On the one hand families who had been impatiently waiting to file their petitions at $500,000 since the price increase back in November 2019 joyously celebrated the success of the biggest lawsuit in the modern history of the EB-5 program, but on the other hand foreign investors are faced with the lapse of the program as Congress failed to pass its reauthorisation by the June 30 deadline.
With his many years of experience in the EB-5 industry, the Legal Director at The American Legal Center in Dubai, Shai Zamanian, had the foresight to urge his clients to begin collecting their documents to be ready for the moment of the announcement of the capital reduction to $500,000.
“We had been discussing the possibility of a price change for at least six months before the change was implemented. We were actually nervous as we waited for the changes to take place as our reputation was on the line,” says Zamanian. With the proactive approach of the US licensed lawyers and professionals at The American Legal Center, there were able to file over 30 petitions within a window of less than one week.
While many were hesitant about the price reduction, Zamanian’s active efforts to spread awareness about the upcoming changes shows his great insight into the EB-5 program. Although the US Citizenship and Immigration Services is not currently accepting new applications, The American Legal Center is once again urging those interested in taking advantage of the $500,000 investment threshold to be prepared for the next filing window which they expect to occur in September.
“It is understandable that many were not able to collect their documents and transfer their funds on time to catch the lapsed filing window,” says Zamanian. “That said, our team has a unique solution to help those that missed the deadline but are still interested to file. We are always happy to have a discussion about your situation and offer a solution that works for you and your family.”
Contact The American Legal Center today to begin your migration journey to the United States and secure a stable future for the benefit of you and your family.