EB-5 Visa Fee To Be Increased!

India is one of the countries where the number of applications for US visa is increasing every year. The wait time to get a visa is also increasing, along with the application fees. As per the immigration lawyers, the cost of an EB-5 investor visa is going to be increased from 21^st November, 2019. In view of this, the number of applications to get this visa is likely to increase in the next four months.

The EB-5 visa is one of the fastest routes to get a green card in the US. So, although there will be an increase in the fees and it will affect many aspiring people, lawyers still believe that the applications to get EB-5 visa will not decrease. Since the inception of the EB-5 program, it is the first time, that there is a hike in the fees.

Mark Davies, the Global Chairman at Davies & Associates LLC, an immigration law firm headquartered in New York City, said, “There is a particular sense of urgency in India where retrogression delays were announced last month. Anyone interested in an EB-5 visa should prepare an application as soon as possible to maximize the chances of locking in the current rate, as well as assure the best possible spot in the queue. The exact length of the retrogression delay in India remains unclear, but we suspect this to be beyond four years, although pending legislation could bring some respite.”

The new minimum investment level for the EB-5 visa is raised from $500,000 to $900,000.