As the 21st of November approaches, applications for the US EB-5 visa have been soaring and it is good news that the Continuing Resolution – extending the EB-5 Regional Center Program to 21 November – was signed by President Trump. This allows enough time for all the applicants to hurry and submit their petition with the Regional Centers up until the same day of the Modernisation Regulation.
With the unrest in South Africa and subsequent concerns for their children’s future, a lot of HNW families are racing to apply for the EB-5 visa before the final date when the minimum investment will then increase to $900,000 USD. With this a lot of South Africans will still hold their SA citizenship but at the same time hold a US Green Card.
It is better to invest now for the US EB-5 visa, as there will be more difficulties post 21 November. Not only will the cost increase to $900,000 USD (bearing in mind that there are other costs for legal fees, due diligence etc…), but the Targeted Employment Areas (TEA), will change, perhaps to areas that are not as sought-after and more rural.
With this new change, not only are the applicants adjusting to the rules, but also the whole of the industry will be adjusting to a new process and the system.