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Posts Tagged ‘EB-5 Immigrant Investor Pilot Program’
29th October 2010
In recent postings on this blog, the administration has noted that the United States Citizenship and Immigration Service (USCIS) is poised to raise some of the costs and fees associated with American Immigration. To quote directly from the official website of USCIS:
WASHINGTON - U.S. Citizenship and Immigration Services (USCIS) reminds customers that its new fee schedule goes into effect Nov. 23, 2010. Applications or petitions postmarked or otherwise filed on or after this date must include the new fee, or they will be rejected.
USCIS published the new fee schedule in the Federal Register on Sept. 24, following a comprehensive review of public comments received after publication of the proposed rule this summer.
The new fee schedule increases application and petition fees by an average of about 10 percent but does not increase the naturalization application fee.
Although no one likes to see fee increases, there are some who argue that an increase in processing fees is a necessary consequence of both inflation and the rising cost of the services sought. It should be noted that USCIS recently posted a shortfall and the recent fee increase would seem to be one response to this issue.
The new policy will also usher in new fees that have not previously existed. As they did not exist before it is not really correct to call the new fees “increases,” but as they result in new overall costs, the term increase could be used since the fee was technically increased from nothing to the new fee. To quote from another page of USCIS’s website:
The final fee rule establishes three new fees, including a fee for regional center designations under the Immigrant Investor (EB-5) Pilot Program, a fee for individuals seeking civil surgeon designation, and a fee to recover USCIS costs to process immigrant visas granted by the Department of State. Additionally, the final rule reduces and eliminates several fees, including some for servicemembers and certain veterans of the U.S. armed forces who are seeking citizenship-related benefits. The final rule also expands the availability of fee waivers to additional categories.
It is interesting to note that one of the newly instituted fees involves the EB-5 visa (also referred to as an investor visa). There are those who posit that the EB-5 visa might become increasingly popular in the upcoming months as the American dollar remains somewhat low compared to other currencies. Therefore, some foreign nationals could invest in EB-5 programs at comparatively cheaper rates due to the current exchange rate with the dollar. This is a net benefit to the United States as influxes of foreign capital would likely prove beneficial in a monetary sense while the infusion of foreign investors with a stake in the American economy could prove to be a catalyst for future innovation, economic activity, and overall growth.
As noted in a previous posting, the USCIS fee associated with the K-1 visa is expected to decrease when the final rule in promulgated. Although, Department of State fees associated with the K1 visa interview have recently been increased.
For related information please see: EB-5 Visa Thailand or K1 Visa Thailand.
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