The United States Citizenship and Immigration Services (USCIS) has announced significant increases in the filing fees for EB-5 visa applicants, effective from April 1, 2024. These changes are part of a broader adjustment in the USCIS fee schedule aimed at recovering the full operational costs of processing immigration applications. The EB-5 program, which allows investors to obtain U.S. permanent residency by investing in job-creating ventures, will see a substantial rise in costs across various forms required for the application process.
Here’s a summary of the key fee increases:
- The fee for Form I-526E, Immigrant Petition by Alien Entrepreneur, will increase from $3,675 to $11,160.
- The fee for Form I-829, Petition to Remove Conditions on Permanent Residence, will rise from $3,750 to $9,525.
- The fee for Form I-956, Application for Regional Center Designation, and Form I-956F, Application for Approval of an Investment in a New Commercial Enterprise, will jump from $17,795 to $47,695 each.
- Additionally, the filing fees for ancillary forms such as Form I-485, Application to Adjust Status, and associated biometrics services, as well as Forms I-765 and I-131 (for employment and travel authorization, respectively), will now require separate filing fees, further adding to the overall cost for applicants.
These fee increases reflect the USCIS’s move towards a full cost recovery model, indicating a significant rise in the financial burden on EB-5 investors and regional centers. The USCIS aims to increase its fee-generated revenue, with the projected revenue from EB-5 fees estimated at $139.7 million, up from the previous $80.7 million. This change aligns with the agency’s broader goal of ensuring the sustainability of its operations through fee collections, as it relies heavily on these funds for its budget.
Prospective EB-5 investors are encouraged to file their applications before the April 1, 2024, deadline to lock in the current, lower fees. This strategy is especially relevant given the substantial increases, as many regional centers and projects are accepting partial investments to facilitate the filing of new I-526E Petitions by the deadline.
For those considering the EB-5 visa route, it’s now more important than ever to plan and prepare your applications with these changes in mind. Consulting with an experienced immigration attorney can provide personalized guidance and help navigate the complexities of the EB-5 program and the impending fee increases.
