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The sought-after EB-5 Investor Programme has become more accessible for a limited time only. As announced on 22 June 2021, by the U.S. federal court. Immigrants can now diversify their investment portfolios for a lower fee of $500 000 (as opposed to the previous rate of $900 000) to secure green cards, for a limited period only – until 30 June 2021.
This change in legislature was a result of the success of a lawsuit that aimed to challenge USCIS (United States Citizenship and Immigration Services) regulations which violated the Administrative Procedures Act (APA) signed by the former Secretary of Homeland Security in November 2019. This was based on the fact that the former Secretary wasn’t serving his position lawfully, he signed the Final Rule in July 2019.
As a result, the Court has set aside the Final EB-5 Rule and has remanded the matter back to the Department of Homeland Security. This case was decided by U.S. Magistrate Judge, Jacqueline Scott Corley, who abandoned the rule that increased the investment amount from $500 000 to $900 000. Which means that under the Federal Vacancies Reform Act of 1998, the rule is void.
Stuart Ferguson, CEO of American Dream reveals, “This accessible opportunity couldn’t come at a better time – since the beginning of the Covid-19 pandemic we’ve observed a rise in immigration from South Africa to other countries with America being one of the most desirable locations from an investment perspective as well as lifestyle, education and opportunities.”
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12 Star Capital was created to offer a streamlined and trusted route for EB-5 investors. Through their comprehensive knowledge, partnerships with industry experts, American Dream is able to assist you in practically every phase of your relocation to the USA, from consultation to education and advice. With this new ruling, American Dream encourages potential investors to act now – contact them today.
