The United States Northern District Court of California has reduced the EB-5 residency visa minimum investment to $500,000.
With this new development, investors can now secure their spot in an EB-5 project at the $500,000 investment level to become eligible for an EB-5 green card.
In 2019, the U.S. implemented changes in the EB-5 investor programme as part of a comprehensive EB-5 modernisation law passed by Congress.
The most notable change was the increase in the minimum investment amounts from $500,000 to $900,000 for Targeted Employment Area (TEA) investments and $1 million to $1.8 million for non-Targeted Employment Area (TEA) investments.
Houston EB5, through the years, has worked towards assisting international investors, especially Nigerians to gain the permanent United States residency in return for making a qualified real estate investment.
Chief Executive Officer, 3Invest Limited, Ruth Obih speaking at a press briefing, stated that the 2019 increase to $900,000 saw a drop in the level of investors.
She called for intending investors to key into the new opportunity. “Just like the US lottery, this may be a rare opportunity for families, who want to obtain a second passport through U.S. EB5 investment,” Obih said.
The new policy saw the statutory authorisation related to the EB-5 Immigrant Investor Regional Centre Programme expired at midnight on June 30, 2021, this lapse in authorisation does not affect EB-5 petitions filed by investors, who are not seeking a visa under the programme.
Obih explained that only EB5 investment and projects creating direct employment such as Moderno Forcelain Works, which is the latest project currently offered by Houston EB-5 will qualify for the EB-5 Visa.
She said: “Moderno Porcelain Works, is currently one of the few approved operational businesses in the EB-5 industry ready to process direct EB-5 investments in the U.S. Moderno Porcelain Works offer a more personalised investment opportunity and raises smaller capital to begin each project.
Managing Director, Houston EB5, Azuike said: “Another attractive aspect of the new opportunity is that returns are paid yearly instead of being accrued. Houston EB5 chose to offer an EB-5 Visa investment in Moderno for several strategic reasons including the ability to provide repeatably and predictable results.”