LOS ANGELES, Aug. 3, 2023 /PRNewswire/ — EB5 BRICS proudly celebrates the exceptional accomplishment of one of its clients who obtained USCIS Form I-526E approval in a record time of 11 months. EB5 BRICS’s client invested in a rural area project and received the benefit of priority processing and access to the 20% visa set aside of the global quota.
“It is amazing to see RIA’s prioritized processing for rural projects at work. Given adjudication times, I could have never imagined receiving approval in less than a year. Working with Vivek Tandon from EB5 BRICS/Sequence Financial and the regional center project he recommended as most suitable for my needs was pivotal to getting my I-526E approved so quickly. I highly recommend Vivek as an EB-5 advisor.” – D.V.
This is a significant advancement in the EB-5 industry by allowing investors to obtain their I-526E approval quicker. EB5 BRICS’s client became one of the first few investors to receive an I-526E approval in a record time of 11 months, having filed in August 2022.
Such achievement emphasizes the commitment of EB5 BRICS in providing expert guidance and support to our clients in their EB-5 visa journey. EB5 BRICS will remain dedicated to leveraging our expertise in EB-5 investments so success stories like this become the norm.
This remarkably quick approval of the I-526E application was made possible by the implementation of the EB-5 Reform and Integrity Act of 2022.
Enacted in March 2022, this new legislation introduced significant changes to the EB-5 program, most notably the introduction of visa-set-aside categories catering to foreign investors. These special categories target investments in rural Targeted Employment Areas (TEAs), infrastructure projects, and areas facing high levels of unemployment. Under the provisions of the new bill, 32% of the annual visa allocation is now designated for investors who invest in projects falling within these categories. More specifically, the annual reserve of visas set aside for TEA projects is distributed as follows: 20% of visas are exclusively reserved for foreign investors who invest in rural areas, while 10% are allocated for investors targeting high unemployment areas, and the remaining 2% are designated for investors participating in infrastructure projects.
New EB-5 investors who file their I-526E petitions after March 15th, 2022, and choose to invest in rural projects, not only gain access to the 20% annual visa set-aside but also enjoy the added advantage of priority processing, as stipulated by the new legislation. The exact timelines for approval have not been stipulated by the USCIS but commentators in the EB-5 industry estimate an I-526E approval of 12 to 18 months, as opposed to the traditional I-526E approval times of 24 to 56 months.
About EB5 BRICS:
EB5 BRICS offers foreign investors the opportunity and expertise to gain permanent residency in the United States. Vivek Tandon and his team partners with Regional Centers, business and tax law experts, and real estate and business management professionals to help clients achieve their goals of investment-based immigration to the United States.
If you’d like to meet and discuss EB-5 immigration and EB-5 investments including pre-vetted Regional Center EB-5 Projects, please fill out the form.
Vivek Tandon, Esq
EB5 BRICS, LLC
8383 Wilshire Blvd., Ste. 800
Beverly Hills, CA 90211
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SOURCE EB5 BRICS