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Proposed changes to EB-5 program unveiled

U.S. Citizenship and Immigration Services (USCIS) has announced new proposed rules regarding the EB-5 visa program that seek to shorten the process for some EB-5 applicants. The new rules propose three changes in the way the agency processes Regional Center filings. The EB-5 visa program proposed changes were announced last week as the agency seeks public comments on the rule changes until June 17, 2011.

Miami employment based immigration attorneys know that the EB-5 program was created in 1990 as a method to encourage job creation in the United States. A foreign national can obtain a green card through the EB-5 program. The program seeks foreign investment that will benefit the goal of job creation in the United States. USCIS seeks to enhance the EB-5 program through the new proposed rules.

The proposed rules include a streamlined processing track available for projects that are already developed and ready for implementation. The Premium Processing Service would guarantee processing of EB-5 visa applications within 15 calendar days for an additional fee.

A second change includes the creation of specialized intake teams. The teams would be formed with personnel who have expertise in economic analysis and requirements under the EB-5 visa program. The agency believes the intake teams will be able to streamline resolution of issues and address questions raised by applicants. The intake teams and applicants would be allowed to directly communicate via e-mail during the intake process.

The third proposed change involves convening an expert Decision Board to render decisions regarding Regional Center applications under the EB-5 program. USCIS says the Decision Board will include an economist and adjudicators with the support of legal counsel. The decision Board is expected to streamline the process of adjudication.

Source: Indian Express, "Green card: Now, premium processing for foreign investors," 20 May 2011

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