Form split into two versions, one for standalone investor, and the other forÂ regional center investor
US Citizenship and Immigration Services (USCIS) has released new forms for the EB5 investor visa program providing a faster route to American residency or the green card through investment.
The Form I-526, Immigrant Petition by Alien Entrepreneur, has been revised in accordance with the EB-5 Reform and Integrity Act of 2022, which made significant changes to both the filing and eligibility requirements for investors under the EB-5 program, the immigration agency announced July 12.
Read: EB5 visa now also attracting students and business owners (July 12, 2022)
The form will be split into two versions:Â Form I-526, Immigrant Petition by Standalone Investor, andÂ Form I-526E, Immigrant Petition by Regional Center Investor.
Effective July 12, 2022, Forms I-526 and I-526E must be submitted in compliance with new program requirements. The filing fee is $3,675 for each form. Visit the forms pages for additional information about the filing fees and biometric fees, USCIS said.
Form I-526 will be used by standalone immigrant investors who are not seeking to pool their investment with additional investors seeking EB-5 classification, and will closely resemble the prior edition of Form I-526, the immigration agency said.
Form I-526E will be used by immigrant investors who are seeking to pool their investment with one or more additional investors seeking EB-5 classification under the new regional center program.
USCIS saidÂ Form I-526E had been created to reflect elements of the new regional center program, including the ability to incorporate evidence by reference from a regional centerâ€™s Form I-956F.
By statute, a potential immigrant investor cannot file Form I-526E until the regional center has filed Form I-956F for the particular investment offering through an associated commercial enterprise that the potential immigrant investor is investing in.
Once the regional center has received a receipt notice for the Form I-956F confirming its filing, investors may then file their associated Form I-526E based on that receipt notice, USCIS.
Read: USCIS Releases New Forms for Immigrant Investor Program (July 12, 2022)
The number of EB-5 program applications from India has increased dramatically in recent years with students and business owners also going in for it to gain quick access to a green card amid decades long wait faced by Indians in the normal course.
The EB-5 program is especially beneficial for those who want to permanently relocate to America in the hopesÂ of finding work or starting a business.