On May 4, 2016, the Department of Homeland Security (DHS) proposed an increase to many of the EB-5 Program's fees charged by U.S. Citizenship and Immigration Services (USCIS) including a large increase to the EB-5 Regional Center Form I-924.
The proposal increases the EB-5 Regional Center Form I-924 from $6,230 to $17,795. Form I-924 is the Application For Regional Center Under the Immigrant Investor Pilot Program and it's used to request designation or it's used to request approval of an amendment to a previously designated regional center.
In addition, a new fee for already existing and designated regional centers may be implemented. This will be an annual Form I-924A and it would cost $3,035.The other proposed fee increase is to the Form I-526 and would increase from $1,500 to $3,675. The Form I-526 is the Immigrant Petition by Alien Entrepreneur and is used by foreign investors who wish to immigrate and attain a visa to live in the United States.There is no proposed change to the fee for the Form I-829. It will remain $3,750.Why are the fees increasing?USCIS conducted an extensive review of the costs per services provided and determined that the fees do not adequately cover the costs of the services. The proposed increases would recover the costs of the services.Will the proposed changes go through?There is a comment period that lasts until 7/5/2016. This means that the public has about a 2 month window to voice their opinions before the changes go into effect.What do these increases mean if they go through?The Form I-526 more than doubles in fees and the Form I-924 nearly triples in fees. With the added fees of Form I-924A, it's becoming much more expensive to create and maintain a regional center.If you are considering filing EB-5 Regional Center Form I-924, save money by filing right away to avoid paying triple in fees. Or if you need to file an amendment for your regional center, again save the risk of having to pay more in fees and file right away.For more information about the proposed fee schedule increase, click here. 