Scott Bettridge, a member of Cozen O'Connor's Immigration practice, discusses how the U.S. investment visa might increase in cost in Barrons. The U.S. Department of Homeland Security (DHS) is proposing to hike the minimum investment amount required to apply for the popular EB-5 investment visa to $1.35 million from $500,000. Immigration lawyers support the proposed changes, the first to EB-5 since the early 1990s. “It’s ripe for change, it needs to be changed,” says Scott. The way targeted employment areas are designated now “has led to individuals filing applications which were not the intent of the program,” he says. The required investment amounts should rise too, Scott says, although he believes the DHS went too far with its proposed hikes and suspects the thresholds will come down after the public comment period ends April 11.
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