With estimated delays of five to six years for the processing of EB-5 immigrant visas or green cards for applicants subject to the quota for China, many parents are concerned their children will “age out” by reaching the age of 21 before their final green card interviews are scheduled. As a result, the children may be ineligible to immigrate as derivative beneficiaries and may be unable to join their parents and younger siblings when immigrating. Since many Chinese parents are primarily motivated to obtain green cards under the EB-5 program for the benefit of their children, these parents are requesting EB-5 investment funds to accept their minor children as investors so that the child can file the I-526 as the principal applicant.
In NES Financial’s recently released eBook, Navigating a Changing EB-5 Sector: Insights from Experts, Catherine DeBono Holmes of Medallion Partner Jeffer Mangels Butler & Mitchell looks at the age out problem discussed above and some ways in which it can be handled during the EB-5 process.
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