Update on B-5 Investor Visa Application Process for U.S. Citizens

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At a Glance

The Israeli Ministry of Interior has opened the application period for and published further guidance on the B-5 Investors Visa for U.S. citizens.  Key points of the guidance include:

• Eligible U.S. citizens can apply at any of four Israeli consulates in the United States;
• The application process involves a personal interview; and
• Children under 21 qualify for dependent status, up from children under 18, as was previously published.
   

Fragomen expects further guidance on eligibility criteria and estimated government processing times to be published in the coming months.

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The situation

As an update, the Israeli Ministry of Interior has published further guidance on the application process for U.S. citizens seeking a B-5 Investors Visa to Israel.

• Consular application process. Eligible U.S. citizens can apply at four Israeli consulates in the United States: Washington, New York, Houston and San Francisco. The application process involves a personal interview.
  • Documents required. Applicants must submit extensive documents on the investment, the applicant’s role in the investment and a detailed business plan. The Ministry has not yet published more detailed guidance on the nature, scope and requisite detail of supporting documents.  
• Government processing in Israel. The consulate will forward complete application packages to an inter-ministerial Israeli committee that will issue a recommendation on the application to the Minister of Interior, who will make the final decision on the application.
  • Processing times not yet confirmed. The current update does not yet specify estimated government processing times for each process step. Fragomen expects that initial applications may require considerable processing time during a transitional phase.
• Dependents. The guidance indicates that children under 21 qualify for dependent status, up from children under 18, as was previously published.

• Eligible applicants. As a reminder, previously-reported information on eligible applicants, investment requirements and visa validity remain unchanged.

 

Impact

Eligible U.S. citizens can now file B-5 Investors Visa applications based on the updated guidance.

Looking ahead

Fragomen expects further guidance on eligibility criteria and estimated government processing times to be published in the coming months. It is expected that many Israeli and U.S. citizens and businesses will attempt to avail themselves of the new temporary investor visa, as it is likely to benefit a large variety of business interests, including technology startups, consultants, restaurateurs, diamond merchants, real estate managers and private investors in the United States. Fragomen can work with prospective applicants from both countries to determine B-5 and E-2 eligibility.

Fragomen worked closely with Kan-Tor & Acco Law Firm to prepare this alert. This alert is for informational purposes only. If you have any questions, please contact the global immigration professional with whom you work at Fragomen or send an email to [email protected].