Guam – More than a year after CNMI immigration came under federal control, the U.S. Department of Homeland Security finally issued the final E-2 CNMI-only investor rule.
The new investor regulation allows, among other things, eligible foreign long-term investors with a minimum of $50,000 instead of $150,000 in investments to remain in the CNMI through Dec. 31, 2014.
The E2 CNMI investor visa is valid for two years, is renewable, and allows investor’s spouse and children to apply as dependents of the investor.
By the end of the federalization transition period on Dec. 31, 2014, these investors are required to obtain another U.S. immigrant or nonimmigrant visa classification.
David Gulick, district director of USCIS Honolulu District 26, said the reduction in investment for eligibility to apply for an investor status is the “major change” in the proposed rule.
If not for this change, most of the estimated 500 long-term foreign investors in the CNMI would not qualify to apply for E-2 CNMI investor visa status because their minimum investments do not meet the $150,000 proposed threshold.