Update: EB-5 Immigrant Investor Program

Significant changes to the EB-5 Immigrant Investor Program were made recently and published in the Federal Register on July 24, 2019.ย  This is the first major revision of the programโ€™s regulations since 1993 and the final rule will go into effect on November 21, 2019.
New developments under the final rule below include:
  • Raising the minimum investment amounts
    • $900,000 (up from $500,000) for Targeted Employment Area (TEA) projects
    • $1,800,000 (increased from $1million) for non-TEA
    • These amounts will adjust for inflation every five years.
  • Revising the standards for certain targeted employment area (TEA) designations
    • Department of Homeland Security (DHS) will now make designations of TEAs geographic and political subdivisions as high unemployment areas rather than each state.
    • This is due to prior deliberate manipulation of boundaries of an electoral district by combining multiple census tracts to link to a successful project location to an underachieving community in order to attain the qualifying average unemployment rate.
    • DHS will ensure that TEA designations will be done fairly and consistently to follow closer to congressional intent to invest in areas most in need.
  • Clarifying USCIS procedures for the removal of conditions on permanent residence
    • If not included in the principal investorโ€™s petition to remove conditions on their permanent residence, derivative family members must file their own petition to remove conditions.
    • The new ruling improves the process for removing conditions by offering more flexibility in interview locations and conforms to the current process for issuing permanent resident cards.
  • Allowing EB-5 petitioners to retain their priority date under certain circumstances
    • If an immigrant investor has a previously approved EB-5 petition, generally they will now be able to keep the priority date of that previously petition (subject to certain exemptions).

Leave a Reply

Close Menu