U.S. Citizenship and Immigration Services (USCIS) published a final rule on July 24, 2019 that makes a number of significant changes to the EB-5 Immigrant Investor Program. It’s the first significant revision of the program’s regulations since 1993. The final rule will become effective on Nov. 21, 2019.
Major changes to EB-5 in the final rule include:
- Raising minimum investment amounts: As of the effective date of the final rule, the standard minimum investment level will increase from $1 million to $1.8 million, the first increase since 1990. The rule keeps the 50% minimum investment differential between a TEA and a non-TEA, thereby increasing the minimum investment amount in a TEA from $500,000 to $900,000. The final rule also provides that the minimum investment amounts will automatically adjust for inflation every five years.
- Restriction on the location of projects that qualify for Targeted Employment designations (TEA): The final rule restricts the areas that can be considered targeted employment areas for the minimum investment amount purposes. Many projects, especially those in well-off urban locations, will not qualify for the TEA designation and participation in those projects will require an investment of $1.8MM.
- Investment amount will stay at $500,000 for petitions filed before November 21, 2019: The rule clarifies that all I-526 petitions properly filed before the effective date of November 21, 2019 will be reviewed under the current rules with the minimum investment amount of $500,000.
GreenAccess is working efficiently and expeditiously to use the 108-day window between now and when regulations take effect to sign up new investors, transfer their funds and file I-526 petitions.