On July 23, 2019, USCIS announced the publishing of a final rule that would make several substantial changes to the EB-5 Immigrant Investor Program. Becoming effective on November 21 of this year, this announcement marks the first major revision to the program since 1993.
Some of the most notable changes coming this November will include increased minimum investment amounts and new targeted employment area (TEA) rules. Instead of a minimum investment amount of $500,000, the amount will increase to $900,000 in an approved TEA. Additionally, invested amounts in non-TEA will increase from $1 million to $1.8 million. The new regulations also include that every five years the minimum investment amounts will adjust for inflation.
Critical revisions were also made to TEA designations. The Department of Homeland Security (DHS) will be eliminating a state’s ability to label certain geographic and political areas as high-unemployment. Now, DHS will make TEA designations directly based on the revised requirements in the new regulations in an attempt to eliminate gerrymandering and provide consistency to areas delegated for EB-5 investment.
See: USCIS: New Rulemaking Brings Significant Changes to EB-5 Program for more info.
Learn more about the application and eligibility requirements for an EB-5 visa or contact us for assistance.