Latest EB-5 News
EB-5 Investment Amount Increase?
Last week, the U.S. Office of Management and Budget (“OMB”) cleared USCIS regulations for publication to 1) increase the EB-5 investment amount from the current minimum of $500,000, and 2) change the Targeted Unemployment Area (“TEA”) rules. One immigration blogger predicts the new rule will be published within two weeks.
If the new rules are issued, it is hoped they will not take effect for 30 to 45 days.
Today, people can still invest $500,000 for EB-5 immigration.
The change in the EB-5 rules may also take away the states’ authority to designate TEAs and give them to USCIS, and USCIS may impose restrictive rules on how TEAs are determined. TEAs determine the investment amount in a local area. Today, one can still use the old TEA rules, which state that a TEA is locked in at the time of investment or filing of the EB-5 I-526 petition, whichever is sooner.
I will write more about the new rules, if and/or when they are published. We will keep you appraised of any developments.
Have a wonderful and safe Fourth of July holiday.