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February 20 2018

EB-5 Statute Extended; Investors Fight Denial of EB-5 Application

EB-5 Regional Center Statute Extended

With the short-term spending package passing, the EB-5 Regional Center statute has once again been extended to March 23, 2018. For now, the minimum EB-5 investment amount will remain at $500,000 in a TEA. Further extension of the statute is anticipated.

Investors Successfully Fought Denial of their EB-5 Applications

In Chiayu Chang, et al. vs. USCIS, the U.S. District Court for the District of Columbia sided with investors whose I-526 EB-5 petitions that involved a “call option” had been denied by USCIS. The Court held that a “call option,” which gave the New Commercial Enterprise the choice to buy out the investors, was not an improper guarantee and the investors’ capital was at risk as required by the EB-5 rules.