EB-5 Immigrant Investor Program Modernization Published in Federal Register

Thursday, July 25, 2019

The EB-5 Immigrant Investor Program Modernization Regulation (RIN 1615-AC07) is published on July 24, 2019 in the Federal Register. This final rule is in effective on November 21, 2019, 120 days from the date of publishing in Federal Register.

This final rule has increased standard minimum investment amounts from $1,000,000 to $1,800,000, and from $500,000 to $900,000 in a Targeted Employment Area (TEA). Meanwhile, TEA’s designation is subject to redefined rules, the TEA definition of a rural area remains unchanged. However, the specially designated high unemployment area may be designated by USCIS, not by the states as now. In addition, the final rule also provides priority date retention; clarifies USCIS procedures for the removal of conditions on permanent residence; as well as some miscellaneous changes.

This new rule is going to take effect in 120 days, unless there is litigation against USCIS regarding the regulation, or there is a new law overrule the regulation. To understand the rule in detail, please read entire document of the Regulation at https://www.govinfo.gov/content/pkg/FR-2019-07-24/pdf/2019-15000.pdf

Reference:
EB-5 Immigrant Investor Program Modernization, 84 Fed. Reg. 142 (July 24, 2019). Federal Register