The conditions of the EB-5 immigration program have changed in the USA

In the US, the conditions of the EB-5 immigration program have changed, Second Wind reports.

The EB-5 program is a government investment program that allows foreign investors and their family members to obtain a residence permit (green card) through an investment of $800,000 or more in commercial projects in the United States.

On March 10, 2022, the national budget document was approved by the US Senate and will soon be signed by President Biden. The document also includes a package of bills, including a bill to reform the EB-5 Program and relaunch the Regional Centers (RC) Program. All innovations take effect from the day the document is signed.

Key innovations for future investors in the EB-5 Program:

The new minimum investment amounts for the EB-5 Program and the RC Program are $800,000 for projects in the Targeted Employment Areas (TEA) and industrial projects, and $1,050 million for everyone else.

The investment amount is indexed after 5 years.

The Regional Centers program resumes its work 60 days after the signing of the bill and will be valid for the next 5 years, until September 30, 2027;

The United States Citizenship and Immigration Services (USCIS) has been tasked with reviewing and calculating new petition fees within a year that will reduce the processing time for I-526 petitions to 120 days for TEM projects and 240 days for others.

Each year, 20% of the total number of EB-5 visas will be reserved for projects in rural areas, 10% for high unemployment areas and 2% for industrial projects for priority consideration.

News for Current EB-5 Investors:

I-526 petitions filed before March 11, 2022 will not be subject to the new rules and higher investment amounts;

Processing of I-526 petitions, visa processing, and status adjustment applications will resume as soon as the bill enters into force.
Key changes for EB-5 Regional Centers and other organizations:

The requirements for the Regional Centers in relation to securities, accounting, ownership and asset management are being tightened. All Regional Centers will be audited by USCIS at least once every 5 years.

EB-5 Promoters and Advisers must register with USCIS.