THE NEW EB-5 INVESTOR GREEN CARD PROGRAM
By Michael H. Markovitch, Esq on July, 30, 2019
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Increased investment amounts: $500,000 to $900,000 for TEA (Regional Center) investments and $1 million to $1.8 million for non-TEA investments.
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TEA centralization to DHS for geographic area designation.
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Investment amounts to be raised every five years.
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Clarifying USCIS procedures for removal of conditions on permanent residence.
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Allowing EB-5 petitioners to retain original priority dates.
For investments in TEA's the minimum investment amount per investor has increased from $500,000 to $900,000 and for non-TEA investments the amount per investor has increased from $1 million to $1.8 million. The increase was lower than the initial proposed regulation, and will affect the EB-5 green card requirements. The investment amounts, however, will be raised or adjusted every five years to account for inflation, providing "predictability and consistency to stakeholders so they can tailor business plans accordingly, without having to wait for DHS' determination".
The EB-5 visa latest news, shows the regulatory process for the new EB-5 rules has taken two years, and, finally, the Department of Homeland Security appears to have relented and recognized that the TEA investment threshold originally proposed in 2017 – which was $1.35 million – was unreasonable. The new threshold of $900,000 is still nearly double the $500,000 presently required for TEA investments. Many potential investors face either moving forward now or else they may not be able gather funds for the higher investment amount.
As previously predicted, the designation of TEA's will be centralized to the DHS and will become the responsibility of USCIS to designate certain geographic areas to be eligible for the lower investment threshold. Currently, and until the Final Rule goes into effect on November 21, individual states determine these targeted employment areas.
The Final Rule will be effective on November 21, 2019, 120 days from the date of publication in the Federal Register giving investors an opportunity to file under current EB-5 regulations and investment amounts. Investors filing for I-526 petitions on or before the effective date will be grandfathered under the current rules and lower investment amounts of $500,000 for TEA projects. The Final Rule will affect all EB-5conditional visa and green card requirements
For further information or questions you may have, or for filing for the EB-5 green card please do not hesitate to contact The Law Offices of Michael H. Markovitch.
