Skip to main content

Immigration Policy Tracking Project

Open main menu

USCIS makes significant changes to EB-5 immigrant investor program

  1. Original Date Announced

    July 24, 2019

    USCIS final rule makes changes to the EB-5 immigrant investor program, including increasing the standard investment threshold to $1.8 million (from $1 million) and the minimum Targeted Employment Area (TEA) investment to $900,000 (from $500,000). The new rule, signed by Acting Secretary McAleenan, will also grant USCIS the authority to designate high unemployment TEAs, eliminating state involvement, and restrict a TEA to the immediate area around an EB-5 project.

    [ID #544]

    EB-5 Immigrant Investment Program Modernization Final Rule

  2. Effective Date

    November 21, 2019

  3. Subsequent Trump and Court Action(s)

    • November 10, 2020

      Updates on EB-5 Immigrant Investor Program

      USCIS provided a video of an online presentation with updates to the EB-5 immigrant investor program and responses to recently submitted questions. You can find the video here.

      View Document
    • June 22, 2021

      2021.06.22 Behring Regional Ctr. v. Wolf - Order Granting Plaintiffs Motion for Summary Judgment

      On June 22, 2021, a magistrate judge for the U.S. District Court for the Northern District of California vacated the Final Rule and remanded the matter to the Agency for further action. The vacatur is nationwide in scope and effective immediately. Magistrate Judge Corley granted summary judgment for the plaintiffs, ruling that Acting Secretary McAleenan's promulgation of the Final Rule was defective as he was not properly serving in his position at the time and that Secretary Mayorkas's ratification of the rule did not cure its defects.

      **Litigation is listed for informational purposes and is not comprehensive. For the current status of legal challenges, check other sources.**

      View Document

    • Florida EB5 Investments, LLC v. Wolf et al Memorandum Opinion

      District Court denies preliminary injunction in suit by regional immigrant investor center in Florida to temporarily block the final regulation overhauling the EB-5 program.

      **Litigation is listed for informational purposes and is not comprehensive. For the current status of legal challenges, check other sources.**

      View Document
  4.  

  5. Biden Administration Action

    March 31, 2021

    Ratification Notice

    DHS Secretary Mayorkas notifies the court in Behring Regional Center v. Wolf of the Biden Administration's ratification of the July 24, 2019 final rule.

    View Document

  6. Biden Administration Action: Expired

    July 1, 2021

    USCIS Alert About the EB-5 Visa Classification

    This Biden administration action announces agency action in light of the expiration of statutory authorization for the program identified in this entry.

    Statutory authorization related to the EB-5 Immigrant Investor Regional Center Program expired at midnight on June 30, 2021. USCIS announced that it will reject all Forms I-924 and I-526 as well as Forms I-485 filed based on an approved I-526 until further notice. USCIS generally will not act on pending petitions affected by the lapse in statutory authority.

    View Document

  7. Biden Administration Action: Revoked/Replaced

    July 15, 2021

    2021.07.15 Volume 6, Part G, Chapters 1-5

    This Biden administration modifies USCIS policy in response to a court action enjoining the Trump era policy identified in this entry.

    On July 15, 2021, USCIS updated their policy manual to reflect that the District Court for the Northern District of California, in Behring Regional Center LLC v. Wolf, vacated the November 25, 2019 rule changing EB-5 eligibility. Changes were made to Volume 6, Part G, Chapters 1-5.

    View Document

  8. Biden Administration Action

    July 30, 2021

    2021.07.30 Ratification of Department Actions

    This Biden administration policy ratifies the Trump-era policy identified in this entry.


    On July 30, 2021, DHS issued a notice in the Federal Register confirming Secretary Mayorkas's March 31, 2021 ratification of the Trump-era policy.

    View Document

  9. Biden Administration Action: Revoked/Replaced

    March 15, 2022

    2022.03.15 EB-5 Reform and Integrity Act of 2022

    Congress passed the EB-5 Reform and Integrity Act of 2022 as part of the Consolidated Appropriations Act and it became public law after President Biden signed it on March 15, 2022. Among several reforms to the EB-5 immigrant investor program, the Act set the standard minimum investment to $1,050,000 and the minimum Targeted Employment Area (TEA) investment to $800,000. The amounts will increase every five years with cumulative inflation (in line with a consumer price index) beginning on January 1, 2027. These new thresholds override and replace the higher thresholds set by the Trump administration, as identified in this entry.

    View Document

  10. Biden Administration Action: Revoked/Replaced

    July 16, 2024

    USCIS Policy Alert: EB-5 Regional Center Noncompliance and Sanctions

    On July 16, 2024, USCIS issued a policy alert (PA-2024-20) updating the USCIS Policy Manual to address new provisions added to the Immigration and Nationality Act (INA) by the EB-5 Reform and Integrity Act of 2022 (RIA).

    View Document

Current Status

Not in effect

Most Recent Action

July 16, 2024 Action: Revoked/Replaced USCIS Policy Alert: EB-5 Regional Center Noncompliance and Sanctions
March 31, 2021
Acted on by Biden Administration
July 1, 2021
Acted on by Other
July 15, 2021
Acted on by Biden Administration
July 30, 2021
Acted on by Biden Administration
March 15, 2022
Acted on by Other
July 16, 2024
Acted on by Biden Administration

Original Trump Policy Status

Status: Final/Actual In Litigation Replaced
Trump Administration Action: Rule
Subject Matter: Immigrant Visas: Employment-Based
Agencies Affected: USCIS DHS

Pre Trump-Era Policies

  • February 22, 2019

    The Obama administration published a proposed rule to revise the immigrant investor program roughly a week before President Donald Trump took office in January 2017. The previous EB-5 program allowed foreigners who invest $1 million in a U.S. commercial project that will create or preserve at least ten jobs to apply for a green card. The investment threshold dropped to $500,000 if the project took place in a high-unemployment or rural area. States decided whether a geographic area qualified for the lower investment threshold.

    About the EB-5 Visa Classification

Commentary

  • Immigration Leaders Sound Alarm About Possible Demise Of The U.S. EB5 Investor Immigration Program

    Go to article

Documents

Trump-Era Policy Documents
Biden Administration Policy Documents

To provide information, corrections, or feedback, please email IPTP.feedback@gmail.com

To provide information, corrections, or feedback, please email IPTP.feedback@gmail.com

© 2025 Immigration Policy Tracking Project