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Original Date Announced
July 24, 2019USCIS 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 RuleEffective Date
November 21, 2019Subsequent Trump-Era and Court Action(s)
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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.
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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.**
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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.
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**Litigation is listed for informational purposes and is not comprehensive. For the current status of legal challenges, check other sources.**
Biden Administration Action
March 31, 2021Ratification 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 DocumentBiden Administration Action: Expired
July 1, 2021USCIS 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 DocumentBiden Administration Action: Revoked/Replaced
July 15, 20212021.07.15 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 DocumentBiden Administration Action
July 30, 20212021.07.30 Ratification of Department Actions
This Biden administration policy ratifies the Trump-era policy identified in this entry.
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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.Biden Administration Action: Revoked/Replaced
March 15, 20222022.03.15 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 DocumentCurrent Status
Not in effectMost Recent Action
March 15, 2022 Action: Revoked/Replaced 2022.03.15 EB-5 Reform and Integrity Act of 2022March 31, 2021Acted on by Biden Administration
July 1, 2021Acted on by Other
July 15, 2021Acted on by Biden Administration
July 30, 2021Acted on by Biden Administration
March 15, 2022Acted on by Biden Administration
Original Trump Policy Status
Status: Final/Actual In Litigation ReplacedTrump Administration Action: RuleSubject Matter: Immigrant Visas: Employment-BasedPre Trump-Era Policies
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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
Documents
Trump-Era Policy Documents
Biden Administration Policy Documents
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Biden Administration Action
Original Source:
Ratification Notice
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Biden Administration Action
Original Source:
About the EB-5 Visa Classification - Alert
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Biden Administration Action
Original Source:
USCIS Policy Manuel Volume 6, Part G, Chapters 1-5.
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Biden Administration Action
Original Source:
Ratification of Department Actions
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Biden Administration Action
Original Source:
EB-5 Reform and Integrity Act of 2022
Commentary
Immigration Leaders Sound Alarm About Possible Demise Of The U.S. EB5 Investor Immigration Program
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