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EB5 INVESTMENTS INCREASED TO USD 900,000 AND USD 1.8 MILLION STARTING 21 NOVEMBER 2019
U.S.Citizen and Immigration Services (USCIS) has published the final rule containing new EB-5 regulations on 24th July in the Federal Register. The new rule will be effective from 21 November 2019.
The final rule will implement increase in the investment amounts from $500,000 and $1,000,000 TO $900,000 and $1,800,000 respectively.
This gives an applicant time before the regulations come into effect. The program may be reauthorized with new and positive reforms making the new regulations in regard to the reauthorization statute. This is the first significant revision to the EB-5 program's regulations since 1993.
Prospective applicants looking at applying for Green card to USA through investment category for their family members and children below 21 years still have an opportunity to lodge under the old investment amount USD 500,000 before 21st November to obtain their Green card Permanent Residence visa.
The final rule is publicly available in this link: https://s3.amazonaws.com/public-inspection.federalregister.gov/2019-15000.pdf
Also, other major program changes included are the centralization of Targeted Employment Area’s (TEA) in the Department of Homeland Security (DHS) and also to clarifies the procedures for removing conditions on permanent residence.
THE NEW EB-5 PROGRAM CHANGES UNDER THE FINAL RULE INCLUDE:
- The final rule will implement increase in the investment amounts. The investment amounts increased from USD 500,000 to USD 900,000 for Targeted Employment Area (TEA) investments and USD 1 million to USD 1.8 million for non-TEA investments.
- Targeted Employment Area (TEA) centralization to DEPARTMENT OF HOMELAND SECURITY (DHS) for geographic area designation.
- Investment amounts raised every five years.
- Clarifying U.S. Citizen and Immigration Services (USCIS) procedures for removal of conditions on permanent residence.
- Allowing EB-5 petitioners to retain original priority dates.
For applicants investing in Targeted Employment Area’s (TEA) 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 EB5 program investment amounts, however, will be raised or adjusted every five years, providing certainty and reliability to stakeholders so that business plans can be modified accordingly, without having to wait for Department of Homeland Security (DHS) determination.
The regulatory procedure for the new EB-5 rules has taken two years, and, finally, the Department of Homeland Security looks to have conceded and documented that the TEA investment threshold originally proposed in 2017 which was $1.35 million was unreasonable.
The new threshold of $900,000 is still closely double the $500,000 currently required for TEA investments.
Many prospective investor applicants may either proceed now or may not take this further due to gathering higher investment amount.
Therefore, the final rule will come into effect from 21 November 2019, from the date of publication in the Federal Register giving applicants / 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 exempt from the new law or regulation. under the current rules and lower investment amounts of $500,000 for TEA projects.
You can get in touch with us to guide you and recommend the right project which has an Exemplar approval from USCIS towards lodging your application for a successful outcome before 21st November 2019.
Also, an important factor under the final rule is that the new rule will allow EB-5 petitioners to use the priority date of a previously approved EB-5 petition. If and when an investor needs to file a new EB-5 petition they can now retain the priority date of the previously approved petition, subject to certain exceptions.
Still the date for the EB-5 program is set for 30th September despite the final rule going into effect from 21st November. The program may cease to exist after 30th September if Congress does not renew or consider change in program.
There is still an opportunity for legislation to get passed through Congress to override the final rule, however, based on past trends the business does not have a lot of sureness in legislation being approved.
Bilimoria & Associate is specialised in Immigration visas with 24 YEARS experience. Bilimoria & Associate has experience in lodging successful EB-5 application towards obtaining Green card to USA. We have projects that have an exemplar approval from USCIS.
Our expertise has undertaken over a billion dollars in projects, and have raised more than $300 Million in EB-5 investment and have completed almost 38 different projects in the last 10 years and have processed many EB-5 investor applications with 100% success rate.
Bilimoria & Associate liaisons with the Member of Oregon State Bar Association and Attorney in good standing, USA (OSB) and also liaisons with member of the American Immigration Lawyers Association (AILA) towards preparation of a successful application for EB-5 visa. Please contact us to learn more about the current EB-5 projects and towards lodgment of your Green card and Permanent Residency to the USA!!
You can write to us to assess your eligibility at: neville@bilimoriaassociate.com (or) contact us +91 44 2822 7222 / 2823 9229 / 4350 8191 between Monday – Saturday, 10.30 am to 5.30 pm. You can also fix an appointment with our office to meet us in person to discuss your eligibility.