Updated Time 13 May, 2022, 14:54 (UTC+08:00)
On 16 March 2022, President Joe Biden signed legislation that reauthorizes the new EB-5 Regional Center Program, taking effect through 30 September 2027 after the Congress passed the EB-5 Reform and Integrity Act 2022.
The Program being extended to 5.5 years frees investors waiting in limbo like before when it was unfortunately lapsed. The EB-5 Reform and Integrity Act 2022 is attached to the $1.5 trillion Omnibus Spending Package and includes significant changes related to investment threshold, policies and processing time. These updates will ensure the Program to run smoothly with investors’ full benefits guaranteed, taking effect 60 days from the day of enactment.
With the EB-5 projects located in TEA (Targeted Employment Area), rural areas or any locations with high unemployment rate, the new investment threshold is $800,000. Another possible option is the government EB-5 project, but must be double checked by The Department of Homeland Security (DHS) before approval. For the standard, the threshold is $1.05 million.
Note: the amount will be adjusted for inflation every 5 years.
USCIS will monitor regional centers to ensure full compliance with the new Act from the beginning:
TEAs follow new rules:
Applications including (1) submitted I-526 and (2) pending I-526 and I-829 will be resumed upon enactment of the new Act without being subject to new rules and higher investment threshold.
In the case the Program is lapsed or ends again, Grandfathering provisions require USCIS to continue processing the EB-5 applications filed prior to 30 September 2026. Therefore, investors already completing this step before the above time can be worry-free in any circumstance. For the applications submitted after this time, investors may ask for further guidance from the legislature to prevent risks of visas not being approved.
About 20% will be reserved for investments in the rural areas and have USCIS’s processing priority. 10% will be spent on TEAs with high unemployment rate and 2% for infrastructure projects administered by federal, state or local government entities. Unused visas will be added to the next fiscal year’s quota, but not accumulated for more than 3 years.
Stricter regulations give investors more peace of mind but push costs higher. Besides the administration costs and other related fees, an additional $1,000 along with the I-526 petition is required to allocate to the EB-5 Integrity Fund as support to USCIS’s monitoring and enforcement. This limits the scope of available options that regional centers can provide; however, transparency is guaranteed with the money being properly used to offer investors an expedited path to permanent residency.
EB-5 Immigrant Investor Visa Program is preferred by many foreign investors who seek to legally work and live in the U.S. Their families, including spouses and unmarried children under 21 years old will be qualified for Green Card issuance and receive full benefits of permanent residents once being approved. To get an EB-5 visa, investors must deposit a minimum amount of $800,000 if investing in TEAs and $1.5 million if choosing other locations. Processing time lasts about 24 months.
Global Immigration Services Group (GIS) is an Immigration Services Provider focusing on Second Citizenship by investment programs & Residency Programs.
We offer a variety of Second Passport options including but not limited to; Caribbean Citizenships such as Saint Kitts & Nevis, Grenada and Dominica. European Second Citizenship by investment programs inclusive of Cyprus and Malta. As well as other Residency Programs such as Portugal and Greece...
Our selection of established and well-respected Developers, excellent Government Relations and Caribbean Contacts makes us the obvious choice for all your Citizen & Residency needs.