Significant Changes To The EB-5 Immigrant Investor Program Official As Of November 21, 2019
The final rule proposed an increase in the minimum investment threshold from $1,000,000 to $1,800,000. This is the first and only increase the EB-5 Immigrant Investor Program has had since its conception in 1990, and it is important to point out that the final rule establishes the need for this increase only to account for inflation from the date of the program’s creation and up to 2015. Consequently, the final rule establishes that the minimum investment amount will be revised and increased every five years to account for inflation.
In addition, the final rule will respect the 50% minimum investment differential when the EB-5 investment is deployed in a TEA, increasing the reduced threshold from $500,000 to $900,000, stating that this amount will also automatically adjust for inflation every five years.
On the second point of revisions, the final rule establishes a reform of the current TEA designation. A TEA is defined by statute as a rural area or an area that has experienced high unemployment (of at least 150 percent of the national average rate). Currently, TEA designations are achieved by combining contiguous census tracts to benefit areas with high unemployment rates, regardless if they are located in metropolitan or non-metropolitan areas. Under the new regulation, TEA’s will be achieved only in non-metropolitan areas, considering only adjacent census tracts of where the project is located.
Most importantly, under the new regulation, the Department of Homeland Security (DHS) eliminates the State’s ability to designate TEA’s, and the only entity that will designate these areas will be the aforementioned DHS.
You can view all the changes and announcements by the USCIS here.
When Will These Changes Take Effect?
The effective date for the final rule is November 21st, 2019.
If you or someone you know is interested in immigrating to the United States, now is not too late and the US is still accepting applications under the new rules. Rahbaran Law can help you obtain your EB-5 visa quickly with a record of 100% approval rate – contact us here to get started.
This year is the first year since 1993 that any significant changes have happened to the EB-5 program. The 4 biggest changes to the program instated by the USCIS are as follows:
- Raising minimum investment amounts – From $1 million to $1.8 million and $500,000 to $900,000
- TEA designation reforms
- Clarifying USCIS procedures for removing conditions on permanent residence
- Allowing EB-5 petitioners to keep their priority date
These changes make the EB-5 investor visa took effect on November 21st, 2019.
If you would like to invest and gain your green card through an EB-5 visa, we highly recommended getting started today.