On June 27, 2018, the Office of Management and Budget announced that it has concluded its review of the EB-5 Immigrant Investor Program Modernization Rule and changes will be coming soon to the EB-5 Program.
The New Rules (as proposed), would significantly raise minimum investment amounts (rumored to go from $500,000 to $1,350,000 an increase of minimum investment needed by $850,000) and change the definition of which geographical locations qualify for “Targeted Employment Area” designations.
This would make it increasingly more difficult to gain a United States Visa through the EB-5 immigrant investor program.
These changes are not certain as the OMB has yet to officially announce the increases in minimum investment or changing of demographic areas, but these are the proposed and anticipated changes upon speculation.
If these changes are correct, there will be a 30-60 day window to get your EB-5 petition in before the changes and increases meaning now is the time to get your EB-5.
EB-5 Change Items To Note
- USCIS received hundreds of comments from industry stakeholders, most of which were in opposition to the terms of the Proposed Rules. USCIS may have taken these comments into consideration and adjusted the proposal accordingly but we are unsure.
- We expect it to be printed in the Federal Register at any moment in early July. But according to the government, “When an agency publishes a final rule, generally the rule is effective no less than thirty days after the date of publication in the Federal Register.” Some immigration regulations especially overhauling visas have taken significantly longer to go into effect.
- Many industry professionals assume there will be a lag time where USCIS will accept filings based on the current EB-5 rules prior to the potential investment amount increases going into effect. This may also cause a surge in demand as investors seek to gain their EB-5 under the current or better terms. Rahbaran Law stands ready to help investors before these new changes arise to save you money.