On June 27, 2019, the Office of Management and Budget (OMB) completed its review of the regulation entitled “EB-5 Immigrant Investor Program Modernization” (“EB-5 Modernization Rule”). This Rule changes the EB-5 Program in critical ways, including significantly increasing investment amounts to as high as 1.8 million. Now that OMB has completed its review, the next and final step for this regulation to become effective is that it must be published in the Federal Register.
USCIS will make an announcement when the Final Rule is published in the Federal Register. It is unclear when the final rule will be published, but some experts predict it can happen very soon.
Once published in the Federal Register, a final regulation generally becomes effective no less than thirty days after the date of publication, though a federal agency may allow for a longer time frame (e.g., 60 days) before a final regulation becomes effective. The future direction of the EB-5 program will depend on the changes included in the final rule.
Individuals seriously interested in investing in the EB-5 Program should not delay and should file their EB-5 petitions as soon as possible, to take advantage of the EB-5 Program at current investment rates. Contact Williams Global Law for more information.