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63 Days Left until EB-5 Final Rule is Effective! Raises Minimum Investment Amount to $900,000!

USCIS will publish its final rule on November 21, 2019, which will significantly revise the EB-5 Immigrant Investor Program. Major changes to EB-5 in the final rule include raising the standard minimum investment level from $500,000 to $900,000 in TEA areas and from $1 million to $1.8 million in non-TEA areas.

Other developments under the final rule include:

  • Raising the minimum investment amounts;

  • Revising the standards for certain targeted employment area (TEA) designations;

  • Giving the agency responsibility for directly managing TEA designations;

  • Clarifying USCIS procedures for the removal of conditions on permanent residence; and

  • Allowing EB-5 petitioners to retain their priority date under certain circumstances.

Under the EB-5 program, individuals are eligible to apply for conditional lawful permanent residence in the United States if they make the necessary investment in a commercial enterprise in the United States and create or, in certain circumstances, preserve 10 permanent full-time jobs for qualified U.S. workers.

As this rule will go into effect on November 21st, those interested in taking advantage of the EB-5 Program, at its current rate and procedures, must file before this date! We know we have been reporting this for a while, but this is a done deal! If interested, please contact Williams Global Law as soon as possible.

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