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On June 22, 2021, the U.S. District Court for the Northern District of California, in Behring Regional Center LLC v. Wolf, vacated the EB-5 Immigrant Investor Program Modernization Final Rule. The U.S. Citizenship and Immigration Services (USCIS)announced that while it considers this decision, it will apply the EB-5 regulations that were in effect before the rule was finalized on Nov. 21, 2019, including:

  • No priority date retention based on an approved Form I-526;

  • The required standard minimum investment amount of $1 million and the minimum investment amount for investment in a Targeted Employment Area (TEA) of $500,000;

  • Permitting state designations of high unemployment TEAs; and

  • Prior USCIS procedures for the removal of conditions on permanent residence.

On June 30, 2021, the EB-5 Regional Center Program expired, after Congress failed to reach an agreement on reauthorization. As a result, USCIS will not accept new I-526 petitions by regional center-sponsored investors and will not accept any I-924 filings from regional centers (for regional center designation or amendment or for exemplar approval of projects). However, USCIS will accept adjustment of status applications (Form I-485) by such investors and families in the U.S. based on an approved I-526 petition.

However, please note that Congress is currently in discussions to restore the EB-5 Program. We will continue to monitor this situation and will keep you posted on any updates.

Please also note, investors in "direct EB-5 projects" may continue to file I-526 petitions (and for investments as low as $500,000 under a court injunction of new regulations), and USCIS may approve them. The expiration of legislation will not prevent filing or adjudication of I-829 petitions by investors, even sponsored by regional centers. Contact one of our attorneys to assist you with your EB-5 application.

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