URGENT UPDATE: Substantial changes to the EB-5 program are imminent, which will likely include a dramatic increase to the minimum investment.
The U.S. Office of Management and Budget (OMB) completed its review of the United States Citizenship and Immigration Services (USCIS) proposed regulations to update and “modernize” the EB-5 program. USCIS first published its proposed EB-5 Modernization Regulation in January 2017. On February 22, 2019, USCIS submitted the EB-5 Modernization Regulation to OMB for review.
On June 27, 2019, OMB finalized its review of the proposed regulation and made various substantive changes (https://www.reginfo.gov/public/do/eoDetails?rrid=128858). We don’t know exactly what these changes are – but almost everyone agrees that it is highly likely to include an increase up to $1.3 million for TEA investments (from the current $500,000 level), as well as many other technical changes involving the way projects are qualified to participate in the regional center program.
After the Federal Register publishes the new regulation, there will likely be at least a 30 day grace period before the new regulation takes effect.
What this means for you and your family:
If you are considering the EB-5 program, now is the time to act! You still have time to qualify under the current $500,000 investment level and current rules.
Given the urgent and imminent nature of these changes, in an effort to help as many families utilise the existing rules and possible, our professionals are standing by to consult with the clients and assist them navigate the process in as short time as possible.
Please reach out to our team to discuss your situation.