New EB5 Visa regulations to take effect on November 21, 2019

The Department of Homeland Security’s (“DHS”) EB-5 Modernization Regulations were published on the Federal Register’s website, indicating the first significant changes in the EB-5 Investor Visa Program since 1993.

The new regulations state the effective date for these changes is November 21, 2019. The regulations clarify that anyone filing their I-526 petition prior to November 21st 2019 will be adjudicated under the current rules of the EB5 program. With many technical changes in the new regulations, there are a couple major noteworthy changes:

· An increase of the minimum investment amounts
· New TEA rules (the USCIS will now be responsible for approving)

The minimum investment amount will increase significantly from $500,000 to $900,000 in a qualified targeted employment area (“TEA”). Investment amounts in a non-TEA increase from $1 million to $1.8 million
The regulations also include provisions that the investment amounts will be adjusted every five years based on inflation.

DHS will make TEA designations directly now (taking them away from the individual States).

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