Friday, November 8, 2024

EB-5 modernization changes is one step closer

USCIS has finalized and submitted final rule to the Office of Management and Budget (OMB) on Feb 22, 2019 bringing the modernization of EB-5 immigrant investor program to one step closer.

 

The modernization overhaul of EB-5 set to increase minimum investment amounts and funnel more money into rural areas.

 

The new changes would increase the minimum

  • EB-5 investment to $1.8 million (from $1 million)
  • Targeted Employment Area (TEA) investment to $1.35 million (from $500,000)
  • Federal authority to designate TEAs.
  • Priority date retention for foreign investors.
  • Ability of dependents to file Form I-829 separately from the principal investor.

 

OMB has 90 days to review changes until then the current EB-5 rules apply.

 

EB-5 Regional center program has been further extended until Sep 30, 2019.

 

In Spring 2018,  DHS considering making regulatory changes to the EB-5 Immigrant Investor Regional Center Program. DHS issued an Advance Notice of Proposed Rulemaking (ANPRM) to seek comment from all interested stakeholders on several topics, including:

 

  • The process for initially designating entities as regional centers,
  • Potential requirement for regional centers to utilize an exemplar filing process,
  • Continued participation requirements for maintaining regional center designation, and
  • The process for terminating regional center designation.

 

Read more here

Prabhu Balakrishnan
Prabhu Balakrishnan
Founder of Citizenship by Investment News. Chief Editor with over 15 years experience in PR and News publishing. He Loves writing about citizenship, residency and wealth migration. CIP Journal is a Leading publication founded in 2017 bringing latest news from CBI/RBI market.

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