There were a number of serious changed made in the EB-5 Immigrant Investor Program in 2022 because of the enactment of the EB-5 Reform and Integrity Act (RIA).
The EB-5 immigrant investor program was created in 1990, it provides a path to permanent residence (a “green card”). Investors can apply for EB-5 by investing through Regional Centers designated by USCIS.
Enacted on March 15, 2022, the RIA reauthorized the expired Regional Center program through September 2027 and made substantial changes to the EB-5 Program. One key change was to the investment amounts. The usual minimum investment is now US$1,050,000. An investment in a qualified Targeted Employment Area, however, requires a minimum investment of US$800,000.
Prior to the RIA, adjustment of status applications for EB-5 investors could not be concurrently filed with the EB-5 petition. Average processing time is up to five years, EB-5 investors had a long wait before continuing to the next step of the permanent residence process. The RIA permits EB-5 investors to file adjustment of status applications concurrently with the EB-5 petition if an immigrant visa is available in the EB-5 quota. This enables EB-5 investors to remain lawfully present in the United States while pursuing permanent residence.
The RIA requires much greater transparency for the EB-5 process. Under the RIA, EB-5 promoters must register with USCIS before beginning promotional activities.
The EB-5 petition must provide written disclosure of all fees, ongoing interest, and compensation paid to agents, finders, or broker dealers. Although submitting a copy of the written agreement is not a requirement for the EB-5 petition, the written agreement must be made available for review if requested by USCIS.
The EB-5 immigrant investor program was created in 1990, it provides a path to permanent residence (a “green card”). Investors can apply for EB-5 by investing through Regional Centers designated by USCIS.
Enacted on March 15, 2022, the RIA reauthorized the expired Regional Center program through September 2027 and made substantial changes to the EB-5 Program. One key change was to the investment amounts. The usual minimum investment is now US$1,050,000. An investment in a qualified Targeted Employment Area, however, requires a minimum investment of US$800,000.
Prior to the RIA, adjustment of status applications for EB-5 investors could not be concurrently filed with the EB-5 petition. Average processing time is up to five years, EB-5 investors had a long wait before continuing to the next step of the permanent residence process. The RIA permits EB-5 investors to file adjustment of status applications concurrently with the EB-5 petition if an immigrant visa is available in the EB-5 quota. This enables EB-5 investors to remain lawfully present in the United States while pursuing permanent residence.
The RIA requires much greater transparency for the EB-5 process. Under the RIA, EB-5 promoters must register with USCIS before beginning promotional activities.
The EB-5 petition must provide written disclosure of all fees, ongoing interest, and compensation paid to agents, finders, or broker dealers. Although submitting a copy of the written agreement is not a requirement for the EB-5 petition, the written agreement must be made available for review if requested by USCIS.
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