USCIS Issues Policy Alert on EB-5 Modernization Final Rule

USCIS is revising its policy guidance in the USCIS Policy Manual to align with the EB-5 Immigrant Investor Program Modernization Final Rule, effective November 21, 2019.  Any petition filed on or after November 21, 2019 will be subject to the new rules.

Under the EB-5 program, applicants may seek an immigrant visa if they make a necessary investment in a new commercial enterprise in the U.S. and create a certain number of jobs.  The changes that USCIS is implementing include increasing the required minimum investment amounts from $1 million to $1.8 million (or from $500,000 to $900,000 for a “targeted employment area” (TEA); revising the standards for certain targeted employment area (TEA) designations; and granting DHS sole authority to designate high-unemployment TEAs. 

Congress initially developed the EB-5 program to attract foreign investment and create U.S. jobs.  However, these changes will make it more difficult for investors to qualify.