Changes to the EB-5 Immigrant Investor Classification Program have been proposed by the U.S. Department of Homeland Security. Approval of the Final Rules from the U.S. government agencies responsible for same is expected shortly.
The changes include a material increase in investment amounts to $1.35/$1.8 million and a grant of exclusive authority to USCIS to designate Targeted Employment Areas (TEAs) which will restrict investing to specified areas.
There will likely be a grace period (perhaps 30-days or 60-days) prior to the new EB-5 rule going into effect. Once the Final Rules are published, we anticipate some 2,000 to 4,000 investments during the grace period.
If you would like a copy of the proposed legislation or have any questions regarding the changes in the visa requirements or submitting an application, please contact Miriam O. Hyman, Andrew L. Odell or Rodrigo Sadi.